Countrywide seeks new buyer for LSH as sale is delayed

Thu, 12 Mar 2020 | BUSINESS SALE

Countrywide has announced that it is seeking a new buyer for commercial real estate consultancy Lambert Smith Hampton (LSH), after a deal to sell it to property entrepreneur John Bengt Moeller failed to complete.

Countrywide and Mr Moeller had agreed a £38 million deal for LSH last November, with a completion date of January 20, 2020. At the time, Countrywide described the sale of LSH, which has over 40 offices across the UK, as “vital” to its long-term prospects.

However, a statement from the company has announced that: “Mr Moeller has failed to complete the transaction in accordance with the final timetable set for completion by 12.00 on 11 March 2020".

Countrywide goes on to say that, while it continues to engage with Moeller and still hopes to complete the deal, it will be considering alternative options for a sale of the business, including entering into discussions with a potential buyer who has actively expressed interest.

The company has also said that it is considering legal action to pursue damages and costs from Mr Moeller over the continued delay of the sale.

In its most recent accounts, made up to the year ending December 31, 2018, LSH held net assets of over £1.8 million and had share capital of close to £1.9 million.

In addition to its statement regarding the sale, Countrywide has issued a trading update for the group, registering total income for the year 2019 of £498 million, down from £515 million in 2018.

The update adds that there has been a positive swing in public sentiment this year, reflected in a strong start in agreed sales, ahead of expectations. However, it adds, the full impact of Covid-19 is yet to be seen. The group expects to report full year results later this month.

Share this article

Latest Businesses for Sale

Access Control Systems & CCTV Consultancy
Hertfordshire, South East, UK

Offers an extensive range of specialist property development solutions. Provides a multitude of security systems, including installation and maintenance. Works with circa 140 active clients, 85% of whom provide repeat business. Offered for sale to fa...

Asking Price: Offers Invited
Turnover: £530,000


Telegraph Pole & Fibre Optic Installation & Replacement Services
UK Wide

Works with national communications networks and utility companies to provide rapid, reliable telegraph and utility pole services. Operates nationally, predominantly working with clients based across the Midlands. Works with market-leading, blue-chip...

Asking Price: Offers Invited
Turnover: £2,450,000


Passive Fire Protection Specialist
UK Wide

Supplies and installs a range of comprehensive passive fire protection systems in buildings throughout the UK. Services offered include structural steel protection, fire stopping, acoustic and air sealing and soffit insulation. In addition to its cor...

Asking Price: Offers Invited
Turnover: £6,390,000


View more businesses for sale

News Search

Latest News


Iconic retailer Debenhams falls into administration once again | ADMINISTRATION

The long-established British retailer Debenhams has appointe...


Long Eaton furniture manufacturer enters administration | ADMINISTRATION

Long Eaton-based furniture group JDP Furniture has entered a...


Insurance broker bought out of administration | BUSINESS SALE

Flintshire-based insurance broker Staveley Head has been acq...

Free guide: 10 Biggest Buyer Mistakes

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


Related News


Countrywide to sell LSH | BUSINESS SALE

Estate agency firm Countrywide has agreed a deal to sell its...


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

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


Countrywide considering sale of commercial property business | BUSINESS SALE

The UK’s largest estate agent, Countrywide, is conside...

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