Humberts sold to franchise owners

PropertyWire | January 28, 2020

Humberts sold to franchise owners
Historic estate agency group Humberts has been purchased by a consortium of franchise owners after falling into administration in December 2019. The firm has been purchased by Humberts Group Limited from insolvency practice Begbies Traynor. A scattergun approach to growing the company was blamed for its troubles. Humberts franchised at least one office, opened a prime central London branch – at odds with its reputation as a rural agency – and launched a new homes division. Tim Stephens MRICS, who operates the Norwich Humberts office, said: “We are delighted to conclude this deal and to take this long established and trusted brand into a very exciting future, particularly after the hedging of the Brexit negotiations and uncertainties for the economy prior to the election.

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Spotlight

Azizi Developments launches its latest project Azizi Aliyah in the heart of Dubai Health Care City.