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TODAY'S OTHER NEWS

easyProperty acquired by firm with backing of Stelios Haji-Ioannou

Online estate agency EasyProperty has been acquired by a firm with the backing of Sir Stelios Haji-Ioannou.

easyProperty has been sold by the eProp Services Group PLC, parent company of The Guild and Fine & Country, and has been acquired by industry supplier firm Evolve.

The deal will complete within the next 48 hours.

Evolve - an industry name since 2007 - provides services including  photography, floor plans, viewings, EPCs, inventories, check ins and check outs and, in Scotland, its mandatory Home Reports.

Evolve chief executive David Brierley says in a statement:“We are very excited about the acquisition and see it as a huge opportunity for the industry to engage in something different.

“We are also extremely pleased to have the financial support of Sir Stelios Haji-Ioannou, founder of easyJet, as a significant shareholder and owner of the easy family of brands, who has a very personal interest in seeing the brand succeed.”

Brierley says Evolve’s strategy will centre around existing licensees region-by-region to consolidate easyProperty’s existing presence in some areas. 

“We believe in a local first strategy, where we will concentrate on each area and build that until it is covered in orange before moving on to the next area and then the next” says Brierley.

This means that Evolve will at first major on easyProperty’s presence in Wales and South Yorkshire.

Brierley adds: “We have selected these areas because there is already a strong easyProperty presence there and the licensees in these regions are particularly active. Once we have covered these areas in orange, we will set our sights on expanding the brand in other untapped areas.

“As a property centric business, we are excited about our involvement with easyProperty and look forward to what the future undoubtedly holds.”

  • Algarve  Investor

    Wow, what a merry-go-round of incompetence.

    Why would anyone touch easyProperty with a barge pole? It's a poisoned chalice, it's dead, it's pointless - it should just be killed now for the good of everyone. If the tie-up with the Guild and Fine & Country didn't revive it, this certainly won't.

    It's been around for a number of years now and has failed to become established, despite significant investment - from tacky PR stunts like the mock funeral for estate agents to millions spent on TV advert. People just don't know about it, like so many of the easy brands outside of easyJet and easyHotel.

    Sometimes diversification can go too far and you get people with no idea about property trying to make it in sectors they know nothing about. EasyJet could have been Purplebricks or Yopa, but they have single-handedly failed to gain any traction whatsoever in the 5 or so years since they were formed. Surely people can see that?

    Have you ever seen an easyProperty board on the street? Has anyone actually sold or let a home through the company? Baffling.

  • icon

    Another investor without a clue about property. Suggest that you stop using Evolve.

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