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

Printed Packaging Manufacturer
London, South East, UK

Long established with strong brand identity. High Levels of repeat business. Continually expanding customer base. Offers invited.

Asking Price: Offers Invited
Turnover: £847,000

Industrial & Elevator Door Engineering
South of England, UK Wide

Very High profile customer base. Framework agreement with world's leading elevator manufacturer. Outstanding track record . Exciting expansion opportunity. Offers invited.

Asking Price: Offers Invited
Turnover: £925,000

Automotive Development & Tuning Business (Fast Sale)
UK Wide

For Further Information: All enquires including requests for a non-disclosure agreement (NDA), should be directed to the below together with Your Name, Registered Company Name and Contact Number: Unconditional offers together with proof of funds to b...

Asking Price: Offers Invited
Turnover: £445,000


View more businesses for sale

News Search

Latest News

 
19
 
Jan
 

Luxury lodging group enters administration | ADMINISTRATION

An Essex-based company which operates eight luxury lodge par...

 
17
 
Jan
 

Fine paper business enters administration | ADMINISTRATION

Arjowiggins UK, which operates a number of trading companies...

 
15
 
Jan
 

Hawk Plant enters administration | ADMINISTRATION

The Shropshire company, that has previously undertaken landm...

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