Connells Group Explained

Connells Limited
Type:Limited company
Key People:
Richard Twigg (Interim Chief Executive)
Industry:Real estate
Parent:Skipton Building Society
Foundation:1936 (Luton)
Location:Leighton Buzzard, Bedfordshire

Connells Limited,[1] trading as Connells Group,[2] is a British estate agency[3] and property services company headquartered in Leighton Buzzard, and a subsidiary of Skipton Building Society.

History

In 1936 the first Connells estate agency branch was opened in Luton, Bedfordshire.[4]

Connells acquired Sequence estate agency in 2003',[5] increasing its estate agency network to around 500 branches. In the same year, Connells acquired estate agency Sharman Quinney.[6]

In 2008 Connells Group sold its remaining 18% stake in Rightmove plc.[7]

In 2010 Skipton Building Society acquired nearly 100% of Connells Group. In the same year, Connells Group acquired a major shareholding in Vibrant Energy Matters.[8]

In 2011 Connells Group acquired a shareholding in the conveyancing and remortgaging panel management services provider LMS Group.[9] In the same year, Connells acquired independent estate agency Burchell Edwards including conveyancing firm Be Legal.[10]

In 2012 Connells acquired a 25% strategic stake in residential property fund manager, Hearthstone Investments plc.[11]

In 2014 Connells Group acquired the Peter Alan chain, which operates in south Wales, from the Principality Building Society for £16.4m.[12]

In 2015 Connells group acquired the Liverpool business of Farrell Heyworth an independent Estate Agent, based in the North West of England.[13]

In 2015 Connells Group acquired Gascoigne Halman estate agency, based in the North West of England.[14]

In 2015 Connells Group acquired Gilbert & Thomas, based in Rutland.[15]

In 2016 Connells Group acquired Rook Matthews Sayer estate agency, based in Newcastle upon Tyne.[16]

In 2016 Connells Group acquired Paul Dubberley, based in the West Midlands.[17]

In 2016 Connells Group acquired Touchstone Residential, operating in Kent, Buckinghamshire and the west country.[18]

In 2021, the group purchased Countrywide, with branches across the UK.[19]

Criticism

Connells Estate Agents have faced criticism on a number occasions of hard selling and pressuring clients to use the groups in-house mortgage services using tactics such as not allowing viewings or to place offers on properties before signing up to the in-house service.[20] [21] [22] [23] [24] [25]

In February 2016 Connells appeared on a list of 92 companies which had in at least one instance been found to have failed to pay the minimum wage to employees.[26] In April 2018 Connells Survey and Valuation business was named in the top 10 of UK companies with the highest gender pay gap.[27]

External links

Notes and References

  1. Web site: CONNELLS LIMITED overview - Find and update company information - GOV.UK . 2024-07-11 . find-and-update.company-information.service.gov.uk . en.
  2. Web site: CONNELLS GROUP LIMITED overview - Find and update company information - GOV.UK . 2024-07-11 . find-and-update.company-information.service.gov.uk . en.
  3. Web site: CONNELLS ESTATE AGENTS LIMITED overview - Find and update company information - GOV.UK . 2024-07-11 . find-and-update.company-information.service.gov.uk . en.
  4. Web site: Celebrating 80 years in estate agency!. The Negotiator. 16 April 2016. 1 March 2021.
  5. Web site: Connells buys Sequence – Mortgage Strategy. 22 October 2003. 27 July 2016.
  6. Web site: PROPERTY: Major stakehold sold to Connells. peterboroughtoday.co.uk. 27 July 2016.
  7. Web site: Bombshell as Connells sells Rightmove holding.... Estate Agent Today. 27 July 2016.
  8. Web site: Connells snap up national energy assessor firm.... Estate Agent Today. 27 July 2016.
  9. Web site: LMS strengthened by acquisition by leading estate agents – Today's Conveyancer. 17 July 2011. 27 July 2016.
  10. Web site: Connells snaps up 16-branch independent chain.... Estate Agent Today. 27 July 2016.
  11. Web site: Connells acquires stake in buy-to-let investment fund.... Letting Agent Today. 27 July 2016.
  12. Web site: Connells snaps up Peter Alan agency for £16.4m. 31 July 2014. 27 July 2016.
  13. Web site: Connells firm Sequence snaps up major city business. 20 May 2015. 27 July 2016.
  14. Web site: Connells acquires Gascoigne Halman. Ltd. Insider Media. 27 July 2016.
  15. Web site: Connells’ firm Sharman Quinney snaps up independent agent. Property Industry Eye. Renshaw. Rosalind. 1 Dec 2015.
  16. Web site: Rook Matthews Sayer acquired by Connells Group UNW. www.unw.co.uk. 27 July 2016. https://web.archive.org/web/20160809011519/http://www.unw.co.uk/unw-advises-rook-matthews-sayer-on-connells-group-deal/. 9 August 2016. dead.
  17. Web site: Connells acquires Paul Dubberley. The Negotiator. 18 May 2016.
  18. Web site: Another lettings acquisition for fast-growing Connells Group. Letting Agent Today. Norwood. Graham. 9 May 2016.
  19. Web site: Connells purchase of Countrywide officially completes. The Negotiator. Lewis. Nigel. 8 March 2021. 9 March 2021.
  20. Web site: Connells accused of hard-sell tactics to get buyers to use mortgage services. Rosalind. Renshaw. 13 March 2017. Property Industry Eye.
  21. Web site: Connells under fire for 'strong arm' mortgage tactics.... Estate Agent Today.
  22. Web site: Consumers pressured to use in-house mortgage staff by estate agents. 20 March 2018.
  23. Web site: The great mortgage fix: How estate agents are tricking buyers into spending more. Amy. Willis. 10 March 2017.
  24. Web site: Pair claim they lost chance to buy home after refusing mortgage service. Rosalind. Renshaw. 15 June 2015. Property Industry Eye.
  25. Web site: Dodgy estate agency practices put under spotlight in .... Estate Agent Today.
  26. Web site: Is your boss on the list? 92 employers named for denying workers minimum wage. Alan. Jones. Julia. Rampen. 5 February 2016. mirror.
  27. Web site: The worst gender pay gap offenders in each sector have been revealed. 9 April 2018. The Independent.

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