first_imgHome » News » Agencies & People » Why are so many estate agency firms selling up? Here’s one expert’s view previous nextAgencies & PeopleWhy are so many estate agency firms selling up? Here’s one expert’s viewConsultant who has advised on several of the more recent corporate mergers and acquisitions spills the beans.Nigel Lewis22nd March 202102,761 Views A consultant who had been involved in some of the high profile estate agency mergers and acquisitions over the past 12 months has revealed some of the key reasons for the flurry of companies that have been bought and sold recently.Anup Agrawal of consultancy Accelve has advised different sides of the larger deals including Foxtons and Leaders Romans Group’s recent purchase of independent agency Gibbs Gillespie.He says this flurry of activity, which has also included TPFG acquiring Hunters, which completed on Friday, and Linley & Simpson’s merger with fast-growing agency corporate Lomond Capital, are proof that private equity cash is becoming increasingly interested in the estate agency sector.“Unlike many other industries, the property industry remains incredibly fragmented and when PE firms look at the way SME independents control such a huge slice of the market, they believe there’s room to build empires,” he says.“Even the big agencies are lucky to hold a few percent of the overall sales market – remember the united Connells and Countrywide entities will still be lucky to have 9% of the market.”Market shareAnd as The Negotiator reported recently, Britain’s now second largest agency Purplebricks has been making a lot of noise recently after revealing that it holds just 5% of the market and that, it hopes, in two years to have 5.7%.Agrawal says other factors are at play. This includes many shareholders of larger firms such as Hunters and Douglas & Gordon realising that their firms need to team up within larger organisations to grow, agents like Dexters winning City backing to buy more competitors and companies like Foxtons changing tack to acquire market share through acquisition rather than cold starts.“Outside the corporate world it’s more about lettings – many agents are coming to retirement and both Covid and the tenant fees ban has accelerated their plans. And there are plenty larger competitors and investors happy to acquire their portfolios,” he says.“I don’t think it’s about revenue – most agents have persuaded their landlords to pay more following the fees ban – but lettings is getting harder and harder to make money from on a small scale, and any agency with fewer than say 100 properties is now looking around for options.”Accelve Anup Agrawal Lomond Capital Linley & Simpson Hunters connells Countrywide Dexters Douglas & Gordon TPFG Foxtons March 22, 2021Nigel LewisWhat’s your opinion? Cancel replyYou must be logged in to post a comment.Please note: This is a site for professional discussion. Comments will carry your full name and company.This site uses Akismet to reduce spam. Learn how your comment data is processed.Related articles BREAKING: Evictions paperwork must now include ‘breathing space’ scheme details30th April 2021 City dwellers most satisfied with where they live30th April 2021 Hong Kong remains most expensive city to rent with London in 4th place30th April 2021last_img read more


first_imgThe University of Wisconsin men’s golf team traveled to Cincinnati for the Bearcat Invitational to start the month of October. The lineup consisted of juniors Griffin Barela, Sam Anderson and Nick Robinson, and freshmen Coalter Smith and Sebastian Iqbal.Coldstream Country Club played host to 13 total teams, including Big Ten rival Penn State. Other major schools included Louisville, Arkansas, Cincinatti and Kentucky.After the completion of 18 holes, the Badgers sat at eight-over-par as a team, led by Anderson, Barela and Iqbal who all shot one-over-par. Robinson and Smith did not trail far behind their teammates shooting two-over and three-over-par respectively.The second loop around the course Monday put the Badgers in a tie for eighth with a combined six-over-par. Final scores after two rounds: Anderson and Iqbal two-over, Barela three-over, Smith five-over and Robinson seven-over-par.Men’s Golf: Badgers to defend home course in opening fall tournamentThe fall golf season is getting underway for the Badgers at University Ridge — their home course. In their own Read…Entering round three on Tuesday, Anderson and Iqbal were in a tie for 23rd place individually. As a team, the Badger’s sat at 11-over-par, a whopping 33 shots off the lead as Louisville dominated the field.The team ended their promising weekend with an overall score of 20-over-par, putting them in a tie for ninth out of 13 total schools. All five Badger golfers finished in the top 50 of the field.While the trio of juniors performed well, the true stars of the tournament for Wisconsin were the freshmen. Iqbal and Smith put together a strong pair of days to finish 29th and 37th overall, respectively.At the Badgers’ last tournament, the Badger Invitational, Anderson produced a ninth place finish in his debut outing. This time around, Iqbal was the best performer for Wisconsin, finishing at four-over-par. These two young golfers have proved that the future may be bright for Wisconsin golf.Look out for the Badgers Oct. 6 as they begin the Marquette Intercollegiate at the prestigious Erin Hills, home of the 2017 U.S. Open.last_img read more


first_imgAction in the KCCA game on Tuesday. KCCA won to stay top of the table with 9 points. PHOTO KCCAUPL Tuesday resultsKCCA     2   Soana         0SC Villa 1  JMC Hippos 0Express 1   Onduparaka 1,BUL      0   Saints 1URA      1   Vipers 1Kirinya 0   Sadolin 0Police    0  Proline 0Brightstars 0 Lweza 1KCCA continued their perfect start as the Azam Uganda Premier League (UPL) resumed Tuesday.Joseph Ochaya scored a rebound after his penalty was stopped by Soana goalkeeper Didi Muhammed, with a second coming from Muzamir Mutyaba as KCCA got a third straight league win.Mike Mutebi got one over his former colleague Sam Ssimbwa. They worked together at the start of the 2015/16 season but Ssimbwa’s contract was terminated for alleged match fixing.There were also wins for 16-time league champions SC Villa courtesy of a Ambrose Kirya goal, while Vipers and Express were held. Share on: WhatsApp Onduparaka, coached by Livingstone Mbabazi and Moses Oloya continued to show they are made for the top league, by snatching a point away at Wankulukuku.  They next host KCCA in Arua on Friday.What had been dubbed the game of the day, URA versus Vipers, ended in a frustrating draw.Erisa Ssekisambu’s late goal helped secure a draw for Vipers after Bokota Labama Kamana had put URA in charge earlier.last_img read more


first_imgFacebook12Tweet0Pin0Submitted by Westport WineryWestport Winery’s Roberts family has again collaborated with Johnny and Darlene Camp of Opal Art Glass in Cosmopolis. Together they designed and crafted a hand-blown glass lighthouse for Shelter From The Storm, the first true port-wine crafted by winemaker Dana Roberts.The new bottle is a scale replica of the winery’s lighthouse. Wine club members and their guests were treated to the unveiling of this unique bottle on Sunday, May 22, in the winery’s event pavilion. Winery co-owner Kim Roberts said, “We have the westernmost vineyard in Washington State, so we made sure the architecture and theme of our business reflected our incredible coastal community. That’s why we built a 40-foot lighthouse as part of our tasting room.”Like all of their wines Shelter From The Storm benefits a local charity. A portion of the proceeds from Shelter is donated to the Grays Harbor Hospital Foundation. Since they opened in 2008, the Roberts family has contributed over $300,000 to local charitable organizations.Photo Credit: Molly Bold, Portrait ExpressionsThe wine’s label features an original watercolor by Tokeland artist Wally Mann. Additionally, each wine is commemorated in the resort’s gardens with a sculpture by a local artist. They Shelter sculpture was also created by Opal Art (as are two other sculptures in the park). The two companies continue to produce their popular “Float” bottle, designed to resemble a Japanese fishing float.Westport Winery Garden Resort is located on the corner of Highway 105 and South Arbor Road halfway between Aberdeen and Westport. The winery (including the restaurant, bakery, nursery and gardens) is open daily and offers lunch and dinner from 11 a.m. to 7 p.m.last_img read more