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TODAY'S OTHER NEWS

Connells buys online estate agency Hatched

Connells has acquired Hatched, one of the pioneers of the online estate agency model.

The acquisition is “aligned with Connells’ ambitious growth strategy to extend its presence in the UK property market” says a statement from the company. 

The acquisition has not been made by Sequence, as has been incorrectly reported on one property blog.

Connells says Hatched will “bring complementary capabilities including first-hand knowledge and experience of this developing sector” and  will “expand Connells into towns and cities not currently covered by its existing estate agency operation and will see Hatched become an integral part of the Connells network.”

Hatched will continue to trade under its existing brand with founder and managing director Adam Day remaining in charge of operations.

A statement from Connells chief executive David Livesey reads: "The acquisition of Hatched represents a natural progression towards further enhancing our online proposition and wholly complements our strategy to expand our high street footprint.  

“We are entirely committed to our branch network - evident through our recent acquisitions and our programme of 114 branch openings over the last 18 months - and I can confirm that this acquisition does not signal a shift away from traditional high street estate agency practices and values by Connells.  

“Indeed, we believe that this allows us to continue to innovate in the digital space and provide a unique combination to enable us to best service customer needs."

This latest deal comes one month after Connells Group announced the acquisition of Gascoigne Halman, continuing the group's acquisitions drive and taking the Connells Group’s high street network to 540 branches across the UK. 

Other recent acquisitions include Peter Alan, the largest estate agency in south Wales with a network of 26 branches, Adrian Cole & Partners, Cartwrights in Stafford, Harrisons in Lincoln, Platinum lettings in Crawley and a several other acquisitions of lettings books across the country.  

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    "I can confirm that this acquisition does not signal a shift away from traditional high street estate agency practices and values by Connells." Interested to know what it does signify, then?

    Countrywide 'doesn't' buy eMoov. Connells buys Hatched...interesting

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    Quite a bold move from Connells, have to say this is much more beneficial for Adam Day and Hatched than endless rounds of crowdfunding. Looking at listings - although we know these can be and are manipulated - it seems as though Hatched is no longer one of the biggest players in the online space these days - so maybe a more affordable option?

    Fake Agent

    I agree, John. A bold and unexpected move from Connells. Will be very interesting to see how this pans out.

    They seem to be at pains to insist that this purchase will not in any way impact their traditional branches, but it does seem a case of the lady doth protest too much. Why buy a reasonably successful online agency if you are totally dedicated to the traditional model? Very odd.

     
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