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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Connells Group acquires Gascoigne Halman
Connells Group has agreed a deal to buy Gascoigne Halman, taking its high street network to nearly 540 branches across the UK. Connells’ decision to purchase Gascoigne Halman, which has 18 branches operating across south Manchester, north east Cheshire and the High Peak, will extend its geographical reach and fits in with the firm’s expansion strategy, and follows on from the acquisition earlier this year of Peter Alan, Adrian Cole & Partners, Cartwrights, Harrisons, Platinum lettings, Selective Lets, among a host of other purchases. Gascoigne Halman will continue to trade under its existing brand with Founder and Managing Director John Halman remaining at its helm. David Plumtree (left), Connells Group Estate Agency Chief Executive, commented, “We are delighted to welcome such a strong and high quality business as Gascoigne Halman to the Connells Group. This acquisition is a good strategic fit for our expansion plans and perfectly complements our branch network. It brings depth and further quality to our existing portfolio and gives us a presence in this region for the first time.” “There are strong synergies between the Connells Group and Gascoigne Halman and we are looking forward to working with John and his team,” he added. Partnering with…
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eMoov’s crowdfunding campaign raises £2.6m
eMoov has raised just over £2.6 million, more than two and half times its target, after attracting 795 individual investors through crowdfunding on Crowdcube. Among the major investors were two venture capital groups, Episode 1 Ventures and Maxfield Capital Partners, which both increased their investment in the online estate agency, while Swiss VC firm Startive Ventures also joined in the funding round. Alexander Lazarev, Partner at Maxfield Capital Partners, said, “eMoov’s crowdfunding success is a clear indication of a long awaited transformation of an old-fashioned industry. eMoov disrupts estate agency by providing significant savings and high quality customer services. “I am glad that crowdfunding investors have recognized this unique opportunity and contributed their capital to eMoov.” Episode 1 and Maxfield Capital have contributed £500,000 and £300,000 respectively, with Startive investing £250,000. In addition, London-based accelerator Seedcamp has also reinvested with £50,000. “We have made unbelievable progress over the last 24 months and this smart money demonstrates the confidence that the professionals have in our business,” said Russell Quirk, CEO and Founder of eMoov. Episode 1’s Managing Partner, Simon Murdoch, was an early stage investor in Zoopla, Betfair, Shutl and LOVEFiLM, and now he believes that the estate agency industry is…
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Knight Frank posts record annual profits
Knight Frank has posted record annual profits, thanks in part to a number of high profile deals and a surge in investor activity. The high end property consultancy, which is owned by its partners, has announced that profit before tax rose by 19 per cent to £162 million in the year to 31st March, while turnover increased by 13 per cent to £443.1 million. The growth in profits was fuelled mainly by a recovery in the commercial sector; the company’s 10 commercial offices across the UK have had “their best year ever”, according to Alistair Elliott (left), Knight Frank’s Group Chairman and Senior Partner. He commented, “In the UK, commercial real estate activity has increased and there is now significant life in the sector. “The regions have spent several years in the doldrums, but we are seeing the commercial lettings market increase, but it must be said this is against a backdrop that has been terrible.” But while the commercial property market was on the up, Knight Frank said that the residential sector delivered a somewhat mixed performance – owed in part to higher stamp duty rates imposed by the Chancellor George Osborne on homes in the upper sector of…
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Belvoir acquires Goodchilds
Belvoir has completed the acquisition of West Midlands based Goodchilds Estate Agents and Lettings Ltd, taking the number of offices in its network to 211. Founded by David Warke in 2004, Goodchilds, which has 16 property sales and lettings branches located across the West Midlands, will now become part of Belvoir-owned Newton Fallowell group, under the leadership of Chief Executive, Mark Newton. Mark Newton said, “I am really looking forward to Goodchilds coming on board, and welcoming a further 16 offices to the Newton Fallowell network, which will bring the total to 46. “The balance of lettings and property sales within the Goodchilds network is currently 70 per cent lettings and 30 per cent estate agency. Newton Fallowell’s strength and expertise in estate agency will help to enhance the sales side of the business and the added support of Belvoir as a parent company will greatly benefit all aspects of business growth.” Aside from significantly increase the volume of offices in Belvoir’s network, the acquisition of Goodchilds has also boosted the number of properties managed by the firm to 35,000. “The acquisition represents a clear strategic fit with our acquisition strategy of building a network based on multi-brand franchises, which…
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Cheap PR stunt backfires on online agents
A PR stunt in the form of a slow drive funeral procession through the streets of London, supposedly marking the death of the high street estate agency sector, backfired on the online agency who staged it, confirming that their unprofessional and cheap marketing methods bring their own business nothing but damage. Founder and CEO of eMoov.co.uk, Russell Quirk, branded the stunt “dead wrong” and while he believes that the property industry “needs a kick”, he insisted that online agents should aim to “improve” the home buying and selling experience, and “not to ‘kill’ estate agents”. Russell (left) said “They clearly have their own view on marketing strategy and this particular style may work for them. But the business of selling someone’s family home with care and at the best price is a very serious business.” Adam Male, Founder of Urban.co.uk, felt that the PR stunt was “effective” but insisted that “it’s in no way the end of the high street.” He commented, “I believe both online and traditional agency has a place in the industry. Much like John Lewis and Thomson Holidays have proven over the last five years, it’s achievable to have a successful high street operation, complemented by…
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Romans and Leaders continue expansion with fresh acquisitions
Leaders has added to its network of 100-plus branches with the acquisition of Aidan J Reed in Loughborough and Quorn, Leicestershire, while Romans has followed the purchase of Campsie’s residential and commercial sales and lettings branches earlier this month, by acquiring Gregory & Company in Windsor. Leaders’ latest deal follows on from the trio of acquisitions at the end of August and early September, including Simply Lets in Worcester and Bromsgrove, Andrews Snape & Co in Bournemouth and Cullen Homes in Manchester. Matthew Light (left), Leaders’ acquisitions director, said, “We are delighted to welcome the staff and customers of Aidan J Reed to Leaders and look forward to working with them as we launch the Leaders name in Leicestershire. “This an ideal business for us because, like Leaders, Aidan J Reed’s focus has always been on providing a quality service and employing highly professional staff with excellent knowledge and standards of practise. In terms of location, this acquisition provides additional coverage within our existing Midlands region, complementing our six Derby branches and our Nottingham and Mansfield locations.” Aidan J Reed was owned and operated by Aidan Reed and James Etty who will now focus purely on their student lettings business.…
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Romans acquires Campsie
Romans Group completed yet another acquisition last week after it finalised a deal to merge with Campsie’s sales and letting branches. Established for over 40 years, Campsie, which covers Windsor, Staines-upon-Thames and West Drayton, will be fully-incorporated into the Romans network from Monday 5thOctober, with each of the firm’s three branches set to be upgraded to the familiar and customer focused offices seen across the Romans Group. Romans’ decision to buy Campsie fits in with the firm’s expansion strategy, and follows on from the acquisition earlier this year of Meldrum Salter Edgley in Guildford, James Griffin in Bracknell, SherriffMountford in Burnham and Atlantis in Reading. Expanding its portfolio of estate and letting agencies has been high on the agenda for the Romans Group with a number of acquisitions already under its belt since 2013. Members of staff at Campsie, part of the Orchard & Shipman Group, will be offered professional and expert advice on sales, lettings, and surveying. Shane Spiers, Chief Executive of Orchard & Shipman Group, commented, “Campsie has been established for over 40 years, so when the time came to sell it was vital we found an agency with the same core values and high standards our customers…
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Leaders continues to grow
Leaders, one of the UK’s largest estate and letting agents, has further increased its regional footprint by completing the acquisition of Simply Lets Ltd in Worcester and Bromsgrove last week – keeping the firm’s expansion plans on course. Leaders acquired Simply Lets after its previous owner Jon Sugden decided to sell his business and exit the letting industry altogether in order to pursue other interests. Sugden (left) said, “After deciding to sell the company, it was important to me to leave my landlords, tenants and staff in the safest possible hands. That’s why I chose to sell Simply Lets to Leaders, which has the expertise, experience and resources required to deliver a great service.” This fresh acquisition by Leaders follows on from the purchase of Andrews Snape & Co in Bournemouth and Cullen Homes in Manchester last month. Matthew Light (right), Acquisitions Director at Leaders, said, “We are delighted to welcome all our new customers and employees who have transferred from Simply Lets, Andrews Snape & Co and Cullen Homes. “These acquisitions have added new branches in key locations in which we previously had no presence, as well allowing us to grow our portfolio in some of our existing markets…
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Oktoberfest is coming!
Where can you find 30,000 people drinking over 200,000 pints of lager and eating 50,000 bratwurst sausages? At the Tobacco Dock of course, during the highly anticipated Oktoberfest London. 2015 will mark the first of many successful makings of this event, bringing Munich’s world famous German beer festival to Wapping, East London. With Munich breweries Paulaner & Hacker-Pschorr sponsoring the festivities, Bavarian authenticity will be in no short supply. The Bavarian breweries are two of the supplier to the original Oktoberfest and are shipping over 1000 barrels of traditional beer for the London happening. Those lucky enough to get hold of tickets will find themselves in the land of the merry; German beer halls ringing with the sounds of the world’s best Bavarian oompah bands playing everything from Ein Prosit and Fliegerlied to Queen and Oasis. As if that weren’t enough to look forward to, food will be laid on from German restaurant chain Hermann Ze German, offering wurst with sauerkraut, schnitzel and Germany’s favourite potato salad. Months of careful planning have gone into assuring that Oktoberfest London is nothing less than spectacular. Don’t miss your chance to be a part of the hottest event of the year. Running only…
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Foxtons set to significant increase London presence
The multi-award-winning estate agency has announced that it wants to open as many as 42 new branches across London and the South East by 2020, as part of its strategy to increase its market share within the M25 area. Foxtons, which currently has 58 branches across the South East of England, says that it will be increasing their coverage within the M25 to 100 offices. Openings so far this year have included; Barnes, Walthamstow, West Hampstead, Ruislip and Bromley, while last week the company opened two more branches in Surbiton and Croydon. To mark the launches, Foxtons has been offering its familiar 0% commission offer for a limited time period, in a bid to boost local market share. Andrew Weir, Managing Director at Foxtons, said, “Our expansion strategy currently focuses on the outer London areas which are continuing to show considerable growth, and we look forward to bringing our 34 years of knowledge and expertise in the property market to these local communities.” News that Foxtons will be increasing its presence will undoubtedly be met with fear and anger from rival agents in some of those areas it targets. Earlier this year, estate agents in West Hampstead, North West London,…
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