Countrywide to sell LSH

Fri, 29 Nov 2019 | BUSINESS SALE

Estate agency firm Countrywide has agreed a deal to sell its commercial property wing Lambert Smith Hampton (LSH) for £38 million.

Countrywide, which has been looking to reduce its debt, will sell the consultancy to Monaco-based property developer John Bengt Moeller, founder of Great Global Holding, which acts as a holding company for numerous UK and international commercial property businesses.

The deal will reduce the company’s debt burden by £34 million, Countrywide says. Its net debt was at a reported level of £90 million in June. Countrywide also said the deal would significantly strengthen its capital structure and allow it to focus on its core residential services business.

LSH was acquired by Countrywide in 2013, it has over 40 locations across the UK and Ireland, employing around 1,700 staff. It manages 7,700 properties and advises on £16 billion of property per year.

Countrywide executive chairman Peter Long said: "The sale of the Lambert Smith Hampton commercial business strengthens the group. Once completed, we believe that the group will be in a more advantageous position in our core residential market. The group remains on course to deliver a full year result in line with the board's expectations."

The deal is subject to approval from shareholders and is expected to be completed on December 31.

Countrywide has also announced the agreement of an amended credit facility with its lenders, as it looks to gain the “financial flexibility” to continue its turnaround in a challenging market environment.

Countrywide was advised by a team from law firm DWF, lead by partner Lester Wilson with Amelia Mackie, Tim Howden, James Lonsdale, John Toon, Andrew Carr, Jim Speed, Nick Wallace and Helen Balliger.

Share this article

Latest Businesses for Sale

IFA Advisory Business
West Midlands, UK

Long established and award winning. Established nearly 2 decades ago to provide a professional and comprehensive service to clients within the West Midlands area. A part of a leading UK network. Offers invited.

Asking Price: Offers Invited
Turnover: £500,000

Chartered Financial Planners
London, UK

A long-established firm of Chartered Financial Planners / specialist Wealth Manager servicing a portfolio of 2,000 clients, all active and retained on signed service agreements. Offers invited.

Asking Price: Offers Invited
Turnover: £1,800,000

Two Partner Solicitors’ Practice
Devon, UK Wide

The Partners wish to retire although they are prepared to discuss individually proposals to continue working for an agreed time after disposal to assist with the transfer of the goodwill of the business. Offers invited.

Asking Price: Offers Invited
Turnover: £562,000

View more businesses for sale

News Search

Latest News


28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...


Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY

Tile retailer Topps Tiles has agreed the £18.1 million...


Aldo UK falls into administration | ADMINISTRATION

Footwear retailer Aldo UK has entered into administration du...

Free guide: 10 Biggest Buyer Mistakes

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


Related News


Countrywide seeks new buyer for LSH as sale is delayed | BUSINESS SALE

Countrywide has announced that it is seeking a new buyer for...


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