Strutt and Parker looks set to be sold after it was revealed a short while ago that the French banking giant BNP Paribas has begun sounding out purchasers for the chain, which employs more than 500 people.
According to Sky News, the French banking giant wants to offload the estate agency chain amid a surge of corporate activity in the estate agency sector.
Strutt & Parker was acquired by BNP Paribas in 2017, with its commercial arm merged into the French lender’s real estate division.
The estate agency business has continued to operate under its own brand’s 50-plus branch business across the UK.
It specialises in homes at the premium end of the housing market.
It has been revealed earlier this week that Lomond Group, which was created from the merger of Lomond Capital and Linley & Simpson in 2021, is being prepared to be sold off by owner LDC.
Investors are also taking an interest in Foxtons after it emerged recently that the London-listed estate agency could be put up for sale.
Foxtons recently added bankers at Rothschild as financial advisers in anticipation of a bid.
A spokesperson for the French bank told EYE that BNP Paribas Real Estate does not comment on market rumour.
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