Foxtons, Good News ....

PasturesNew

uh-ho... shouldn't have paid that much should you...
http://www.timesonline.co.uk/tol/money/property_and_mortgages/article5478477.ece

Disclaimer: it's only headlined by me as good news because so many people here seem to dislike them.... I'd never heard of them before I started coming here. They're a London thing.

hethmar

I wonder if they will be selling off those minis cheap?

Foxtons, the London estate agency whose fleet of liveried Minis were synonymous with the property boom, has breached its banking covenants and its UK private equity backer has ruled out a bailout of the business.

neverdespairgirl

PasturesNew wrote: »

Disclaimer: it's only headlined by me as good news because so many people here seem to dislike them.... I'd never heard of them before I started coming here. They're a London thing.

Rightly disliked. Slimey lots of shysters, in my opinion, and I'm not generally an EA hater or a hater at all.

torontoboy45

neverdespairgirl wrote: »

Rightly disliked. Slimey lots of shysters, in my opinion, and I'm not generally an EA hater or a hater at all.

correct. a friend in camden confirms that foxton's are well known by locals as wide-boy spivs; a reputation they share with their late 80's counterparts (and prob. the generation before).

In the early 90's calls were made for all Ea's to be specifically trained, examined, accredited and monitored. please correct me -anyone - if I'm wrong, but isn't it still the case that any clown can set out on the EA road by simply renting an office, buying a camera and donning a matalan suit?

GDB2222

It's interesting to look at the deal that was done originally:
£360m purchase price, made up of
£260m bank funding
£50m paid by the buyers
£50m on some sort of earn-out/loan from the vendor

So, the buyers put down 15%, and the rest was borrowed without recourse to the borrower.

Rach2007_2

Once went for a job interview with Foxtons.

The guy that interviewed me a complete slimeball, red braces wideboy. Seemed to think that they were untouchable. This was about 5 years ago.

What goes around comes around I guess.

BettiePage

hethmar wrote: »

I wonder if they will be selling off those minis cheap?

Foxtons, the London estate agency whose fleet of liveried Minis were synonymous with the property boom, has breached its banking covenants and its UK private equity backer has ruled out a bailout of the business.

http://forum.globalhousepricecrash.com/index.php?showtopic=46063

I wonder how much this one would fetch? :rotfl:

JonnyBravo

BettiePage wrote: »

http://forum.globalhousepricecrash.com/index.php?showtopic=46063

I wonder how much this one would fetch? :rotfl:

Reading that thread has confirmed why I don't visit HPC central.


"Is it just me or does the way 2 4 1 written on its side in that font look very much like it spells out

C * N T 1 "

Such insight from Cletus VanDamme.... you don't say Cletus :rolleyes:


and then....

"For the thick person inside me, why put 241 on a vehicle? whats the reasoning "

from Nick T


:rolleyes:


If these are the average on HPC let's hope they stay there. As "Nick" says.... they need to sharpen up somewhat.

baby_boomer

Still no sign of brach closure in the Putney Foxtons (the one with the prime location on the corner surrounded by 7 other EAs).

How prescient of them to install a bar and drinks dispenser to upgrade the branch.

It could save costs on the post-sale renovation of the premises when Wetherspoons snaps them up cheap .

BettiePage

JonnyBravo wrote: »

Reading that thread has confirmed why I don't visit HPC central.


"Is it just me or does the way 2 4 1 written on its side in that font look very much like it spells out

C * N T 1 "

Such insight from Cletus VanDamme.... you don't say Cletus :rolleyes:


and then....

"For the thick person inside me, why put 241 on a vehicle? whats the reasoning "

from Nick T


:rolleyes:


If these are the average on HPC let's hope they stay there. As "Nick" says.... they need to sharpen up somewhat.

JFTR its Ghpc not Hpc.

LadyIndecisive

I posted Foxtons as my choice on the 'Who do you want to go bust thread' yesterday.

Here is a true story. A friend visited me last year who lives in a very rural location in the North. As we passed Foxtons on Chiswick High Rd (a fine example) he commented 'that looks like a cool bar'! No word of a lie.

Without a car I was a 'captive' buyer being driven round by them; they used to take me to different flats to view than we had agreed to see. They told me I couldn't afford to buy in the development I wanted to, so I joined the residents Google group and bought one privately.