LonRes, a subscription based business-to-business trading platform, is celebrating its twentieth anniversary, laying claim to being one of the original PropTech companies.
The brainchild of William Carrington and Anthony Payne, LonRes aimed to use technology to replicate the day-to-day working practices of property professionals operating across prime London. In so doing they made the residential sales and lettings processes faster, slicker and more efficien.
20 years on, LonRes comprises a network of 6,000 residential property professionals working across prime London and the country, listing 12,000 properties for sale (worth a collective £27 billion) and 10,000 homes that are available to rent.
LonRes was designed to meet agent’s needs and this remains the case 20 years on.
Its real-time database is widely regarded as a definitive source on prime residential London and its sales archive which goes back to 1979, pre-dates Land Registry by 16 years. The LonRes lettings database goes back to 2004.
As William Carrington, Chairman of LonRes said, “From the very start, LonRes was designed to meet agent’s needs and this remains the case 20 years on. LonRes has never stood still and continues to evolve.”
Anthony Payne, Managing Director said, “It’s a great testament to the company that 20 years on, we can count original subscribers among our clients today. The fact that William and I had both worked as agents in prime central London meant that we understood what was needed. This in no small part lies behind the success of the business. That and the fact that we’ve always been quick to adapt and have stubbornly refused to cut corners.”