New Century 21 UK owner sets sights on becoming an up…
The new owner of Century 21 UK, the British arm of the US-based franchising agency, has set his sights on rivalling Winkworth, Belvoir and Fine & Country.
Nicholas Faulkner, the owner of leasehold property management business Alexander Faulkner Partnership, purchased the Century 21 UK master franchise brand from SDL Group last month.
Speaking to Estate Agent Today this week, he said the transaction emerged as he knew the owners of SDL Group and they had decided that the brand wasn’t part of their core offering.
He said: “Our main competitors would be Winkworth, Belvoir and Fine & Country.
“I see it as quite upmarket.
“I wouldn’t dream of saying we can compete with Knight Frank or Savills but we could certainly compete in upmarket localities such as Cambridge, Exeter, Weybridge or Chesham.
“I’m thinking Cathedral cities. That should be the level of the brand.”
He said he is already in discussion with agents at other franchise or new entrants as he aims to grow from 34 branches currently to 100 in the next five years.
Faulkner said he also foresees referral opportunities with his property management business.
He added: “The value of the brand is its worldwide presence.
“Its UK brand hasn’t had the same penetration as it has globally, maybe it hasn’t had enough entrepreneurial drive behind it.
“I see lots of synergies for cross referral with my block and estate management business.
“We manage 25,000 units up and down the country, there no reason why we cannot introduce an office if any of those property owners want to sell or let.”
Globally, Century 21 is one of the world’s largest networks of estate agents, with around 10,500 offices and 125,000 sales professionals spanning 86 countries worldwide.