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| Countrywide plc |
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Overview:
Countrywide is the UK's leading provider of integrated property services, employing around 8,000 personnel nationwide. Its UK network of local brands provides both corporate clients and home movers with a comprehensive range of property related solutions, delivered with valuable local expertise.
As the UK's largest estate agency, Countrywide is accessible to all UK home movers, with around 1,000 estate agency offices and 200 lettings offices operating under 41 local high street brands. Our financial services division includes the largest UK mortgage brokerage with more than 700 mortgage consultants. We also offer expert advice on life and general insurance along with access to quality financial products.
Countrywide's network of surveyors is the largest employed network in the UK with over 350 nationwide, including Scotland and Northern Ireland, and acts for most of the largest banks and building societies in the UK.
Countrywide's dedicated team of experienced lawyers provides clients with a broad range of first class conveyancing services. A supportive telephone team is conveniently available through extended working hours including evenings and weekends. 24 hour online case progress tracking provides access to information when it is convenient. We also believe in a transparent fee structure, charging just one flat fee with no hidden extra charges.
We have a wealth of experience in property management including residential lettings, leasehold, commercial properties and SIPPs. For those who wish to relocate, Countrywide's first rate professional and emergency and executive relocation experts, familiar with the local property market, will find the right accommodation.
Countrywide is the UK's largest regional auctioneer, holding nearly 50 property auctions across the country, from London to Glasgow.
Established in 1990, Countrywide's residential asset management business is the longest established in the sector. We are held in high regard by UK mortgage lenders, consistently appearing top of lender league tables. We provide a service for clients in a variety of market sectors including properties in possession, part exchange for house builders, probate services, corporate relocation, equity release lenders, official receivers, government agencies and residential maintenance.
Countrywide's Land & New Homes is amongst the country's top property consultants. With a network of offices throughout the UK and a proven track record of honesty and sound business skills, the company guides developers and home builders through their projects from conception to completion. |
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History:
Countrywide was born out of the merger of Bairstow Eves and Mann & Co, the first two UK Stock Exchange listed estate agency groups, following their acquisition by Hambros plc. The new company, known as Hambro Countrywide plc, went on to establish Hambro Assured in 1988, making it the UK's biggest life company start-up and the first life assurance business to be wholly owned by an estate agency group.
Growth has been mainly through acquisitions, including the creation of the largest residential surveying and valuation business in the UK when the Group acquired Nationwide Estate Agents and Nationwide Surveyors from Nationwide Building Society in 1994. Between 1995 and 2004, the Group added further outlets to its growing network of estate agencies, including Spencers from National & Provincial Building Society; London firms, Faron Sutaria, PKL and John D Wood & Co.; the estate agency businesses of Friends Provident and Bradford & Bingley; and estate agents, Freeman Forman. The Bradford & Bingley acquisition led to Countrywide developing the largest specialist sales unit for land and new homes purchases.
In 1998, the Group's major shareholder, Hambros plc, de-merged and the shares passed into the hands of a number of institutional investors. The name was changed to Countrywide Assured Group plc with the life assurance subsidiary renamed Countrywide Assured.
In 2002, the Group signed a long term distribution agreement with Friends Provident, whereby all ABI regulated life products would be sold through their financial services sales force. As such, Countrywide Assured was put into run-off and, in May 2004, changed its name to Chesnara plc. It was de-merged from the Group and floated on the London Stock Exchange as a separate entity.
In 2007, Countrywide plc was acquired by the private equity group Apollo Management L.P., thereby taking the Group out of public ownership. A Scheme of Arrangement was implemented in May 2009 which restructured the Group's debt and equity and left it in a strong financial position. Following this restructuring, the principal investors in the Group are Oaktree Capital Management L.P., Apollo Management L.P., Polygon Global Opportunities Master Fund and Alchemy Special Opportunities Fund. |
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