Property  

Countrywide looks to sell consultancy business

Countrywide looks to sell consultancy business

Countrywide has confirmed it is considering selling its Lambert Smith Hampton business.

The company is the UK’s largest property services group and owns 55 brands, including its network Mortgage Intelligence.

Lambert Smith Hampton, a commercial property consultancy firm, was bought by Countrywide in 2013.

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Its owner has said it is now carrying out a strategic review into Lambert Smith Hampton.

A spokesman for Countrywide said: “As part of that review, Countrywide is considering a potential disposal of LSH.

“The process is ongoing and there can be no certainty that any transaction will proceed.

“Further announcements will be made as appropriate.”

Last month Countrywide, which is listed on the London Stock Exchange, posted revenues of £559m for the nine months ending in September, up on the same period in the previous year.

Over that period it also arranged 68,367 mortgages and had 68,554 residential lettings properties under management.

In October Countrywide published data which showed that 2017 could be the first year since the 1930s when more homes are let than sold.

It came as data from the Royal Institution of Chartered Surveyors showed the number of homes for sale was close to historic lows but demand was growing.

damian.fantato@ft.com