Jump to content

Recommended Posts

  • 2 weeks later...

???? Wrote:

-------------------------------------------------------

> I think the heads of the employees are also pretty

> empty


What has everyone got against Foxtons? What gets me is why they have satalite tv on 24/7?


I think a shop that size would make a good Mcdonalds wouldn't you agree? Food for thought.

You really have it in for Foxtons macroban. Why so much interest? is it purely estate agent driven?


Anyway - I'm sure you have alerted us to Foxtons having breached its covenants before. Its by no means the end for a business, just a renegotiation of their debt facilities, although it makes it more difficult to survive.


They have recently sold a house on our road and very quickly at that (I did think it was undervalued even in the current market) - also it seems they have more activity in their office recently, so I'm not sure what to think about their future.

  • 2 weeks later...
  • 3 weeks later...
  • 2 months later...
  • 5 months later...

A new chapter in Foxton's history - from City AM this morning:


Estate agent Foxtons was taken over by its lenders yesterday, after its private equity owner agreed to a refinancing deal that saw its stake in the firm massively diluted.


BC Partners bought the chain that was synonymous with the London property boom for around ?360m in 2007 from founder Jon Hunt, who offloaded the business at the top of the market.


But yesterday the private equity house handed lenders led by Bank of America and Mizuho a majority stake in the business. BC Partners will retain the largest minority stake and has pumped less than ?50m of new equity into the estate agents.


Under the deal, Foxton's debt has been cut from ?300m to ?120m. Most of the debt was from ?260m of bank loans to fund BC Partners' buyout.

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Latest Discussions

    • Per Cllr McAsh, as quoted above: “We are currently updating our Enforcement Policy and changes will allow for the issuing of civil penalties ranging from £175 to £300 for visible smoke emissions, replacing the previous reliance on criminal prosecution. " Is anyone au fait with the Clean Air Act 1993 and  Smoke Control law and practice?  I've just been looking  through it and, AFAICS, the "civil penalties ranging from £175 to £300" were introduced into the Clean Air Act, at Schedule 1A, in May 2022.  So it seems that it's a matter of the enforcement policy trailing well behind the legislation.  I'm not criticising that per se, but am curious.  
    • Here's the part of march46's linked-to Southwark News article pertaining to Southwark Council. "Southwark Council were also contacted for a response. "Councillor James McAsh, Cabinet Member for Clean Air, Streets & Waste said: “One of Southwark’s key priorities is to create a healthy environment for our residents. “To achieve this we closely monitor legislation and measures that influence air pollution – our entire borough apart from inland waterways is designated as a Smoke Control Area, and we also offer substantial provision for electric vehicles to promote alternative fuel travel options and our Streets for People strategy. “We as a council support the work of Mums for Lungs and recognise the health and environmental impacts of domestic solid fuel burning, particularly from wood-burning appliances. “We are currently updating our Enforcement Policy and changes will allow for the issuing of civil penalties ranging from £175 to £300 for visible smoke emissions, replacing the previous reliance on criminal prosecution.  “This work is being undertaken in collaboration with other London boroughs as part of the pan-London Wood Burning Project, which aims to harmonise enforcement approaches and share best practice across the capital.” ETA: And here's a post I made a few years ago, with tangential relevance.  https://www.eastdulwichforum.co.uk/topic/278140-early-morning-drone-flying/?do=findComment&comment=1493274  
    • The solicitor is also the Executor. Big mistake, but my Aunt was very old, and this was the Covid years and shortly after so impossible to intervene and get a couple of close relatives to do this.  She had no children so this is the nephews and nieces. He is a single practitioner, and most at his age would have long since retired - there is a question over his competence Two letters have already gone essentially complaining - batted off and 'amusingly' one put the blame on us. There are five on our side, all speaking to each other, and ideally would work as a single point of contact.  But he has said that this is not allowed - we've all given approval to act on each others behalf. There are five on her late husband's side, who have not engaged with us despite the suggestion to work as a team, There is one other, who get's the lion's share, the typicical 'friend', but we are long since challenging the will. I would like to put another complaint together that he has not used modern collective communication (I expect that he is incapable) which had seriously delayed the execution of the will.   I know many in their 80s very adept with smart phones so that is not an ageist comment. The house has deteriorated very badly, with cold, damp and a serious leak.  PM me if you want to see the dreadful condition that it is now in. I would also question why if the five of us are happy to work together why all of us need to confirm in writing.             The house was lived in until Feb 23, and has been allowed to get like this.
    • Isn’t a five yearly electricity safety certificate one of the things the landlord must give for a legal tenancy?
Home
Events
Sign In

Sign In



Or sign in with one of these services

Search
×
    Search In
×
×
  • Create New...