WELL-KNOWN North-East estate agency Rook Matthews Sayer, which has an office in Hexham, has been sold to one of the biggest agencies in the country.

Founded in 1990 by local men Clive Rook, Rod Matthews and Richard Sayer, Rook Matthews Sayer has 16 branches, employing more than 130 staff and sells more homes in Newcastle and Northumberland than any other estate agency.

It has been acquired by the Connells Group, which is one of the UK’s largest and most successful estate agency and property services groups, with over 560 branches around the country.

The company, which was founded in 1936, has been part of the Yorkshire-based Skipton Building Society since 1996.

Under the terms of the deal, which was agreed for an undisclosed sum, RMS will continue to provide its residential and commercial sales and lettings and property management services under the Rook Matthew Sayer brand.

The deal was negotiated by Newcastle-based financial advisers UNW and Clive Rook said: “UNW provided excellent advice and negotiating expertise when we decided it was the right time to sell our business.

“Connells is a large and growing business, and we are confident that the Rook Matthews Sayer name will continue to go from strength to strength as part of the group.”

UNW corporate finance senior manager Katy Lamb said: “Recently there has been a significant level of consolidation activity across the UK lettings and estate agency sector which we expect to continue.

“RMS is an excellent North-Eastern acquisition for the Connells Group and we are very pleased to have advised its shareholders on this successful transaction.”