Connells Group

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search

Connells Limited
(trading as Connells Group)
Limited company
Industry Real estate
Founded 1936 (Luton)
Headquarters Leighton Buzzard, Bedfordshire
Key people
David Livesey

(Group Chief executive)

Stephen Shipperley

(Group Executive chairman)

David Plumtree

(Group Chief Estate Agency Executive)

Stephen Nation

(Group Lettings managing director)

David Miles

(Mortgage Services managing director)
Parent Skipton Building Society
Website connellsgroup.co.uk

Connells Limited, trading as Connells Group, is a British estate agency and property services company headquartered in Leighton Buzzard, and a subsidiary of Skipton Building Society. Connells Group has around 600 branches across the UK and operates under multiple brand names including: Connells, Sequence, Allen & Harris, Bagshaws Residential, Barnard Marcus, Brown & Merry, Fox & Sons, Jones & Chapman, Manners & Harrison, Roger Platt, Shipways, Swetenhams, William H Brown, Sharman Quinney, Peter Alan, Burchell Edwards, Gascoigne Halman, Hatched and Rook Matthews Sayer,Kevin Henry.

History

In 1936 the first Connells estate agency branch was opened in Luton, Bedfordshire.

In 1969 Connells' estate agency branch network was acquired by the Constantine Group.[1]

Connells was listed on the London Stock Exchange in 1984.[1]

Connells was sold by Constantine Group in 1991,[1] and acquired by Scottish Widows. In the same year, Connells acquired the western division of Prudential Property Services, increasing its number of branches to around 150.

In 1996 Connells was acquired by Skipton Building Society which bought a major shareholding in the company alongside Connells' senior management.

In 2000 Connells played a leading role in the launch and development of Rightmove.

Connells acquired Sequence estate agency in 2003',[2] increasing its estate agency network to around 500 branches. In the same year, Connells acquired estate agency Sharman Quinney.[3]

In 2004 Connells Group wins first industry awards at Estate Agency of the Year Awards and Lettings Agency of the Year Awards.

In 2006 Rightmove plc floated on the London Stock Market valuing the business at £400m. Connells Group owned 29% immediately prior to flotation.

In 2007 Connells Group acquired shares in the Asset Management Group (AMG) and The New Homes Group.

In 2008 Connells Group sold its remaining 18% stake in Rightmove plc.[4]

In 2010 Skipton Building Society acquired nearly 100% of Connells Group. In the same year, Connells Group acquired a major shareholding in Vibrant Energy Matters,[5] a provider of Energy Performance Certificates, formed a strategic relationship with online property services company Zoopla, and established Redstone Wills.

In 2011 Connells Group acquired a shareholding in the conveyancing and remortgaging panel management services provider LMS Group.[6] In the same year, Connells acquired independent estate agency Burchell Edwards including conveyancing firm Be Legal.[7]

In 2012 Connells acquired a 25% strategic stake in residential property fund manager, Hearthstone Investments plc.[8]

In 2013 Connells Group initiated a major expansion programme for its residential lettings business.

In 2014 Connells Group acquired the Peter Alan chain, which operates in south Wales, from the Principality Building Society for £16.4m.[9]

In 2015 Connells Group acquired Hatched an online estate agency.[10]

In 2015 Connells group acquired the Liverpool business of Farrell Heyworth an independent Estate Agent based in the North West of England.[11]

In 2015 Connells Group acquired Gascoigne Halman estate agency.[12]

In 2016 Connells Group acquired Rook Matthews Sayer estate agency.[13]

In 2016 Connells Group acquired Residential Lettings agency Touchstone Residential and rebranded offices to Connells whilst inserting sales teams to all Lettings offices.

Operations

Connells Group provides residential property sales and lettings services, mortgage services, conveyancing, EPCs, surveying, corporate lettings, asset management, land & planning, LPA receivers, auctions, wills and insurance.

Connells Group's subsidiaries include Conveyancing Direct (property lawyers), AMG (Asset Management Group), Connells Survey & Valuation, The New Homes Group (including New Homes Mortgage Helpline, New Homes Part Exchange and IMH), TM Group, Vibrant Energy Matters (an EPC provider) Redstone Wills, Just Wills, LMS (a conveyancing and remortgaging panel management provider) and Hearthstone Investments.

Criticism

Connells Group have faced criticism on a number occasions of hard selling and pressuring clients to use the groups in-house mortgage services using tactics such as not allowing viewings or to place offers on properties before signing up to the in-house service.[14][15][16][17][18][19]

In February 2016 Connells appeared on a list of 92 companies which had in at least one instance been found to have failed to pay the minimum wage to employees.[20] In April 2018 Connells Survey and Valuation business was named in the top 10 of UK companies with the highest gender pay gap.[21]

References

  1. ^ a b c "Our History – Constantine Group". constantinegroup.com. Retrieved 4 February 2018.
  2. ^ "Connells buys Sequence – Mortgage Strategy". 22 October 2003. Retrieved 27 July 2016.
  3. ^ "PROPERTY: Major stakehold sold to Connells". peterboroughtoday.co.uk. Retrieved 27 July 2016.
  4. ^ "Bombshell as Connells sells Rightmove holding..." Estate Agent Today. Retrieved 27 July 2016.
  5. ^ "Connells snap up national energy assessor firm..." Estate Agent Today. Retrieved 27 July 2016.
  6. ^ "LMS strengthened by acquisition by leading estate agents – Today's Conveyancer". 17 July 2011. Retrieved 27 July 2016.
  7. ^ "Connells snaps up 16-branch independent chain..." Estate Agent Today. Retrieved 27 July 2016.
  8. ^ "Connells acquires stake in buy-to-let investment fund..." Letting Agent Today. Retrieved 27 July 2016.
  9. ^ "Connells snaps up Peter Alan agency for £16.4m". 31 July 2014. Retrieved 27 July 2016.
  10. ^ "National estate agent Connells snaps up online firm Hatched". Retrieved 27 July 2016.
  11. ^ "Connells firm Sequence snaps up major city business". 20 May 2015. Retrieved 27 July 2016.
  12. ^ Ltd, Insider Media. "Connells acquires Gascoigne Halman". Retrieved 27 July 2016.
  13. ^ "Rook Matthews Sayer acquired by Connells Group | UNW". www.unw.co.uk. Retrieved 27 July 2016.
  14. ^ Connells accused of hard-sell tactics to get buyers to use mortgage services
  15. ^ Connells under fire for 'strong arm' mortgage tactics
  16. ^ Investigation: Estate agent hard sales tactics harm consumers
  17. ^ The great mortgage fix: How estate agents trick buyers into spending more
  18. ^ Pair claim they lost chance to buy home after refusing mortgage service
  19. ^ Dodgy estate agency practices put under spotlight in TV programme
  20. ^ 92 employers named and shamed for denying workers minimum wage – your rights and what you should be getting
  21. ^ Gender pay gap: worst offenders in each sector revealed as reporting deadline passes

External links

  • Connells Group
  • Connells
  • Sequence
  • Gascoigne & Halman
  • Hatched
  • Peter Alan
  • Skipton Building Society
  • Farrell Heyworth
  • Rook Matthews Sayer
Retrieved from "https://en.wikipedia.org/w/index.php?title=Connells_Group&oldid=852746578"
This content was retrieved from Wikipedia : http://en.wikipedia.org/wiki/Connells_Group
This page is based on the copyrighted Wikipedia article "Connells Group"; it is used under the Creative Commons Attribution-ShareAlike 3.0 Unported License (CC-BY-SA). You may redistribute it, verbatim or modified, providing that you comply with the terms of the CC-BY-SA