CASE STUDY

Settio

A major multi-city lettings business sold to Dwelly, with Atomic Consultancy supporting Settio over several years to help maximise value before going to market.

Business Name:
Settio

Location:
London, Manchester and Birmingham

Years in Business:
Est 2017

Size of Business:
1,700 fully managed properties

Services Offered:
Mainly residential lettings and property management, with a small sales pipeline

Challenges & Goals of Selling the Estate Agency

Founded in 2017, Settio developed into a substantial property business with operations across London, Manchester and Birmingham. With around 1,700 fully managed properties and a predominantly lettings-focused model, the business represented a significant opportunity in the agency acquisition market.

The owners first engaged with Atomic Consultancy in 2023, when an initial market valuation was discussed. Rather than rushing straight to market, Settio continued working with Atomic over a longer period to prepare the business properly, improve its position and ensure that when the time came to sell, it would be presented in the strongest possible way.

The goal was not simply to find a buyer. It was to find the right buyer, generate strong market interest and achieve a result that properly reflected the scale, quality and future potential of the business.

Confidentiality, timing and positioning were all critical. Settio needed a process that protected the business while allowing serious buyers to understand the strength of the opportunity.

Atomic Consultancy’s Approach

Atomic Consultancy worked with Settio over a sustained period before the business went to market.

This long-term advisory approach allowed Atomic to understand the business in detail, identify where value could be strengthened and support the owners in preparing for a future exit.

When the time came to launch the opportunity, Atomic positioned Settio carefully and introduced the business to a targeted group of relevant buyers. The process generated strong interest, demonstrating clear buyer appetite for a well-prepared, multi-location lettings business with substantial recurring income.

Dwelly was ultimately identified as the right buyer for the business. Atomic managed the process throughout, supporting discussions, negotiations and communication between the parties to help keep the deal moving forward.

The final sale outcome represented a significant sales improvement of 50% higher than the original market value discussed in 2023, showing the impact that preparation, timing and expert guidance can have on an agency sale.

Key Takeaways

Multi-city property business operating across London, Manchester and Birmingham
1,700 fully managed properties
Mainly lettings-focused, with a small sales pipeline
Settio first engaged with Atomic Consultancy in 2023
Atomic supported long-term preparation before the business went to market
Sold to Dwelly following strong buyer interest
Final sale result significantly exceeded early valuation expectations

Feedback

Chris and I consulted with the team at Atomic on a few occasions in the past, to ensure we always had an understanding of the buyers in our market and how we might position our brand for exit when the time came. Lucy understood Settio’s USPs and our vision for the business which resulted in the right introduction at the right time. Atomic understood Settio, the numbers behind the brand, and presented us with the right opportunity from the right people. Selling a business isn’t something we’d done before, so the guiding hand of their team was invaluable, ensuring we secured the deal we deserved and navigated a complex due diligence and legal process on schedule. Thank you to Lucy, and the Atomic team.

— Samuel Fitz-Hugh, Co-Founder, Settio

Final Thoughts From Atomic

Settio is a strong example of why preparation matters when selling an agency business. By working with the owners well before launch, we were able to help position the business properly, generate strong buyer interest and support a sale that achieved a far stronger result than the original valuation discussions suggested.

This was not just about taking a business to market. It was about understanding the opportunity, preparing it properly and connecting Settio with the right buyer at the right time.

— Lucy Noonan, Owner & Founder – Atomic Consultancy