Skip navigation

Gloucestershire Business News

Merger could create UK’s biggest estate agency

Two of Britain's biggest estate agents are believed to be in talks about a £500m merger.

Countrywide, which owns brands including Taylors and RA Bennett, which both operate in the county, and LSL Property Services, which owns brands such as Your Move and Marsh & Parsons, are discussing an all-share deal, as reported by Sky.

It's not yet clear how close the deal is to going ahead, but if it does, it will create the UK's biggest estate agency group.

A merger will inevitably raise the question of job cuts from the combined workforce of about 14,000 people. With more than 1000 branches between them across the country, the two companies are likely to rationalise their branch network if they merge.

Countrywide is the larger of the two companies, with close to 10,000 employees, but would be the junior partner in any merger because of the lower total value of the company.

The rise of competition from online agents such as Purplebricks and HouseSimple has been an issue across the industry in recent years.

Related Articles

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, July 3 Image

Coronavirus LIVE Updates: The latest news from across Gloucestershire on Friday, July 3

The latest important news and updates from across Gloucestershire as the coronavirus crisis continues.

Bella Italia and Cafe Rouge closures cost 1,900 jobs Image

Bella Italia and Cafe Rouge closures cost 1,900 jobs

Cheltenham's Promenade and Gloucester Quays are both on a list of closures as the owner of restaurant chains Cafe Rouge and Bella Italia has gone into administration.

Medical group appoints new chief executive and chief commercial officer Image

Medical group appoints new chief executive and chief commercial officer

Bourton-on-the-Water based Summit Medical Group has strengthened of their senior leadership team with two key appointments.

Peel says Intu collapse will not hurt finances Image

Peel says Intu collapse will not hurt finances

The Peel Group - operators of Gloucester Quays - said the collapse of Intu Properties into administration will have no bearing on its financial health.

Copyright 2020 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.