Propertypal, Northern Ireland’s largest property portal, has been snapped up for an undisclosed sum by online classified giant Distilled, which owns Daft.ie, the Republic of Ireland’s largest property portal.

The deal makes Distilled the ‘Rightmove’ of both countries, although it also has interest in online used car sales.

PropertyPal was founded in 2007 and is the number one property portal in Northern Ireland and operates through two distinct brands –www.propertypal.com and www.propertynews.com.

It lists over 50,000 properties for sale and to rent each year from estate agents and property developers across Northern Ireland.

Daft.ie was launched in 1997 by brothers Eamonn and Brian Fallon and has grown into the republic’s largest property portal listing some 70,000 homes for sale.

Propertypal’s CEO Jordan Buchanan (main image) is to stay with the business but report to a new NI board to be chaired by Cecil Hetherington.

Financial terms

Although the financial terms of this transaction have not been disclosed, Propertypal’s latest accounts reveal it has 21 employees and made a profit of £157,000.

Hetherington says: “We are delighted to partner with Distilled as we embark on the next stage of our growth journey.

“Distilled have a deep understanding of online marketplaces and we share with them a passion for delivering the best possible experience to property and motoring buyers in our respective markets, as well as providing a rich suite of services to property professionals and motor dealers.”

Eamonn Fallon, Founder and CEO of Distilled, says: “We have long admired the Used Cars NI and PropertyPal businesses and are excited to partner with them in their next phase of growth.

“I’m really impressed with the people in Used Cars NI and PropertyPal, and the quality of the products and solutions they have built for their customers.”

Agents may not like the merger, though – when Propertypal bought rival Propertynews during August last year, many worried the merger would lead to higher listings prices.