LONDON (ShareCast) - Upmarket estate agent Winkworth is planning to list in London, possibly this autumn, despite the ongoing turmoil in the housing market.
The London-based firm wants to join the Alternative Investment market (AIM) as
part of a fundraising to pay for expansion across the UK and into India and the Far East.
Winkworth, one of the first estate agents in the country to adopt a franchise model, licenses its brand and marketing services to 85 offices of independent estate agents.
Of these, 55 are in London and 19 in the South of England. The remaining 11 are in Portugal and France. The company takes 8% of their turnover.
Britain's property market has suffered one of the biggest and quickest slumps in a generation over the past few years.
Bank of England figures revealed last week that prices tumbled 19% between the third quarter of 2007 and the first three months of this year.
Winkworth turned over £30m in 2006, the last year for which figures are available.
Dominic Agace, managing director and son of founder Simon, told The Times newspaper: "Now the boom is over, we are finding that a number of people have approached us recently to ask about joining the network."
There are also signs that the housing slump may be bottoming out, with figures from lenders Nationwide and Halifax revealing a rise in prices in May.
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