Words: Ashley Rigg
Published: 14th October 2009
UK: Halifax Estate Agents in takeover talks
The UK’s third largest estate agency group, LSL Property Services is in talks with Lloyds Banking Group to finance the purchase of Halifax Estate Agency, the UK’s number four player. If the deal goes through, LSL would add 220 branches to its network propelling it to second place behind Countrywide.
Estate Agent Today reports that although Halifax Estate Agents has stock market valuation of £250 million, the price LSL is likely to pay is just £10 million.
If the deal goes through, LSL would add some 220 offices to its network, bringing total branch numbers to around 600 – propelling it above the size of Connells, and into second place behind Countrywide.
Halifax closed 85 branches last year and another 30 this year as well as offering franchises to staff members to offload costs. LSL was formed as the result of a management buyout of Your Move from Norwich Union. It trades as your Move and also owns Reed Rains.
The Top 10 estate agency groups
According to Estate Agency News, the biggest agencies by branch numbers are currently:
|
Ranking |
Estate Agency Groups |
Branches - Jan 09 |
1
|
Countryside plc |
1104 |
2
|
Connells |
470 |
3
|
LSL Property Services plc |
378 |
4
|
Halifax Estate Agency |
244 |
5
|
Spicerhaart
|
173 |
6
|
Arun Estates |
113 |
| 7 |
Savills |
78 |
| 8 |
Hamptons International |
70 |
| 9 |
Kinleigh Folkard & Hayward |
59 |
| 10 |
Chesterton Humberts
|
57 |
Full top 50 list on
Estate Agency News.
Full news story on
Estate Agent Today .
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