LSL Property Services
 | |
| Company type | Public limited company |
|---|---|
| LSE: LSL | |
| Industry | Residential property |
| Founded | 1980s |
| Headquarters | , United Kingdom |
Area served | United Kingdom |
Key people |
|
| Revenue |  £144.4 million (2023)[1] |
 £3.7 million (2023)[1] | |
| £(38.1) million (2023)[1] | |
| Website | lslps |
LSL Property Services operates the Your Move and Reeds Rains estate agencies as well as e.surv Chartered Surveyors. It forms the second-largest estate agent chain in the United Kingdom.[2]
History
[edit]The business was established by General Accident in the late 1980s. By 1989, GA Property Services, latterly trading as General Accident Property Services (GAPS), owned 69 estate agencies and in 1995, the surveying division of GAPS became a separate company – GA Valuation and Survey (GAVS). Following the merger between General Accident and Commercial Union to create CGU plc in 1998, GAPS rebranded to Your Move and GAVS rebranded to e.surv Chartered Surveyors in November 1999.[3]
Following the merger of CGU plc with Norwich Union to form Aviva in 2000, Your Move and e.surv Chartered Surveyors were declared non-core to the insurance business and were the subject of a management buyout, backed by Equistone, under a new company, Lending Solutions Limited, in July 2004.[4]
The company acquired Reeds Rains in 2005,[5][6] and became a publicly listed company on the London Stock Exchange in 2006.[7]
In October 2006, the company underwent a rebranding exercise, changing its name from "Lending Solutions Limited" to "LSL Property Services."[8]
The company went on to acquire Halifax Estate Agencies Limited ('HEAL') from Lloyds Banking Group for a nominal consideration of £1 in October 2009. HEAL's 218 branches, which had been built up by Halifax Building Society in the 1980s, were rebranded to other LSL brands in 2010.[9]
In January 2023, the company sold Marsh & Parsons, a premium brand estate agency operating in Central, North West, West and South West London, to a competitor, Dexters, for approximately £29 million.[10][11]
Operations
[edit]The company currently operates about 183 branches across the United Kingdom,[12] including some in a franchise format.[13]
Senior management
[edit]Simon Embley served as chief executive officer from 2004.[14] He was succeeded by Ian Crabb in 2014 and then by David Stewart in 2020.[15]
References
[edit]- ^ a b c "Annual Results 2023". LSL Property Services. Retrieved 26 April 2024.
- ^ "Top 10 estate agencies". FT.com - The Financial Times. Retrieved 2008-07-15.
- ^ "About Your Move". your-move.co.uk. Retrieved 19 December 2012.
- ^ "LSL Property Services". Equistone. Retrieved 6 February 2024.
- ^ "Your Move bosses make small fortune". ft.com - The Financial Times. 2005.
- ^ "Former LSL boss sinks "significant investment" into PropTech firm". Estate Agent Today. 6 February 2019. Retrieved 6 February 2024.
- ^ "BPE sells remaining shares in LSL". Unquote. 30 November 2010. Retrieved 6 February 2024.
- ^ "LSL Property Services". Companies House. Retrieved 6 February 2024.
- ^ "York's LSL Property Services plc has agreed to buy the 218 office Halifax estate agency business from Lloyds Banking Group". The Press. Retrieved 6 February 2024.
- ^ Da Silva, Marc (2023-01-26). "EYE NEWSFLASH: Dexters acquires Marsh & Parsons from LSL". Property Industry Eye. Property Industry Eye. Retrieved 2023-02-05.
- ^ Hall, Robyn (2023-01-26). "Dexters snaps up Marsh & Parsons for £29million". The Negotiator. The Negotiator. Retrieved 2023-02-05.
- ^ "LSL Property Services shakes up estate agency business with franchising model". Business Live. 18 May 2023. Retrieved 6 February 2024.
- ^ "Reeds Rains UK Franchise". whichfranchise.com. Archived from the original on 2008-05-17. Retrieved 2008-07-15.
- ^ "LSL PS Board of Directors, Simon Embley Group CEO". LSL Property Services plc. Retrieved 2012-12-17.
- ^ "New chief for LSL as Crabb steps down". Prime Residential. 1 May 2020. Retrieved 6 February 2024.
