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/

Asking myself, what happens to Estate Agents et al if we have a mild recession with Bricks and Mortar at Amazon.com levels?

Oh Dear. What a shame, never mind.

depends how good they are at their job

the likes of PURP absolutely stink ...... ask any professional who has looked at their contract ....... total rip-off and they have no care or interest on whether your house is sold or not

Foxton's says London property sales "near historic lows"

i wonder how buoyant the rental market is in comparison .... that certainly used to be FOXT's main focus and strength

London is so busy. Where everyone stays is beyond me. Tube full whenever you get on it.

Has to be Rental Market that serves all these folk.

The locals don't look caked in my view.

there are such things as overseas visitors, but i understansd that they usually stay in these peculiar things known as hotels or even Airbnb (whatever that may be)

Oh Dear, what a shame. never mind.

whoopsadaisy
is this one heading for the glue factory?
their hard sell ethos has probably backfired

All Housebuilders and Estate Agents are of the pace. My take is that the headline price is off the scale for most. Adjustment ongoing for a few years and its nothing to do with Brexit. Prices been ramped to a point where the ceiling has been reached. If the "Unreliable boyfriend" pulls the trigger with rate rise (I seriously doubt it) then more downside to come.

cynic, (2017 post no. 264.), you may not like the PURP business model - but as an investment it's risen 100% in the past 2-years, whereas FOXT has slipped badly over four years off its high, in 2014.
Of course some of the fall is bound to be "falling-house-prices" which is a common perception and must affect the big-ticket deals that FOXT were interested in. I think BREXT has an effect... not that it should, but folks may wonder if things will change.

However, whilst I think PURP is overpriced - As an investment 2-yrs ago one has to wonder why I didn't spot it.... probably because it wasn't "Good-Value" then ( and still isn't IMHO), based on Yield, P/E and similar markers.

FOXT should have seen the internet coming and developed their own channel, maybe with an entry-price for those "looking" = to remove voyeurs. After all, if you are splashing £10m you won't mind a £100k Fee to gain entry to the latest on offer. Similarly FOXT should be able to mediate with developers who sell off-plan and maybe don't want too many locals seeing what they are up to, at least until the building-work has started.
I don't follow FOXT, but their sp movement maybe tells it all, along with a sizeable PE ratio. FOXT was in the main-fallers today.
Cheers.