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Le Gallais has sold its residential property management and estate agency arm to Maillard & Co in a deal which will see two of the island's oldest property businesses come under one roof.
Le Gallais hopes that the sale will allow it to concentrate on other areas of business – such as developing and managing properties in Jersey and the UK, and its self-storage facilities.
Tim Le Gallais of Le Gallais said: “This has not been an easy decision, Le Gallais has been synonymous with property management and estate agency in Jersey for over one hundred years, but it makes absolute sense at this point in our history, and we are delighted that the legacy we have created will be in the very experienced and capable hands of Maillard.
“The new owners will invest renewed energy and resources into the business, with excellent prospects for our loyal team, who are moving to the combined business.
“I am confident that the administration of our managed property portfolio will be in very safe hands, and the agency will continue to flourish.”
Chris Marsh of Maillard & Co added: “This is a very positive move for both companies, and we are looking forward to welcoming the team from Le Gallais into our business.
“Le Gallais and Maillard are aligned in many ways; we hold the same values and focus on customer service, so we expect the transition for staff and clients to be seamless.”
The deal takes effect from 1 July and there are no job losses.
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