AS the credit crunch bites, Worcestershire’s award-winning estate agency Premier Places is to stop selling properties to concentrate on its successful lettings division.

The closure of the sales side of the company that only last year won the Daily Mail best agency in Worcestershire award will come as a further blow to the local property market, following the demise of two other Worcester-based operations, Hunters and Williams, over the last six months.

Premier Places managing director Brandon Weston said he had made the difficult decision following a substantial downturn in sales over the summer.

“We have managed to cushion the blow by transferring some staff from the sales to the lettings side,” he added, “but unfortunately there will be four redundancies. Being at the sharp end of both the sales and lettings market in the area, it is clear that our energies should be transferred into strengthening our lettings business, where we are continuing to lead the market.

“Our primary consideration is the continuation of service to our clients whose homes are currently on the market with us, I am now in the position to confirm that the reputable estate agency Connells will be taking over our sales portfolio and I am confident that they will make the transition as smooth as possible. We have informed all our vendors of the situation.”

Premier Places lettings operation will continue to trade from the company’s offices in Foregate Street, Worcester, which, along with its sister office in Redditch, manages a portfolio of nearly 900 properties.

All landlords and tenants will be notified of this decision with the company’s assurance that it is business as usual in the lettings department.

“Having operated in the rental sector for the last 12 years, we will continue to be the leaders of this market due to the approachability, customer service and strength of the team,” Mr Weston claimed.

“I expect to see a continued upturn in the lettings sector both from purchasers deciding to rent instead of buying, and from sellers who decide to let their property instead of selling “.

Premier Places began selling properties four years ago after building its reputation in rentals.