Sotheby’s Countrywide estate agency link - Business - Evening Standard
       

Sotheby’s Countrywide estate agency link

Countrywide, Britain's largest estate agent, today linked up with auction house Sotheby's to sell multi-million-pound homes in London and beyond.

The firm, which owns estate agency brands such as John D Wood, Bairstow Eves and Gascoigne-Pees, bought the rights to grow Sotheby's International Realty across the UK.

Under the 25-year licencing agreement Countrywide takes control of Sotheby's only estate agency branch in Britain — the prestigious Mayfair office which includes a £16 million, eight-bedroom house in Hyde Park Gardens on its books.

Robert Scarff, managing director of Countrywide Estate Agents, said: "The Sotheby's International Realty brand is iconic and offers a huge potential for quality growth.

"The strength of the UK property market for foreign invetors makes this an ideal acquisition for us."

Countrywide chief executive Grenville Turner said: "One area where we feel we are not punching our weight is in the high-end market.

"Sotheby's is the best brand name in the sector, in addition to which it brings huge international opportunities for us."

He said expansion would start in London before spreading out across the country.

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