The deal to acquire the sales arm of Quintessentially Group, as reported by The Neg last year, has apparently completed, under the aegis of Logan & Warwick Investments Limited, a company owned by Quintessentially Estate’s CEO, Penny Mosgrove.
The Group was actively seeking further investment from its backers after suffering setbacks associated with the pandemic.
As it stands, The Times reports that auditors for the loss-making Quintessentially Group, BDO, noted a “material uncertainty” that the group could continue as a going concern in recently filed accounts.
This is a natural progression for our business which will allow Quintessentially Estates to focus on delivering a first class experience for our clients.”
The luxury concierge company was co-founded by Ben Elliot, former Conservative Party Co-chairman and nephew of Camilla, the Queen Consort.
According to BusinessLive, Penny Mosgrove, is an award-winning businesswoman, originally from Newcastle, and has been listed in the Top 50 Property Agents List by Spear’s Wealth Management.
Despite questions over the viability of Quintessentially Group’s future, Mosgrove continues to align the estate agency business with it, saying, “This is a natural progression for our business which will allow Quintessentially Estates to focus on delivering a first class experience for our clients from all of our offices around the world, whilst continuing to be part of the Quintessentially family.”