Countrywide confirms Hamptons deal as outright purchase

The deal between Countrywide and Hamptons International was an outright purchase, a Countrywide spokeswoman said yesterday – and is likely to be followed by more acquisitions this year.

Unlike the recent Sotheby’s Realtor deal, which was a long-term franchise arrangement, Countrywide now owns the 80 or so Hamptons branches in the UK and overseas. All 749 of the Hamptons staff in the UK will now be on the Countrywide payroll.

The spokeswoman said only a handful of Hamptons branches were still in the ownership of Emaar Properties, and these are overseas,  in Dubai, Oman and Morocco.

Hamptons was launched in 1869 and was bought by Bristol & West in 1991. It was then bought by Cluttons, before being sold to Wheelock Properties in 2005. Barely 15 months later, it was sold to Emaar Properties, responsible for the Burj Mahal in Dubai – the world’s tallest building.

In the UK, the Hamptons business consists of 23 London offices and 41 through the south. Activities include domestic and overseas sales, lettings, property management and mortgages.

Yesterday, the Countrywide spokeswoman said there were no plans for any branch closures or job losses, with the aim being to integrate the two businesses as soon as possible. She emphasised that Hamptons will continue to trade under its own brand – “just like our other 43 brands”.

The spokeswoman said that there could be more activity too come on the acquisitions front: "Don't be surprised if you hear something more by the end of this year," she said.