Nu:move, a hybrid online estate agency has been put up for sale by its owners.
According to the company’s owners, brothers Karen and Arun Batth, the firm is being sold to allow them to focus on its sister business, property investment sourcing provider nu:1 Capital.
Nu:move, founded in 2013, was valued at £2m when the company listed on fundraising platform Seedrs last year. The agency raised £750,000 to fund the expansion of its franchise network.
The company, operating via a franchise network, has 20 regional representatives across its network, through which it has marketed around 10,000 properties for sale and to let.
Franchises with the firm cost from £4,000 to £10,000, depending on the size of their individual network.
Training, admin, systems and support from the wider group are then charged at £215 per month. The company offers both sales and lettings services and charges from £699 (excl. VAT) to £1,395 (excl. VAT) to market homes for sale.
In its most recent available accounts at Companies House, for the year ending December 31 2020, nu:move had total net assets worth £2.23 million.
Comments (4)
Top entry on a quick Google search –
“nu:Move – No 1 Online Estate Agents”.
Well – there’s little doubt they will be ‘No 1’…
…for something or other.
More of a number 2
Karen?
Another one bites the dust. On any given day, isn’t it interesting that one article talks about a bedroom business that has burned through its investment cash and can’t make any money? It is now up for sale and looking for another sucker to invest in it.
In another article on the same day, a group of bedroomers think they have discovered the next best thing and they celebrate their “success” by firing out egotistical press releases. They remind me of lemmings, racing for a business cliff edge as fast as their little legs will carry them.