Kevin Hollinrake
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Latest property news
Hunters beats ‘difficult’ market by attracting more successful independents to its network
AIM-listed company says the average turnover of branches joining its network is £173,000, an increase of £20,000 compared to 2016.
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Latest property news
Holding deposits to be excluded from letting fees ban, confirms Minister
Announcement comes during wide-ranging debate in Commons this morning led by former Hunters boss Kevin Hollinrake MP.
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Latest property news
One in five MPs are landlords, register reveals
One in five MPs are landlords, it is has been revealed following the release of MPs’ financial interests for the first time since this year’s General Election. MPs are required to give information on buy-to-let properties if they are worth more than £100,000 and/or generate an income of more than £10,000 a year. High profile MPs with rental properties include Hunters chairman Kevin Hollinrake (pictured, left), MP for Thirsk and Malton, who owns a third share in six residential properties in York as well as former housing ministers Brandon Lewis and Mark Prisk (pictured, right). Other notable MPs who are landlords include Hilary Benn, speaker John Bercow, Dr Liam Fox, Zac Goldsmith, Chancellor Phillip Hammond, Jeremy Hunt, Oliver Letwin, John Redwood, Keir Starmer, Emily Thornberry and Keith Vaz. These are just some of the 123 MPs who have registered buy-to-let interests. Properties include houses, flats, farm and holiday cottages, says Channel 4’s FactCheck. Labour MP Laura Pidcock (pictured, left), who recently revealed she couldn’t afford to bet on the property ladder despite her £76,000 MPs salary, told Channel 4 that she thought “anyone who is a landlord should not be able to vote on legislation affecting landlords, it is a complete…
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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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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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Agencies & People
Hunters takes aim at London float
Hunters is preparing to float on the AIM market of the London Stock Exchange to take advantage of the improving residential property market. The large estate agency firms, which has over 150 branches, the vast majority of which are franchised, has already appointed Numis Securities as Nominated Adviser and Broker with a view to start trading on AIM by the end of next week. Kevin Hollinrake (left), the Chairman of Hunters, who was recently elected as a Conservative MP, said, “Hunters is a highly ambitious company. Our success to date has been born out of our focus on providing our customers with an exceptional service combined with local market knowledge. The Group is excited about its next chapter as a public company. This status will help to further enhance the Hunters brand and provide access to capital to accelerate business growth.” Hunters last week welcomed Norfolk-based Kudos Residential to its fast growing network estate agents. All seven of Kudos Residential’s branches, located across the county, including the main towns and cities of Norwich and Great Yarmouth, have all been rebranded. Glynis Frew (right), Managing Director of Hunters Property Group, said, “This is another exciting milestone for Hunters. As we continue…
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Features
From property to politics
A dramatic career change has propelled Kevin Hollinrake into the spotlight. The founder of Hunters reflects on the current state of the property market.
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Agencies & People
Odds shorten on estate agent winning seat in May
Bookmakers have slashed the odds on Kevin Hollinrake, Managing Director and Co-Founder of Hunters Property Group, being elected MP for Thirsk & Malton after his nearest rival, and existing MP for the North Yorkshire, announced last week that she will not be seeking re-election on 7th May. Anne McIntosh (left), the Conservative MP, confirmed she will not run as an independent in the General Election, after she was deselected by her party. She said she would focus on returning a Tory government by campaigning for candidates in marginal seats instead. McIntosh has been the MP for Thirsk & Malton, North Yorkshire, since 1997, and was previously an MEP. She commented, “Many have asked me to stand locally in some capacity. I am honoured but my place is within the party and I would never put personal ambition ahead of the best interests of the country, which can only be served by another Government led by David Cameron. “To all those who have so loyally supported me and who have expressed disillusionment and a sense of being disenfranchised, I urge them to put aside their disappointment and ask them to consider that the alternative would not be good for the constituency,…
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