Countrywide
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Latest property news
Countrywide builds-to-rent
Law firm Winckworth Sherwood has advised Vista, the UK residential property fund established via a joint venture in build-to-rent between Countrywide plc and Hermes Investment Management, on the forward purchase of the first phase of Manchester Waters from Rowlinson Constructions for £23 million.
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Agencies & People
Countrywide to launch online sales
Online fee set at £795 but sellers can upgrade to full service.
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Latest property news
Countrywide plc appoints new Managing Director for Hamptons International
Countrywide plc appoints new Managing Director for Hamptons International.
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Latest property news
Countrywide acquires Finders Keepers in Oxford
Countrywide has increased its regional footprint in Oxfordshire with the acquisition of leading lettings agency, Finders Keepers. The company, which was founded in 1972 by Mary Channer, who is the mother of the firm’s existing Managing Director, Dan Channer, offers a plethora of lettings services and currently managers more than 2,000 homes and boasts a 99.3 per cent occupancy rate. Channer said, “I started Finders Keepers at the age of 27, and now that the digits are almost reversed I feel it is time to retire. This is made easier by knowing that the great team will stay in place and I am confident that Countrywide will be great custodians of the Finders Keepers brand, culture and business.” The acquisition of Finders Keepers forms part of Countrywide’s strategy of expansion through acquisition and organic growth across the UK. Bruce Evans, Commercial Director at Countrywide, said, “The business will be fully integrated within the overall Countrywide retail division giving landlord clients access to our exclusive range of products and services, and the benefit of our strong and secure infrastructure to support both landlords and tenants.” Meanwhile, Countrywide has also made a significant investment in ‘The Buy to Let Business’ to help…
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Agencies & People
Countrywide appoints new Chairman
Countrywide, has appointed Peter Long, the former Chief Executive of travel agent giant TUI, as its Non-Executive Chairman. Mr Long (left), who is also Chairman of Royal Mail, will start his new role following Countrywide’s annual general meeting in April, replacing the retiring Grenville Turner. He will work alongside Alison Platt, Chief Executive at Countrywide. He commented, “I am delighted to be joining the Countrywide plc board as Chairman and am looking forward to working with Alison and her team. The group has a clear focus on its customers as it executes its strategy and generates long-term sustainable shareholder value.” Alison Platt, said, “On behalf of the Board, I would like to thank Grenville (right) for his dedication and significant commitment to the development of Countrywide during his tenure. As Chairman and previously as CEO, Grenville has been unwavering in his stewardship of Countrywide. Personally, he has been unstinting in his support and guidance for me and his counsel has been invaluable. “I am pleased that Peter has accepted the role of Chairman and would like to welcome him to Countrywide. I and the entire Board look forward to working with him as Countrywide pursue its strategic objectives.” Related news…
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Products & Services
Zoopla, Countrywide and Connells partner with Proptech firms
Zoopla, Countrywide, Connells, Fixflo, Property Detective, Trussle and Landbay are to work together in a series of investments and collaborations to bring further services to consumers. FixFlo, the UK’s leading online repair reporting platform, will provide ZPG agent members with tools to help them manage tenant maintenance issues more effectively; PropertyDetective is a supplier of property and neighbourhood research reports and they will provide more in depth property data to Zoopla users and agents; MD and founder of PropertyDetective, Barry Bridges said, “Our reports are now recognised by the industry and consumers alike as the best residential property reports you can get your hands on, full of useful information about the local area, giving an unbiased and genuinely useful picture of the facts that anyone moving home should be making themselves familiar with BEFORE moving home. Today, we start bringing those reports and our insight to a national audience of millions.” Landbay is a leading peer-to-peer lender for property, which will allow ZPG users to invest in the UK residential property market from as little as £100; Trussle, the UK’s first online mortgage adviser, will help ZPG users find the best value mortgages for their needs. Alex Chesterman (right), Founder…
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Agencies & People
Countrywide upgrades profit forecast
Countrywide has increased its profit forecast on the back of the improving state of the residential property market. Shares in Britain’s biggest estate agency- seen as an indicator of the health of the residential property sector – rose by as much as 5.6 per cent at one point last week after it announced that it now expects pre-tax profit and other charges to reveal a “modest improvement” on its previous expectations. In November, the company warned investors that it would not hit its full-year profit forecasts for 2015, after an expected post-election boost in the housing market failed to materialise. But despite the upturn in profit forecast, Countrywide said that the future state of the housing market remained uncertain, particularly due to the hike in stamp duty on second homes, which is set to be introduced in April, not to mention Government plans to introduce less favourable tax relief for landlords – to be phased in over a four-year period from April 2017. The company said: “It is too early to predict what the trend in residential transactions will show in 2016, although approved mortgage volumes including owner occupier in recent months have been ahead of the previous year, which…
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Movers & Shakers
Countrywide management appointments
Countrywide has made a series of Managing Director and Director appointments to its UK retail team and London business unit as part of its ‘Building our Future’ strategy. Countrywide says that ‘Building our Future’ involves “a restructuring of the business, driving greater emphasis on customer focus and organic growth by leveraging our combined sales and lettings offering through one cohesive Retail team. Our restructure is a key element of the plan to double the size of the Group over the coming five years.” To create a One Countrywide Retail team Sam Tyrer, Managing Director for Retail, has appointed three Divisional Managing Directors, bringing together the two businesses. Three further key appointments have been created, Retail Commercial Director, Retail Programme Director and Retail Performance Director, reporting to Sam. 12 Retail Directors have been appointed for the North, Midlands and South, reporting into the three Divisional Managing Directors. Michael Luck and Jonathan Simpson have been appointed as Divisional Managing Directors for the North and Midlands respectively. A Divisional Managing Director for the South will be announced in the near future. Completing the Retail team, Bruce Evans has been appointed Retail Commercial Director; Margaret Longden as Retail Programme Director and Pete Wallace as…
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Agencies & People
Countrywide acquires three more agents
Countrywide, the UK’s largest integrated property services group, has significantly increased its regional footprint in Merseyside and South Wales by acquiring three major new independent estate agents. The company has completed the acquisitions of Sutton Kersh and Clive Watkin estate agents in Liverpool, along with John Francis in South Wales. The three deals adds over 300 employees and 39 branch locations to Countrywide’s new retail business unit, which brings together the sales and lettings businesses to create a seamless customer-facing experience. Clive Watkin Partnership operates a network of 15 estate agency and letting branches across Liverpool and the Wirral, as well as a land and new homes operation, while Sutton Kersh, established in 1976, now has six multi-discipline branches across Liverpool, providing a wide range of services covering residential sales, lettings and property management, commercial property, auctions, mortgages, surveys, valuations, and energy performance assessments. John Francis operates a 21 branch network covering Swansea and South Wales, which serves all aspects of the property market, including services in residential sales and lettings, commercial sales, auctions, new homes and financial services. “We are delighted and excited to have joined the UK’s largest property services group. John Francis is a strong brand and…
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Housing Market
Lack of homes for sale hits profits
Countrywide, Foxtons, Savills, Martin & Co and Belvoir were among the main property firms to see their share prices fall last week amid housing market fears. The residential property market in parts of the country is taking time to recover especially in Prime Central London, where transaction levels remain at historically low levels owing to strong recent price growth and changes to stamp duty. Countrywide was one of the FTSE 250’s biggest fallers last week, with shares at one stage down 60.10p or 12.92 per cent to 404.90p, before later recovering to 412.79. Other listed estate agent firms also suffered, with Foxtons dropping 7p to 192.8p and Savills down 9.5p to 902.5p. Countrywide, which saw its annual operating profits drop 11 per cent in the nine months to September compared to the same period last year, has warned that its full-year profits are set to fall below its 2014 total of £121.1million, primarily due to a lack of homes coming up for sale after the anticipated post-election recovery in residential transactions failed to materialise. “Against the current backdrop of less than expected residential volumes, group EBITDA for the nine months to September 30 was 11 per cent below last year,”…
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