Hunters
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Latest property news
Auction revenues up!
David Sandeman, auction guru at Essential Information Group (EIG) reports that 144 auctions were held, with 3657 Lots Offered and 2774 Lots Sold (commercial and residential) in July - 24 fewer than last year...
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Latest property news
Hunters buys SW franchise firm Besley Hill for £2.5 million
Franchise giant Hunters has bought one of Gloucestershire’s larger estate agency networks in a deal worth £2.5 million, it has been revealed. All 15 franchised branches of 40-year-old firm Besley Hill are included in the deal which are all in Bristol, Wiltshire and Gloucestershire. Besley Hill began business in 1976 starting with a single branch in Kingswood, Gloucestershire (pictured, right) and then grew organically before expanding via franchising from 2004 onwards. The business also established a foothold in Gloucestershire after buying several branches from The Halifax. “Hunters’ national reach and reputation, combined with its strong focus on local ownership and local knowledge through its franchise model, is very exciting for us and represents great opportunities for the future,” Adam Offer, managing director of Besley Hill, told a local paper. “As all of our branches are franchised, the acquisition complements Hunters’ business strategy very well as well as enabling us to share our principles of delivering excellent customer service in both residential sales and lettings.” Day-to-day running Adam is the only remaining founder of the business, which he set up with Philip Besley and Robert Hill, and he and finance director Allison Firks-Matthews have agreed to stay on in the business…
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Latest property news
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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Latest property news
Hunters share price drops despite upbeat results
The City’s belief that even the largest estate agent chains have an underlying problem is highlighted by the Hunters share price which, after its up-beat annual results were announced last week, has dropped significantly. Since December last year the Hunters PLC share price on AIM had been holding steady at around 65p but on the day the results were issued dropped to 58p – and has since only recovered slightly. This is despite the York-based company revealing a 31% rise in pre-tax profits to £1.8 million on revenues of £13.8 million, up 15% compared to the year before. Branch openings Hunters says all its growth has come from franchisee branch openings, of which there are have been ten taking place every year, on average. In its results Hunters also predicting that it would outperform the market by 7% this year, and that so far instructions for the first two months of the year increased by 9%. Hunters has also been on the acquisition path recently and in March bought the 15-branch Gloucestershire and Bristol agency Besley Hill, bringing its network to over 200 branches. “The company has shown impressive growth, opening 30 new branches including converting 20 existing businesses,” says Chairman Kevin…
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Movers & Shakers
Hunters’ staff complete new qualification
Hunters has developed a formally recognised estate agency qualification for its network of branches.
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Agencies & People
Hunters’ expansion plans continue with Cotswolds opening
Hunters have opened in Malmesbury, Wiltshire, adding to their fast expanding network.
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Latest property news
Hunters reports strong performance as Harry Hill steps down from CEO role
Sales and letting franchise business Hunters has reported a strong performance in the second half of its financial year despite the challenges of the second homes Stamp Duty changes and Brexit, it says. This includes an aggressive push for more franchisees, its trading update reveals. Hunters says it is on track to add 30 franchisees this year taking the total to 180 branches of which 11 are owned and 169 franchised. The company which floated on AIM in July last year, also reports that during 2015 existing businesses reporting their first full calendar year with the group grew turnover by 29%. This has helped increase revenue for Hunters, which says network income to 31st October 2016 was almost £29 million, an increase of 16% on last year’s results. The company also has reported that its network is split 58/42 between the south and north, and the lettings income increased by 18% compared to last year. But Hunters also says it is less exposed to a potential ban on tenant fees because 72% of its group revenues are from sales and that it is therefore “confident [the company] can manage and adapt accordingly”. “The Board is aware that the industry experienced…
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Latest property news
Hunters reports profits up by 46 per cent
First set of results as a public company show impressive growth.
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Agencies & People
Hunters expands in central London
Hunters continues its expansion in central London with a new branch in Willesden Green, joining successful offices in West Hampstead, Harrow and Harrow on the Hill. Glynis Frew, Managing Director of Hunters Property Plc said, “We are delighted to see our continued expansion in London and welcome Franchise Owner Shahzad and his team to the Hunters network. We already have a strong presence across the capital and plan to widen our reach further throughout 2016.” Shahzad has lived in the area for 35 years, he says, “When I decided to open my own estate agency franchise, I wanted to do this with the support and reputation of one of the nation’s most recognised and trusted brands.” “We are seeing a real mix of buyers in Willesden Green, including inner city dwellers moving further out and people looking to live closer to central London. Trendy new bistros, bars and shops are beginning to appear along the high street, adding to the already vibrant atmosphere developing in the area.”
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Housing Market
Investing in the (newbuild) future
Giles Leadbetter of Hunters Land & New Homes, London, speaks to Marc Da Silva about Hunters’ new Residential Development Investment division.
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