The Connells-owned online agency Hatched is to close with immediate effect. A statement from the company says:
“Online estate agency Hatched will be closing to all new business with immediate effect, Connells Group announces today. The decision underlines Connells Group’s belief that the ‘online-only’/hybrid business model is fundamentally flawed and affirms the Group’s absolute commitment to its high street estate agency operation. Connells Group will seek to retain and redeploy all Hatched employees elsewhere within its business.
Hatched was acquired by Connells Group in 2015 to be run as an entirely separate enterprise to its core high street estate agency business. Since then, it has received a programme of investment including new head office premises and the doubling of its team of staff. In the same period, Connells Group has grown organically through cold start branch openings and acquiring further established high street estate agency businesses – such as 16 branch Rook Matthews Sayer and five branch Paul Dubberley - to extend its, now nearly 600, branch network further. The Group has also been at the forefront of adapting to changing digital technologies and consumer needs, developing new propositions as highlighted by its lead role in Fixflo and mio.