Agencies & People
News covering the businesses, activities, people and personalities in estate agency and letting agency and wider residential property industry.
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Cluttons saved from closure by Rcapital
Rcapital, the UK based private investor, has entered into a partnership with Cluttons LLP to support its corporate restructuring and future growth. Cluttons is a long established (1765) highly regarded international firm of chartered surveyors and property consultants headquartered in London. It has a strong presence through the UK with multi-service international offices in UAE (Dubai, Abu Dhabi and Sharjah), Oman, Bahrain, Egypt and Saudi Arabia, in addition to a number of international residential license partners. It has around 450 employees and 32 partners. Rcapital’s announcement said that “Rcapital will support Cluttons as it adapts to the changing international real estate market. This corporate restructuring will allow Cluttons to continue to operate as normal in delivering excellent client service, and build a strong and flourishing business for the future. It will secure jobs, preserve the company’s historic brand name, and protect the interests of its employees going forward.” Steven Morgan, Senior Partner at Cluttons, said, “Having decided we required a new investment partner to help us grow the business, we were delighted to be introduced to Rcapital who have a deep sector understanding. Rcapital have not only provided financial support, but demonstrated that they have the expertise and skills to enable us…
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John D Wood grows as Faron Sutaria goes
Countrywide has completed its merger of two subsidiary brands, expanding John D Wood & Co. by a third, while closing the Faron Sutaria brand which was established 40 years ago.
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Lomond Capital’s £37.5m pot to buy estate agencies
Lomond Capital’s latest purchase is the acquisition of a majority stake in the South Coast estate agency and lettings group, Brand Vaughan. Lomond Capital recently announced the completion of a highly successful fund raising process which has provided £37.5 million of capital to fund expansion on the South Coast of England and London. In preparation for this next phase of expansion, Lomond has appointed a new Group Managing Director, Bruce Evans. Previously the Managing Director of Countrywide’s operations in London and South of England, Evans rounds up the group’s extensive knowledge of the property industry across the UK. His previous experience will prove hugely valuable in its expansion into the South while he will play a vital role in Lomond’s growth in existing markets. Its latest purchase is the purchase of a majority stake in the South Coast estate agency and lettings group, Brand Vaughan, which will continue to operate under the current name is the first of a number of acquisitions in this expansion across the region. It manages more than 1,250 properties and sells more than £175 million worth of property per annum throughout Brighton and the surrounding area. Lomond has been interested in expanding the group into the South…
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Hunters acquires Besley Hill
Hunters has acquired Besley Hill, one of the longest established and leading estate agency networks in the South West region of Bristol and Gloucestershire.
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Fine & Country New Forest opens in Lymington
Fine & Country has opened a new office in Lymington in the New Forest.
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RICS: Men paid £11k more than women
Salaries for UK property professionals remained robust in 2017, according to the latest survey by RICS & Macdonald & Company, but the gender pay gap has increased. Male property professionals earn, on average, £11,113 more than their female colleagues (£54,931 versus £43,818). The gap is evident across most age groups and greatest for those aged 46-55, where the difference in average salary is 25.7 per cent. Of those who received a pay rise in 2017 in the industry the average increase was 7.7 per cent (7.1 per cent in 2016) – far above UK wage inflation at 2.7 per cent. Taking the sample as a whole, the industry experienced an increase of +7.2 per cent (2016: 6.5 per cent) with 32 per cent also believing that their pay and benefits will be positively affected by market conditions over the next 12 months. Men aged 46-55 are paid 25.7% more than women of the same age. The average salary in 2017 is £52,362; a 4.5 per cent decrease compared to 2016, which may be explained by changes in the demographics of the survey this time around. Respondents with 10 years experience or fewer rose by 9 per cent (from 31 per cent to 40…
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Jackson-Stops & Staff expands to offer holiday lets
Jackson-Stops & Staff’s Sherborne branch has moved into holiday lettings...
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Belvoir’s first acquisition of 2017
Steve Slawson of Belvoir Hereford has successfully completed the acquisition of the principal assets of Williams Estate Agents (Hereford) Ltd.
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Where did that whisky A Go-Go?
When his tenant’s rent went unpaid, a Scottish landlord accepted nearly £40,000 worth of stolen whisky as payment.
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Countrywide’s hybrid rollout
While there’s enormous ‘noise’ around ‘online-only’ and hybrid agents such as Hatched and Purplebricks, Countrywide has been quietly rolling out its online activity across swathes of the UK.
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