Today’s announcement that Countrywide (1,200 offices and 43 estate agency brands including John D Wood & Co) had bought upmarket agents Hamptons International (23 offices in London and a further 41 the South and 20 overseas) making it UK’s largest estate agency chain global sent a shock wave through the property industry.
The January announcement that Drivers Jonas had merged with Deloitte had a similar impact. So the question that is now probably front of mind for many property partnerships must be “Should we join forces with another practice – bigger being better?” and then perhaps: “If so, how? Another property firm or a practice from a different discipline”. Whilst Drivers Jonas joined with accountants, a small practice in Monmouthshire saw agents combine with a legal practice (www.properts.co.uk).
Interesting times indeed.
(News report below refers - FYI)
Countrywide buys Hamptons in surprise deal
Friday 18th June 2010
Countrywide has bought upmarket agents Hamptons International in a landmark deal which takes the UK's largest estate agency chain global.
The acquisition, which includes rights to expand across Europe and Asia, is for an undisclosed sum.
The deal – an outright purchase – includes the global business operations of Hamptons International, one of the premier international residential agencies, and its network of more than 80 branches in the UK and overseas, together with rights for further global expansion.
The acquisition forms a key part of Countrywide’s strategic plan to further expand into the prestigious high-end property market, following the recent purchase of the Sotheby’s International Realty franchise in the UK.
Countrywide emphasise that the business will continue to trade as Hamptons, just as its other 43 brands have their own separate identity.
Grenville Turner, Countrywide group chief executive, said: “This acquisition is a major breakthrough for both companies – they are a perfect fit. We identified that Hamptons International offers a key growth opportunity, and we recognise the quality of its brand, its people, its branch locations and international credentials.
“Countrywide has a proven track record of growing and investing in strong businesses, which speaks volumes in terms of what we can offer Hamptons International. This acquisition will extend our market coverage and support our plans to capitalise on the opportunities in the prestigious high-end property sector.”
Hamptons International will continue to operate as a business in its own right and will join Countrywide’s network of 1,200 offices and 43 leading estate agency brands, which includes John D Wood & Co.
Shakeel Barok, acting managing director of Hamptons International, said: “This news marks an exciting new era for Hamptons International to continue to expand and diversify our business. The strength and breadth of Countrywide’s services and infrastructure will enable Hamptons International to continue to drive its vision and business strategy forward.
“This collaboration highlights the value and reputation of the Hamptons International brand within the market. There is strong synergy between the two companies and I look forward to working together to extend our market reach.”
The sale was agreed with Dubai-based Emaar Properties, which has retained a tiny handful of Hamptons International branches, in Dubai, Oman and Morocco.
Countrywide currently employs more than 9,000 staff in the UK across all its divisions, including financial services.
Further acquisitions are likely later this year.
Have your say on this story using the comment section below
Terms & Conditions
- Information and ideas shared in this blog are intended to inform rather than advise. Circumstances vary greatly and if you feel that the information provided is beneficial you should contact us before implementation. We will not accept responsibility for any financial or other loss incurred as a result of the action you take from reading these blogs and their comments.
- haysmacintyre reserves the right to delete or alter posts at its own discretion and without notice or explanation. Comments posted on the site which haysmacintyre deems to be unacceptable or inappropriate will be removed. This includes but is not limited to:
- anything which is obscene, pornographic or otherwise objectionable or illegal;
- violations or infringements of any statutory, common law, copyright, design right or any other intellectual property rights of any other person or entity;
- commentary which contains material which would be in breach of confidence or in contempt of Court;
- viruses or other similar contaminating or destructive features.
- Outside of UK office hours, comments will not appear on the site until they have been accepted by the moderator.
- Your name will be displayed by your comment. All other personal details will remain private. haysmacintyre will not add your details to any of its mailing lists or its database unless specifically asked to do so. (Please complete our newsletter sign up form if you want to be added to our mailing list). Your details will not be shared with third parties.
- Material may not be copied, reproduced, republished, downloaded, posted, broadcast or transmitted in any way except for your own personal non-commercial use.
- While haysmacintyre will keep web links as up to date as possible, it cannot guarantee the suitability or accuracy of content to any other sites.
- For more information please read our full privacy policy.
- If you have questions or concerns regarding the use of the haysmacintyre blog please call our marketing team on 020 7969 5668 or email marketing@haysmacintyre.com
Media right usage
If you seek permission to use these blogs or any of their content on your own website or as the basis of an article you are writing, or to interview the author, please contact our marketing department on 020 7969 5668.