Connells Survey & Valuation has been awarded an exclusive long-term contract to deliver valuation panel management services to Principality Building Society.
The outsourced contract will also include the Principality’s Chartered Surveyors and associated staff joining Connells Survey & Valuation. These new staff will augment Connells Survey & Valuation’s existing 400-strong workforce.
Ross Bowen (pictured), managing director for Connells Survey & Valuation, said: “I am delighted Connells Survey & Valuation has been appointed to deliver the Principality Building Society’s entire valuation panel management services.
“The addition of Principality’s surveying team into Connells Survey & Valuation also marks the latest step in our annual £6 million expansion plan announced at the end of 2013.
“The incoming Principality team is a great boost to our established servicing capability and commitment to Wales, and ties in perfectly with our ongoing expansion plans.”
The deal also involves the Connells Group acquiring Peter Alan, an estate agency business with 26 branches across Wales, from Principality Building Society for £16.4m.
Graeme Yorston, CEO of Principality Building Society, said: “After undertaking a strategic review in which we determined that Peter Alan and our surveyors business would be better supported within a group of similar businesses to ensure their potential is optimised, we are now delighted that Connells Group has acquired Peter Alan and to have appointed Connells Survey & Valuation to deliver the Principality’s valuation services.
“Connells are recognised market leaders who share our passion for putting customers first. Connells’ expertise means they are ideally placed to provide additional ongoing investment to support these business’ future success. We will watch with pride and interest as Peter Alan and the surveyors business continue to grow and prosper under their new ownership.”