Rival agency opens new London office within hours of Foxtons’ closures

London estate agency JOHNS&CO, which specialises in new homes, has opened its seventh office in the capital - the announcement came a few hours after Foxtons revealed the closure of six of its London branches.

JOHNS&CO was set up in 2013 as a lettings and property management agency, specialising in new build developments. 

Now it offers new homes and second hand sales and has offices at West Hampstead, Nine Elms, Wapping, Canary Wharf, New Providence Wharf and Royal Wharf.  

The latest - London City Island - will specialise in new developments in the area.

“We have aggressive plans for growth in the next 24 months and we are looking for great people to join our team. We will always look to promote from within but as we grow, we are also looking for fresh and ambitious talent to join our team from negotiators to managers to property managers. We’d love to hear from people who are looking for a new challenges” says Clynton Nel, director at JOHNS&CO.

Meanwhile Foxtons’ share price slipped slightly yesterday to just above 50p after the agency revealed that it had closed six branches in recent weeks.

Chief executive Nic Budden said the company was operating in a "challenging market" and added: "We are managing the business for the current market conditions and remain confident in our long-term prospects."