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Connells still silent on Agents' Mutual tribunal verdict appeal

Connells says it is still unable to comment on whether it will appeal against the Competition Appeals Tribunal verdict of last summer.

Before Christmas, the Court of Appeal Civil Division gave Connells’ agency Gascoigne Halman the right to appeal against the verdict of the CAT concerning Agents’ Mutual’s ‘one other portal only’ policy.

OnTheMarket, the portal owned by Agents’ Mutual, was the clear winner when the original CAT verdict was given back in July, following a lengthy case considering an alleged breach of contract by Gascoigne Halman, which operates 18 offices in the north of England.

When it was an independent agency, Gascoigne Halman subscribed to OnTheMarket but the agency was subsequently acquired by Connells Group, which advertised its properties on both Rightmove and Zoopla - thus breaking the controversial one other portal only rule.

Connells has this week told Estate Agent Today that it is still considering the appeal and in the absence of a decision is unable to comment further.

It is not known how, or if at all, the uncertainty over Connells’ next move is affecting the timing of the move by Agents’ Mutual to an Initial Public Offering, the next element of its float on the London stock market.

An announcement has been expected for some time regarding the naming of a likely share price, details of the sum to be raised from investors, and deadline for investing.

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