Hawthorn Capital, a private investment firm, has acquired Xenia Property Group, a letting agency, as part of its expansion in the UK property services sector. The acquisition includes a business managing over 4,000 units, encompassing block management, residential lettings, and student accommodation.
The deal, completed for an undisclosed sum, sees Hawthorn take on Xenia's operations, which are headquartered in Sale, Greater Manchester, with additional offices in Bradford and Sunderland. Xenia Property Group employs 65 people across its Xenia Estates, Xenia Students, and Xenia Lettings brands.
Following the acquisition, Hawthorn intends to leverage Xenia as a foundation for further consolidation within the UK property services market. The firm, founded in 2022 by Will Bainbridge, is actively evaluating additional deals, particularly targeting businesses in block management, property management, and related real estate services.
Will Bainbridge noted the UK property services market's fragmented nature and the increasing demand for scale and professionalisation due to rising regulation, customer expectations, and technology requirements. Xenia's existing leadership team, including Farrah McWilliam and Michael Willans, will remain in place to oversee day-to-day operations, while Bainbridge and Chanil Patel have joined Xenia's board.