The ‘London Estate Agent’ Foxtons is mentioned in the Sunday Times this weekend as the 13th of 100 firms with the fastest growing profits of those backed by private equity.
Foxtons profits have grown from £9.9m in 2008 to £31.8m in 2010 assisted by the opening of nine further branch offices in that period and with, no doubt, an additional compliment of decalled minis and Perrier fridges too.
And those fridges are expensive because Foxtons typically have to charge property sellers 3% of sale price in return for taking photos and measurements and listing their homes on a selection of property websites.
Hmm. If only there were an alternative to such mammoth commissions, eh?