Charles Russell Speechlys has advised the shareholders of Douglas & Gordon Estate Agents Ltd on the sale to London’s leading estate agency, Foxtons Group plc.
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Established in 1958, Douglas & Gordon is a London-based, family owned independent estate agent. Douglas & Gordon is an excellent fit for Foxtons’ existing business model due to its high level of customer service and compliance, well-established landlord relationships and similar customer-focused and results-based culture.
Commenting on the deal, James Evans, CEO at Douglas & Gordon said: “We’re really pleased with the deal, and have great admiration for Foxtons as a business, brand and competitor. Our offer is complementary to theirs and we know that with their backing, the Douglas & Gordon business can go from strength to strength. We look forward to working together to better serve buyers, sellers, landlords and tenants.
Michael Hodgson, on behalf of the selling shareholders said: “After nearly 42 years of ownership, the selling shareholders were delighted that the Douglas & Gordon brand is to become part of the Foxtons stable, under the existing leadership’s management. The 5 week period from terms being agreed to the target completion date was extremely challenging and could not have been achieved without the skilled guidance and committed support of David Coates and the rest of the Charles Russell Speechlys team”.
Partner David Coates at Charles Russell Speechlys added: “We are delighted to have worked with the shareholders of Douglas & Gordon on the sale to Foxtons. The transaction represents a landmark moment for the outgoing shareholders and it was a pleasure to guide them through the sale process. This is another great example of our corporate and private wealth practices working seamlessly to deliver first class advice”.
The Charles Russell Speechlys team, led by David Coates, included Mike Barrington and Zoe Bowler (Corporate), Louise Ward, Lynsey Inglis and Amy Shuttleworth (Property) Robert Birchall and Elliot Michaelson (Corporate Tax), Mark Bailey and Freddie Law (Commercial), James Bradford and Alice Mason (Trust matters), Clare Davis (Employment) and Michael M Jones (Pensions).