Peter Rollings, chief executive of Marsh and Parsons, has confirmed that the London Estate Agency is to take bids for total control of the business. Indicative bids are due to be lodged by Friday July 15 (Yesterday) – of course we know our local M&P branch as they took over the Interlet agency, and were subsequently subject of a libel dispute with another local agent.
Rollings has been active in the real estate industry since 1982, he worked as managing director of Foxtons for eight years, and we all know what we think of Foxtons!
The sale is hoping to attract bids in the region of between £50m and £70m, which is around 10 times the original price paid for the business. Nice work Peter, and nice timing twice over thinking of what happened to Foxtons!
