Oxford-based Wallers Estate Agents has entered creditors’ voluntary liquidation (CVL), with more than half its debt via a Government-backed Bounce Back loan from NatWest.

Companies House records show liquidators were appointed on August 29, with a statement of affairs submitted on September 8 showing debts of £59,826.

The agency, which was set up by Rowan Waller (main image, centre) in 2014 and originally called Isis Estate Agents, had been predominantly based in Rose Hill, Oxford, but with a second branch in Swindon.

Antidote

His former firm pitched itself as “the antidote to what people always see as your typical estate agency” and was heavily involved with the local sports community and at one point sponsored Oxford City FC.

According to This is Oxfordshire, the largest creditor is NatWest, which is owed £31,567 for a Bounce Back loan. Other creditors include £1,000 for a business card, £59.94 to HMRC for PAYE and £7,202 to CF&L, a leasing specialist in Southend, Essex.

Waller began a role as a sales director at another Oxford estate agency in October 2023, suggesting his firm may have ceased trading around that time.

But the formal liquidation process commenced last month and, according to the The Property Ombudsman, Wallers’ registration ended in August last year.

Challenging times

Waller later left his job at the local estate agency and now describes himself as “a writer, best-selling author, poet and speaker,” and runs a content business for the property industry.

His estate agency’s closure comes amid a challenging period for the sector, with property data firm TwentyCi claiming 2,893 estate agent sales branches and 1,906 lettings branches closed in 2023. And accountancy firm Forvis Mazars have reported that estate agency insolvencies jumped 32% between 2022-23 and 2023-24.

The Neg contacted Wallers Estate Agents for comment, but its hpone line no longer operational.

Pic courtesy of Yell.com