The UK based franchise estate agency M Winkworth Plc is set to open six new offices as a result of the recent upturn in the property market.
The company hopes to encourage more agents to take up a franchise with plans for the new spaces due to be completed by the end of June. These offices, some set to open in the south west, will add to the 58 existing Winkworth estate agencies based in central and greater London.Chief Executive Dominic Agace said five franchises have been signed up this year – two are already open and in full swing.
Today the firm reported a 31% increase in pre-tax profit with sales up by 14.1%, which surpassed its expectations given the current economic downturn. There are also reports of a strong start to the year with transactions up by 109% this quarter as compared to the same period in 2009.
Winkworth’s original head office was located in London’s Mayfair on Curzon Street in 1835 and sold residential properties. The company became the first ever UK franchised estate agency over 25 years ago and now franchising sits at the heart of the business in addition to residential lettings and property management services. The agency has also expanded to France and Portugal.