A GLOBAL economic crash wasn't the best time to start in business, especially in the property sector, but Preston Baker lived to tell the tale and is looking to grow its increasing list of award wins.

Preston Baker has just won the Best Small Northern Lettings Agency 2014 award last month, and was last year recognised by the Sunday Times as the Best Small Northern Agency and the overall winner in the UK for the award for Best UK Small Estate Agency. It is now hoping for more success at the Press Business Awards.

Founded by cousins Ian Preston and James Baker in Walmgate, York, with Mr Preston's father Trevor Preston also sitting on the board, the sales and lettings agency is hoping to be named Family Business of the Year and Small Business of the Year.

Formed in 2008 as a franchise, before becoming independent in 2011, Preston Baker now has a team of 77 staff with offices in York, Selby, Doncaster and three offices north of Leeds.

Mr Preston said: "The context of our growth has been through the toughest post war estate agency market and we have undertaken a strategy to diversify our revenues away from simply estate agency into financial services, lettings and property management.

"In the current financial year we should achieve an additional 50 per cent revenue growth and a higher profit margin also.

"We have diversified our revenue streams from being 93.5 per cent estate agency revenues in our first year to be 76.2 per cent by last financial year.

"This allows us to have a balanced business that has accelerated revenue growth overall as each of our outlets can offer the full range of services. These services include lettings, financial services, conveyancing and new homes."

Mr Preston and Mr Baker have a clear five year plan with the aim to grow the business to 13 locations across Yorkshire by 2020 with an increase of revenues targeted to more than £9 million per annum.

The duo already has locations identified and plans to undertake the growth through a combination of cold starts and acquisitions.