Franchise agency giant opens 99th branch

Winkworth has opened a new branch in Reading, bringing the franchise giant's total to 99.

The office will be owned and operated by Jon Hallett, who previously owned an agency in the town, and Michael Foldvari who has over 13 years of experience in estate agency.

Dominic Agace, Winkworth chief executive, says this fulfils one of the company's key goals, to expand into key commuter locations in order to support the large number of clients seeking to relocate.

Earlier this autumn the firm reported strong results for the first half of 2014 with sales income up by over 20 per cent, pre-tax profits up by a third, and four new offices opened - Salisbury, Ramsbury, Enfield and London Colney.

Winkworth's franchisees increased sales transactions by 28 per cent, with a particularly strong showing in the country markets where transactions were 43 per cent higher.

The gross property revenues of franchisees grew by 23 per cent from £19.1 million to £23.5 million, within which rental income rose by 11 per cent to £7.9m.

Although each office is individually owned and operated, Winkworth has now launched a six-person client services department, initially across 30 offices, referring applicants across the group.