Property118 Open-Minded To Corporate Merger OpportunitiesMake Text Bigger
Whilst Neil and I have no intention of retiring we do feel Property118 would be better served moving forwards under a larger corporate umbrella.
There can be no mistake that growth of our online community has been exceptional. Already this year we have attracted more than 3,000,000 unique users to the website.
It’s probably safe to say that our position as “champions of landlords” was secured when our legal action against The West Brom resulted in over £27,500,000 of overcharged tracker mortgage interest payments being refunded.
So what might the perfect deal look like for Property118?
The recent acquisition of EweMove by Martin & Co. really set off this train of thought. The EweMove management team are staying in place but have received a payout comprising cash, AIM’s listed shares and further shares based on future performance. The advantage to the business and its clients is the available resource due to being part of a much larger group. Ideally, such a group would also be providers of products and services to buy-to-let landlords, for example; letting agency, mortgage lender, insurance, tax advice, law etc.
Property118 also owns a 26% stake in LettingSupermarket.com which must also be considered. That business is also going from strength to strength and has successfully completed two crowdfunding campaigns to finance its growth. The MD of Lettingsupermarket.com also shares our thoughts on how being part of a larger corporate structure could be beneficial moving forwards.
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