Countrywide considering sale of commercial property business

Fri, 16 Dec 2016 | BUSINESS SALE

The UK’s largest estate agent, Countrywide, is considering a sale of its commercial property business Lambert Smith Hampton (LSH) as it battles a slowdown in the property market.

The firm bought LSH, a commercial, office and industrial agency, building surveyors and real estate consultancy, for £34.1 million in 2013.

Last month, Countrywide forecast a drop in transactions driven by stamp duty changes and the result of the EU referendum, warning that full-year profits would come in at the “lower end of market expectations”.

The firm reported group third-quarter revenue of £188.5 million compared with £197.1 million on the same period last year.

“A combination of changes in stamp duty and the EU referendum in June means transaction levels are currently running significantly below 2015,” Countrywide said at the time.

Estates Gazette reported that Countrywide is focusing on its core business and expects a sale of LSH to help it get through a difficult trading period.

The agent is understood to want to close a deal as soon as next month, and hopes to sell to private equity, not a competitor.

In a statement, Countrywide said: “Countrywide notes today's press speculation and confirms that it is undergoing a strategic review in relation to its Lambert Smith Hampton business.

“As part of that review, Countrywide is considering a potential disposal of LSH. The process is ongoing and there can be no certainty that any transaction will proceed. Further announcements will be made as appropriate.”

Find professional and financial businesses for sale.


Share this article



Latest Businesses for Sale

Luxury Kennels & Cattery
Yorkshire and the Humber, UK

Luxury kennels and cattery with professional grooming parlour (licensed for 142 dogs and 26 cats) in Peterborough for Sale. An opportunity to acquire this luxury kennels and cattery with stunning spacious four bedroom detached residence which must be...

Asking Price: £1,500,000
Turnover: £522,542

LEASEHOLD


Haulage Business
South Wales, Wales, UK

The business has been established for a number of years and has been owned and operated by the founder since that date. Offers invited.

Asking Price: £850,000
Turnover: £2,595,443

FREEHOLD


Bar & Function Room
Ilkley, Yorkshire and the Humber, UK

Situated in the heart of Ilkley town centre just off the busy Brook Street. The yard is a stylish bar offering a wide range of drinks, good, quality food, music with varied DJ’s and live artists all encompassed in an interesting layout. Offers invite...

Asking Price: £775,000
Turnover: £600,000

FREEHOLD



View more businesses for sale

News Search

Latest News

 
22
 
Mar
 

Scunthorpe nightclub up for sale | BUSINESS SALE

A former nightclub based in Scunthorpe has been put up for s...

 
21
 
Mar
 

Kent Logistics provider completes a successful acquisition | BUSINESS SALE

A Kent-based personalised logistics provider, backed by Livi...

 
20
 
Mar
 

Warrington construction company enters administration | ADMINISTRATION

A prominent construction business headquartered in Orford Gr...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide

Email


Related News

 
10
 
May
 

Rural supplies firm Countrywide puts all its shops up for sale | DIVISION SALE

Countrywide, the supplier of equestrian and farming supplies...

 
30
 
Sep
 

Countrywide snaps up Lambert Smith Hampton | BUSINESS SALE

The UK's biggest estate agency chain, Countrywide, has ...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources