Author: Benjamin

[openai_chatbot] rewrite this content and keep HTML tags as is: Jake Gathercole Jake Gathercole, a former senior branch manager at Leaders Romans Group and area manager at Sequence, has successfully completed on the acquisition of Allhomes estate agents in Thurston, which operates throughout Suffolk, for an undisclosed sum. Gathercole has purchased the independent estate agency business from founder Juliette Hayden who previously owned the company for 22 years. Hayden is staying on with the business as an aftersales progressor to facilitate the continued service levels and success of the business. Gathercole said: “I’ve admired Allhomes for many…

[openai_chatbot] rewrite this content and keep HTML tags as is: Foxtons has announced the commencement of a share buyback programme of up to £3m. The Board continuously reviews shareholder return opportunities, and specifically the use of share buybacks, considering factors such as earnings per share accretion, borrowing capacity and leverage. After considering the company’s prevailing share price, balance sheet position, forecast liquidity and timing of further lettings portfolio acquisitions, the board has decided to return capital to shareholders through the buyback programme announced yesterday. The proposed share buyback will be funded using the group’s existing cash balances and revolving credit…

[openai_chatbot] rewrite this content and keep HTML tags as is: Rentman developer Nigel Gomm is appealing to agents affected by the recent software issues not to abandon the service provider following a split from the platform’s UK distributor. Hundreds of agents have been struggling with the sudden software switch and significant business disruption, prompting key competitors such as Street and Alto to move in to take advantage of the situation and win new business – at Rentman’s expense. A number of agents have struggled to work with a replacement service supplied by GNB after Rentman Software Ltd, which was the UK…

[openai_chatbot] rewrite this content and keep HTML tags as is: Henry Adams has further expanded its lettings division following the acquisition of a second lettings agency in four months. The independent estate agency group, which operates across West Sussex, Hampshire and Surrey, has announced the purchase of Selsey Properties Lettings, which comes four months after the company acquired Charles Peck Lettings. This latest addition, as part of a wider growth strategy, has taken the Henry Adams managed portfolio to more than 3,000 properties, strengthening the group’s position as one of the main residential lettings specialists in the region. “We’re delighted to…

[openai_chatbot] rewrite this content and keep HTML tags as is: safeagent warns that solicitors who find themselves carrying out letting agency and property management work must comply with Client Money Protection (CMP) legislation after one was recently fined for not belonging to an approved scheme. Shropshire Council issued the civil financial penalty of £8,400 after discovering the solicitor was undertaking property management or letting agency work and holding client funds while not a member of an approved client money protection scheme. Following an appeal to the First-Tier Tribunal, Judge Brian Kennedy KC considered detailed submissions from both parties. In a…

[openai_chatbot] rewrite this content and keep HTML tags as is: A new self-management platform for landlords has launched claiming that it can do everything a lettings agency can but at a fraction of the cost and ‘in minutes’. Cohab says its self-managed platform streamlines every aspect of the rental management process, from property listings, tenant screening and automated rent collection. The new platform also allows landlords to create customisable listings, with the ability to update property details, descriptions and photos. The Cohab platform is free to use, with the ability to add additional premium features, for example, listing your property…

[openai_chatbot] rewrite this content and keep HTML tags as is: Prime minister Keir Starmer A large number of estate agents have expressed disappointment by Labour’s approach to managing the property market A new survey commissioned by GetAgent has revealed discontent among a significant share of property professionals with respect to its approach to managing and stimulating the property market, with fewer than one in five believing its ambitions to build more homes is enough to address the current issue of housing affordability. The survey of 337 estate agents in England, carried out by ProperPR, asked how they would best describe the…

[openai_chatbot] rewrite this content and keep HTML tags as is: One out of three landlords (31%) are considering selling up due to economic and regulatory challenges, new research from Aldermore shows. The shrinking of available rental properties could place further strain on the private rental sector and tenants’ ability to secure homes. The main motivating factors driving landlords to potentially divest are high maintenance costs associated with their rental properties, and increased regulation of the sector e.g. the Renters Rights Bill (34% respectively). Recent changes to stamp duty on buy to let properties announced in the Autumn Budget are also…

[openai_chatbot] rewrite this content and keep HTML tags as is: Arun Estates has launched a new AI Virtual Staging tool, designed to help potential buyers visualise the full potential of a home. Whether a room needs a slightly cleaner look or a full makeover, the AI Virtual Staging platform allows users to reinvent spaces, offering a new approach to selling. “First impressions really matter, and AI Virtual Staging allows buyers to see the true potential of a home in an instant,” said Luke Salmon, head of marketing at Arun Estates. “By making spaces more visually appealing, we…

[openai_chatbot] rewrite this content and keep HTML tags as is: The Property Franchise Group has just published its final results for the year ended 31 December 2024 (“FY24”). Financial highlights Group revenue increased 146% to £67.3m (2023: £27.2m), 6% like for like increase to £28.7m with 52% (£35m) of revenue from recurring revenue sources Management Service Fees (“MSF”) increased 76% to £28.3m (2023: £16.1m) Financial Services income increased to £19.2m (2023: £1.5m) Licensing income of £7.2m, £5.2m of which is recurring Adjusted EBITDA2 increased 99% to £24.1m (2023: £12.1m) Adjusted profit before tax increased 99% to £22.3m (2023: £11.2m), like…