NEWSFLASH: LSL announces £20m investment into Savills-backed YOPA

LSL Property Services, parent company of Your Move, Reeds Rains and Marsh & Parsons,  this evening announced a £20m investment in an online hybrid estate agent, YOPA.

Also announced was a further £7.6m investment by Daily Mail and General Trust.

The so-called challenger estate agent has now received over £58m in funding since its launch in January 2016.

YOPA last year announced a £16m investment round led by Savills. In May this year, YOPA said it had raised another £15m in a round led by the Daily Mail, alongside new investment from Savills’ investment arm, Grosvenor Hill Ventures.

This evening’s statement says:

“During 2017 LSL has been exploring and evaluating options to capitalise on digital opportunities created by the growth in consumer acceptance of online and hybrid estate agency business models.

“LSL announces the acquisition of a minority stake in Yopa Property Limited (trading as “Yopa”). The management team is led by Daniel Attia who co-founded the business in 2014. Since then, under Daniel’s leadership the management team has successfully developed its consumer focused, technology-enabled business model, which was launched in hybrid form in January 2016.

“The business model includes market leading digital technology linking the activities of sellers and buyers with Yopa’s own local agents, who are supported by a dedicated customer service centre.

“The total consideration for the 17.3% equity investment is £20m payable in full at completion from LSL’s existing bank facilities. For the financial period ended 31st July 2015, being the 55 week period covered by the latest published accounts, Yopa reported a loss before tax of £1.0m and had gross assets of £0.3m.

“LSL and Yopa have agreed to collaborate together in a strategic partnership with the objective of creating value for both LSL and Yopa shareholders.

“Yopa will continue to operate independently, under its existing brand and management team.

“Ian Crabb, Group Chief Executive Officer of LSL, said:

We have been impressed by the Yopa management team, their business model and the technological capability which they have built. We are committed to working closely with the Yopa team through our strategic partnership to enhance their consumer offering and to leverage LSL’s know-how and services across the residential property value-chain. LSL aims to derive value from the strategic partnership through the potential to provide services to Yopa and to selectively leverage their know-how into the LSL Estate Agency business.

‘This investment provides LSL with a meaningful presence in the expanding online and hybrid markets and represents an attractive strategic shareholding for the LSL Group.’

“Daniel Attia, co-founder and CEO of Yopa, said:

“We are delighted to welcome LSL as an investor into the business. LSL has been evaluating a range of opportunities in the online and hybrid estate agency space, and their investment is a fantastic testament to the strength and potential of the Yopa business as well as the first-class team we have driving the business forward.

“The Yopa and LSL strategic partnership and investment will help further accelerate Yopa’s growth and cement our position as a leading player in this space.”



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  1. anon-mon73

    1st !

  2. dave_d

    Im surprised by the likes of LSL and Countrywide – it really does show that they have zero business acumen. Hybrid agency isn’t new, this has been coming for a long time and it seems that all of these corporate companies are now knee jerking into investing.

  3. Thomas Flowers

    Has YOPA now got enough money to buy out those post vote MIG shares in a certain portal ?Would that qualify as a ‘Corporate Event?’

  4. agentspark


    On what planet does £17m equate to 20% of a failing business who have already had all the money  and PR (see any given Telegraph) needed to be a success and failed to hold a candle to the other pay before you try offering?

    Why are traditional agents hell bent on propping up and saving failing online offerings?

    Are we digging our own graves?  Why won’t LSL, Countrywide and The Guild etc just focus on improving full service agency than investing in or replicating failing business models.

    1. SecretAgent

      Completely agree, and they are the ones who are going to suffer with their overheads. Purple bricks have already shown there is no return on investment, just a fancy stock market listing.

  5. proagent54

    This is what happens when senior execs do not have a clue about what is happening in their business. Panic buying just as Connell did with Hatched and Countrywide with their online deal. Waste of shareholders money LSL, why not speak to your staff, they will tell you how best to invest £20m

  6. cyberduck46

    20% of PurpleBricks is worth £250M. PurpleBricks look set to start making a healthy profit in the UK and they only have just over 3% market share of new listings. Plenty of the cake still out there and what PurpleBricks do is easily copied, you just need finance for marketing.


    Time to buy LSL shares?


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