Globrix sells stake to Digital Property Group

The Digital Property Group (TDPG), whose websites include PrimeLocation.com and FindaProperty.com, has bought a 50% stake in free-to-list UK property portal Globrix.

The move will further consolidate TDPG’s position as the second largest property portal network in the UK after Rightmove, taking the group above 2.5 million monthly users for the first time.

Although Globrix does not currently offer overseas property, the logical commercial step would be populate the site with all the properties (including overseas) from Primelocation.com and FindaProperty.com to provide existing advertisers with added value and eliminate cost inefficiencies. However, Mark Milner, CEO of TDPG insists this is not the case:

“It is important that I immediately stress that Globrix.com will remain a free-to-list portal. The addition of Globrix to the TDPG network is indicative of our desire to offer agents and consumers a compelling proposition – together, we will have the most complete inventory in the market and continue our drive to offer consumers, estate agents and developers a unique solution”.

Milner says the main benefit of the acquisition will be to help TDPG cross-sell other products to existing Globrix agents: “It will also help us towards our ambition of having a relationship with every agent in the land – and it gives agents with no previous experience of advertising with TDPG exposure to our breadth of consumer and agent services, such as Insight”.

Globrix was launched by entrepreneurs by Daniel Lee and Ian Parry in January 2008. It was originally backed by News International, part of Rupert Murdoch’s news corporation but their stake was bought back by Lee and Parry in the autumn of last year.

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