Michael Stoop has retired from his position as group managing director at what was formerly Martin & Co and is now The Property Franchise Group.
He had held the position for less than two years and is not being replaced. Despite his retirement, he has set up a new business.
However, Stoop will continue as a consultant for the group until June 2017.
He remains vice-chairman of The Property Ombudsman, and now lists on his Linked In profile that, as from this month, he is director of Michael Stoop Property Services.
He formerly headed up Xperience, the estate agency franchising arm of Legal & General, for over 22 years.
Xperience was sold to Martin & Co in October 2014 in a £6m deal, and Stoop stayed with the business, becoming group managing director of the newly enlarged business.
Ian Wilson, chief executive of Martin & Co which had only recently started to diversify into sales, said of Stoop at the time: “Michael has excellent connections and has heavyweight expertise in sales which we – as traditional letting specialists – do not have.” He said this would be invaluable to the 150 or so businesses in the Martin & Co network which at that time had expanded into sales.
Xperience was sold to Martin & Co with 89 offices, owned by 75 franchisees, and brands Ellis & Co, Whitegates, Parkers and CJ Hole.
Last October, Martin & Co rebranded to The Property Franchise Group, reflecting its ownership of more than one brand. Today The Property Franchise Group has five brands, including Martin & Co and the four Xperience names, and has 287 offices throughout the UK, of which 190 are Martin & Co.
Industry veteran Stoop, who has also been managing director at Winkworth, said in a company statement yesterday: “I am very fortunate to have supported the integration of the Xperience brands alongside the Martin & Co business, which now positions the group as one of the largest and most successful estate agency and lettings groups in the UK, with almost 300 offices and turnover at the franchisee level of £73m.
“The group is now very well positioned for further growth and I am delighted to continue to work as a consultant with the group until next June and immersing myself in my role as vice-chairman at The Property Ombudsman.”
The company statement does not quote anyone other than Stoop, who was awarded the accolade of a fellowship of the RICS in 2013.
Comments (9)
Micheal is one of the industry’s good guys and I am sure he will be missed by many. Good luck mate. As for Wahley’s comment my head and liver feel sympathy for anyone who has lasted a night with him, it should be promoted to an Olympic sport with medals for anyone making work the following day.
‘…from this month, he is director of Michael Stoop Property Services.’
Hmmm… maybe he’s taken on an ‘Expert’ role and needs to be self-employed…
Seriously, though – good luck with your new venture to the chap. It’s nice to see nothing but positive comments about someone.
I have known Mike since he foolishly appointed me to manage his Winkworth office in Fulham in 1985 and have regularly worked as a consultant/trainer to his many happy franchisees over the past 15 years. I know of no other franchisor or senior property employer who is as liked and respected as much as Mike. Mike has the rare ability to retain gravitas and influence with those under/alongside him whilst always remaining a man of the people, connecting with their concerns as much as their hopes and peppering their day with his irreverent humour which always somehow also pointed to a solution. I know he will be sorely missed by former Xperience and MartinCo people across the UK.
Its been a real pleasure working with Michael since he joined The Property Franchise Group, he has certainly been a very positive influence and will be missed.
He would be sorely missed by the industry. One of the good guys. But is he really retiring or just moving on?
A scholar and a gent. Will be missed and wish you all the best for your retirement Michael.
Always called it as it is. Not least the last time we bumped into each other in a hotel bar “Oh god not you I’ve got to work tomorrow!”
Now that sounds like it turned into a very fun evening!
A safe pair of hands who will certainly be missed at PFG. Good luck Michael with your future plans !