It seems Strutt & Parker will soon have a new owner as French banking titan BNP Paribas is reportedly looking for buyers for the real estate agency, which boasts a workforce of over 500 individuals.
Sky News has reported that due to the flurry of deals and movements within the estate agency sector, BNP Paribas is intent on selling this particular portion of its portfolio.
Originally becoming part of BNP Paribas in 2017, Strutt & Parker’s commercial section was absorbed by the bank’s real estate wing, while its estate agency operations have continued under the well-known Strutt & Parker brand, which includes more than 50 offices around the UK.
This agency is notable for dealing in the more luxurious segment of the residential property market.
Earlier in the week, it was made public that the Lomond Group, birthed from the 2021 merger of Lomond Capital and Linley & Simpson, is also on the cusp of a sale, orchestrated by its owning entity, LDC.
Additionally, the spotlight is on Foxtons following indications it might be up for grabs, with the London-based estate agency even engaging the services of Rothschild’s banking experts as it braces for potential acquisition offers.
BNP Paribas’ spokesperson has conveyed to EYE that the company does not engage in speculation about market chatter.
