Winkworth has revealed that its franchisees will open at least four new offices during the second half of this year.

The announcement was made during the firm’s AGM yesterday, which also revealed that company performance and earnings during the first quarter of 2023 was in line with management expectations, supported largely by growth in letting income reflecting the strong performing rentals market. 

At the AGM, Dominic Agace, CEO of Winkworth, commented: “The first quarter of 2023 was in line with management expectations, with a greater weighting towards letting income as the much commented on rentals market continued to power ahead. While interest rates are likely to peak at a higher level than previously anticipated, we believe that we are now nearing the top of the tightening cycle and would expect the sales market to perform satisfactorily for the year as a whole.

“With four new franchises scheduled to open in the second half, as well as some resales of franchises to new operators, we are well positioned for when confidence returns and transactions improve.”

Winkworth recently announced that it is expanding its operations to focus on land and new homes opportunities across London – with plans for a roll-out across the regions to reflect the franchise network’s spread of over 100 offices nationwide. 

Charles Jordan, an experienced new homes agent, joined the business in March as part of the growth of the development and commercial investments division led by Adam Stackhouse. 

As head of new homes, Jordan, who worked with Fraser & Co handling new developments, is currently leading a team from Winkworth’s HQ in London’s St James’s. The new homes team offers strategic advice and support to developers, backed by a full sales service for buyers searching for a home or an investment property, from purchasing off-plan to completion. 

Reflecting on the expansion, Agace said: The ambition is to establish a London presence across our 60 London offices, followed by regional hubs across the Winkworth network to provide nationwide coverage. 

“There are huge opportunities to work with Winkworth franchisees, leveraging their strategic locations, hyper-local experience and knowledge established over 40 years, to extend Winkworth’s reach and offering in a rapidly changing residential market.”