A 250-year-old pub in Elephant and Castle looks set to become Foxtons’ latest branch.
The pub, named The Elephant & Castle, closed earlier this year after a stabbing incident and Foxtons has since applied to change its use.
Southwark council received Foxtons’ application on April 17 and if the site is not awarded Asset of Community Value status by mid -June, the agency will not need to gain planning permission to change its use.
The application is currently listed on the Southwark Council website and as yet has received no comments against it.
“We’re really excited at the prospect of opening an office right in the heart of Elephant & Castle. We’ve been operating in the area for years now from our nearby London Bridge office and in the last year alone we’ve dealt with hundreds of properties and people there,” a spokesperson for Foxtons told Estate Agent Today.
“As always with our new offices we’ll be on the lookout for great local talent to contribute to their success,” they added.
Housing campaigner Piers Corbyn told the Evening Standard: "It's a historic landmark and turning it into an estate agent is just an expression of the disgraceful events taking place in Southwark.”
He added that Foxtons’ move is a ‘provocation’ to anyone concerned about the heritage of Elephant and Castle.
This latest move is part of Foxtons’ ‘branch opening programme’ which is being managed by commercial agent Montagu Evans.
Montagu Evans is advising Foxtons on the acquisition of the sites it seeks which it says often contain listed buildings or have conservation area status.
Earlier this week Westminster Council ordered another estate agency, Champion Estates, to stop operating out of a pub in St. John’s Wood within 28 days.
The Star was awarded Asset of Community Value status in February, meaning that the building can only be used as a public house.
Despite this, Champion Estates has been working out of the building since March and its owner says he has no intention of leaving.
Foxtons has also been in the mainstream media this week after the Guardian reported that the agency had been given a ‘sell’ recommendation due to a fall in shares.
The newspaper says that Foxtons is the biggest faller in the FTSE 250 with shares down 11.5p to 273p.
Market broker Peel Hunt’s sell recommendation was accompanied with a warning that it sees Foxtons’ sales commission rate of 2.4% likely to come under pressure from ‘lower priced competitors’.