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.