Century 21 has a new owner in the UK.
Shepherd Direct has acquired the licence to operate the Century 21 estate agency and lettings brand through the UK, Channel Island, Gibraltar and Isle of Man.
The price paid has not been disclosed, but Shepherd Direct said it was making a “significant seven-figure investment”.
The firm also said that the acquisition was part of its strategy to become a major force in the property sector.
Century 21 UK’s new home is as part of a portfolio of companies specialising in valuations, surveying and mortgage broking, plus an existing lettings business, Direct Lettings.
The brands include Sesame Bankhall Valuation Services, Direct Valuations, Shepherd Chartered Surveyors, and moneyQuest Mortgage Brokers.
Century 21 was started in America and claims to be the world’s largest residential estate agency organisation, with over 7,000 franchise offices, and 100,000 agents operating in 73 countries worldwide.
The current Century 21 UK operation is headquartered in Scotland, with offices covering the country, including London.
Shepherd Direct plans to expand the operation with dozens more franchisees throughout the UK, with central services in Chilwell, Nottingham.
The Century 21 UK operation will immediately work hand in hand with their mortgage broking and lettings support businesses.
Shepherd Direct has previous experience of franchising, having launched and grown Mortgageforce to become the largest business of its kind in the UK, resulting in a multi-million pound acquisition by West Brom in 2005.
The Century 21 UK management team will now report to Rob Clifford as chief executive.
Clifford said: “We are delighted to have completed this transaction and to be able to get on with our exciting growth plans backed by the world’s largest real estate brand.
“Having innovated by pioneering mortgage franchising in the UK and appointing over 150 franchised outlets, my team and I can’t wait to replicate that success with Century 21, but this time we have even bolder ambitions.”
The former managing director of Century 21 United Kingdom, the trading name of Maurice MacNeill Iona Ltd, was Stuart White.
Comments
here here previous comment...stuart white is a crook and well he knows it...people should stay well clear
Stuart White a well known crook sold his pathetic little franchise. Whoaha!!! Good luck to the suckers who buy into this franchise.