Two Wales-based entrepreneurs have sold their latest business.

The boutique Cardiff estate agency 'House,' including a holiday home management and accompanying software system, have been acquired by an undisclosed nationwide brand.

This private sale is the third venture entrepreneurs Chris J Birch and Jak Björnström have initiated and sold.

The pair previously created and sold a facilities management company and an accountancy practice, both south Wales-based and operating nationally.

Mr Birch said: "We're delighted that our boutique agency can continue, grow and flourish with an injection of new talent and vigour".

Mr Birch is a business lecturer and consultant, and Mr Björnström is an interior designer.

They have gained notoriety for their entrepreneurial success, winning the coveted Entrepreneur of the Year Award at the 2020 Cardiff Business Awards.

Mr Birch was also recently recognised in the prominent European Awards, featuring on the '40 Under 40' list by Business Elite.

Speaking on future plans, Mr Birch said: “We’ve got no instant plans to grow something new ourselves if I’m honest.

"We have our hands in a few other projects as silent partners and we’re quite happy with that for now.

“It’s a tough game to start something from scratch and we’ve done it a few times now. I’d likely look to help another Organisation instead of starting something else, but the door is never closed.”

The duo's agency is part of a broader trend of acquisitions within the estate agency sector, including the purchase of several smaller agencies by the Cardiff-based property management firm Seraph and the 2019 acquisition of Cardiff's Moginie James by the Leaders Roman Group.

Reports show property sales were 16 per cent lower in August last year compared to the same period in 2022, which some believe is causing many smaller and medium agencies to seek acquisition by larger firms.

The Welsh rental sector is facing increasing regulation, and forthcoming legislation will regulate holiday homes, including Airbnb properties, amidst a contraction in the property market.

The acquisition of the agency was managed by accountants 'NS.'

The new owners anticipate a 'brand refresh' for the agency, implementing several new features, including new high street offices in the coming months.