Founded in 1981, Foxtons started life as a two-person agency in Notting Hill. Over the years we are proud to have become London's leading estate agent.


Estate agency Foxtons Group has announced the successful pricing of its IPO of 169.4m shares of one pence each. The price has been set at 230p per share.

Based on the Offer Price, the market capitalisation of the Company will be approximately £649m on admission.

The Offer is expected to raise gross proceeds of approximately £390m, comprising a primary component of £55m and secondary sales of £335m. Secondary sales will consist of a partial sell-down by Adnams BBPM Holdings Limited (an entity controlled indirectly by funds advised by BC Partners), executive directors of the Company and certain other employees of the Group.

Conditional dealings will commence on the London Stock Exchange at 8.00 a.m. today under the ticker FOXT.

Admission to the premium listing segment of the Official List and to trading on the main market for listed securities of the London Stock Exchange and the commencement of unconditional dealings in the Shares ("Admission") are expected to take place at 8.00 a.m. on 25 September 2013. At Admission the Company will have 282,176,468 Shares in issue.

http://www.foxtons.co.uk/

london, perhaps more than other cities, is very location-specific with regard to desirability and demand

nevertheless, the london market is currently soft - quiet is probably a better word - though i hear that a good number of people have had their fingers badly burned by buying off-plan in some of the flashier locations along the embankment and similar

for all that, i think i am correct in saying that foxtons do not really operate in the upper echelons, and are perhaps stronger on the letting than the sales side

it's all very 2007ish from where I'm standing.

All the sub prime AIM junk is now pretty much falling on a daily basis...

But more importantly China isn't going to ride to the rescue this time.

Baltic dry index telling it how it is.

Sliding scale stamp duty I think has hit the top end of the housing market.

Personally, I am amazed at the Telephone numbers I see advertised for certain dwellings here in London. There must be a lot of seriously rich folk around to even contemplate putting in an offer.

baltic dry and the london property market don't have much if any connection or correlation

however, i think there remains some disquiet among foreign investors with regard to the implication and application of the new rules re evasion of stamp duty and similar wheezes

stockmarket topped out
housing market topped out
commodities topped out
oil topped out
world trade topped out
Baltic dry topped out.

Big correlation I'd say.

claret - just because you could buy 3 streets of terraced houses in blaenau ffestiniog for the price of a well-appointed 3 bedroom apartment in a desirable area of london, does not necessarily mean the latter is overpriced

similar comment applies to rentals

you'll be telling me next that the baltic dry has relevance because vessels carry bricks!

that said, i am on record as saying that i find it very difficult to be other than bearish about the markets, though at least for the time-being they continue to confound

meanwhile, it is not noticeably any cheaper to ship containers m/e to f/e and back, though at least there are currently no BAF surcharges

"that said, i am on record as saying that i find it very difficult to be other than bearish about the markets, though at least for the time-being they continue to confound"

nice you got there in the end..

sorry to be a bit ratty with you .... uncalled for :-)

however, with regard to the stock markets, it takes a brave man to piss against the wind, but certainly a weather eye needs to be maintained
as much as anything else, i'ld guess the stock markets - and bricks and mortar - offer a much better haven and return that gov't bonds and the like

Hey plenty of talk about the stock and sector but

Is there anyone holding the stock?

Just the prices seem to be not in the real world with everyday living costs.

I'm no longer holding mentor, good trading stock though :0) My take FWIW and WTFDIK, is if slide continues 160p good support. But if there is a santa rally, big if perhaps, then could rally to 220p. Place your bets :0)

yes, i do but for the longer term .... now looking ever longer
i really dislike the company's ethics but is certainly very sharp both in biz practice but also in being on the ball

i don't like DOM's product either, but sure like the share :-)

Chris Carson

re - support at 160p

Yes looks a good support around that price but that is another 15% further down to go yet.
Lately House builders had negative comments but estate agents are on the way down for some time now

mentor - exactly why a good trading stock, fill your boots if you fancy it. I'll just wait and see. :0)

UK-s-biggest-estate-agent-Countrywide-sees-shares-plunge-12 %

Chris Carson

A bit too early to fill my boots, I will wait closer to Christmas to fill the stockings ( Joke )

never traded the stock by the way

FOXTONS GROUP PLC

Trading Update and Dividend Announcement

3rd Feb 2016






Foxtons plc (LSE:FOXT) (the "Company"), London's leading estate agency, issues its trading update for the year ended 31 December 2015 ahead of its annual audited results announcement on 8 March 2016.



The Group achieved a solid performance during 2015 with revenue growth across all business segments. Group turnover was up 4% to £150m, despite latest available data showing London property sales transaction levels being some 11%1 below prior year.

Foxtons sales volumes increased by 4% as a result of market share gains, excellent performance within our New Homes business and the continued successful expansion of our branch network. Alexander Hall, our mortgage broker continued the strong growth seen last year, with 2015 revenue growth of 32%. Our residential lettings business generated over 20,000 transactions during 2015 and is a consistent revenue stream for the Group. As indicated in our Q3 statement, the mix within lettings shifted towards renewals with a record number of tenants extending their tenancies resulting in a lower level of new lettings stock availability in the market.

Performance in the second half of the year was particularly encouraging with Group Adjusted EBITDA2 growing substantially from the first half, with the full year expected to be in line with last year (2014: £46.2m) and margins remaining over 30%.

The Board is also proposing a final and further special dividend in respect of 2015 totalling 6.23p per share3, which will bring the total dividend for the year to 11.0p per share, an increase of 13.4% on 2014 (9.7p per share) representing over £30m in cash. The share buyback programme initiated by the Company on 16th December 2015 was funded from surplus accumulated cash resources. This and any future buyback programmes are not intended to lead to a change of the Company's dividend policy.

Although it is too early to predict residential property sales transaction trends for 2016 the Company enters 2016 with an encouraging sales pipeline, a strong lettings book and a proven strategy for further growth through organic branch expansion.

should have bought RMV instead but at least the results don't look bad at all