The sale was agreed with Dubai-based Emaar Properties, which will continue to operate Hamptons International in the Middle East and North Africa, with Countrywide owning the rights to expand elsewhere.
Hamptons International has 80 branches in the UK and abroad and Countrywide said the acquisition forms a key part of Countrywide’s strategic plan to grab a slice of the prestigious high-end property market, following the recent purchase of the Sotheby’s International Realty franchise in the UK.
Grenville Turner, Countrywide group executive, said: “This acquisition is a major breakthrough for both companies – they are a perfect fit. We identified that Hamptons International offers a key growth opportunity and we recognise the quality of its brand, its people, its branch locations and international credentials.
“Countrywide has a proven track record of growing and investing in strong businesses, which speaks volumes in terms of what we can offer Hamptons International. This acquisition will extend our market coverage and support our plans to capitalise on the opportunities in the prestigious high-end property sector.”
Hamptons International will operate separately under its own brand and joins Countrywide’s network of 1,200 offices and 43 state agency brands.
Countrywide is the UK’s largest estate agency and property services group, employing more than 9,000 staff, and its extensive portfolio of property services includes estate agency, lettings, mortgage and insurance services, land and new homes, franchising, auctions, surveying, conveyancing and corporate property management services.
