Earlier this year the company confirmed that it has in talks with potential buyers for its commercial and residential businesses, at least one of which is understood to be a management buyout proposal. But as property heads into a downturn the negotiations appear to be taking longer.
In his AGM statement Brooks said: "The company has experienced a weakening in its commercial agency function in London, although our valuation and advisory functions continue to perform well. Residential sales have started the financial year well, whilst our lettings activity has seen a fall off in demand, in line with the market. Management Services is trading broadly in line with our expectations."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.