Chesterton Humberts is to split its residential activities into two companies with separate brand names and different geographical areas.
Chestertons' will consist of the current 29 London offices and 20 international branches while Humberts' will operate the 24 existing branches outside of the M25.
Chesterton Global, which will be the parent company of the two new brands, says the new Chestertons entity will see to open 20 new branches inside the M25 over the next three years whilst Humberts will seek to expand - no specific targets have been given, although any new branches will be in the Home Counties.
The split will take effect from an as yet unspecified date in June.
The move is a bid to sharpen the company's image. The firm's London agents have been increasingly outspoken in recent months, claiming the old' agency's semi-rural image has held back the firm's potential success within the capital.
Robert Bartlett, CEO of Chesterton Global, says the two brands will focus entirely on their own markets. The two companies will share some central services at the Mayfair headquarters of what is, for the moment, Chesterton Humberts.
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Comments
Great decision for Chestertons, it is like divorcing your over spending wife who doesn't bring in any money. Love the new brand for Chestertons, excellent. Humberts is different, modern but unfortunately the name will be remembered going out of business.
The sad fact is that these were two very different companies, with very different ethos let alone business models and fee structures. Attempts were made to establish a strong identity but they have not got the resources of Savills or Knight Frank to spend on national advertising
GREAT NEWS FOR THE LONDON BRANCHES. DEVISTATING FOR THEIR COUNTRY COUSINS LEFT IN HUMBERTS.
Going bust AGAIN! Splitting out the profitable offices in a last ditch effort.....
It could be called Humbert, Flint, Rawlence & Squarey, for those of you with long memories
Interesting. Doubled their 'one company = one member = one vote' vote for Agents Mutual
It could be called Humbert Flint Rawlence & Squarey - for those with long memories