Foxtons, the expensive London agent, has posted profits for 2011 of £35million.
With 37 branches in the capital, that’s almost £1m per branch office.
As a consequence of their robust results, the Mini driving estate agency has unveiled plans to treble the number of High Street outlets to 100 having already identified locations for expansion.
Whilst many agencies are closing branches elsewhere in the UK as often reported within this blog, the London property scene is a different market altogether and continues to defy the rest of the country. Hence the healthy financial performance.
Foxtons’ typical selling fees are 2% of sale price plus vat. eMoov recently saved one particular London seller over £70,000 in fees compared to the quote he received from the Foxtons branch at Hampstead.
Why wouldn’t you?