LSL Property Services
{{Infobox company
| name = LSL Property Services plc
| logo = LSL Property Services logo.png
| type = Public limited company
| traded_as = {{lse|LSL}}
| industry = Residential property
| fate =
| predecessor =
| successor =
| founded = 1980s
| founder =
| defunct =
| hq_location_city = Newcastle upon Tyne
| hq_location_country = United Kingdom
| area_served = United Kingdom
| key_people = {{ubl|Adrian Collins (Non Executive Chair)|Adam Castleton (Chief Executive Officer)}}
| products =
| owner =
| revenue = {{increase}} £173.2 million (2024){{cite web |url=https://www.lslps.co.uk/uploads/media_file/Annual%20report%202024.pdf|title=Annual Results 2024|publisher=LSL Property Services|access-date=27 March 2025}}
| operating_income = {{increase}} £21.9 million (2024)
| net_income = {{increase}} £17.4 million (2024)
| num_employees =
| num_employees_year =
| parent =
| website = {{URL|lslps.co.uk}}
}}
LSL Property Services operates the Your Move and Reeds Rains estate agencies as well as e.surv Chartered Surveyors. It forms the second-largest estate agent chain in the United Kingdom.{{cite web|url=http://www.ft.com/cms/s/0/4f14c32c-d654-11da-8b3a-0000779e2340.html|title=Top 10 estate agencies|publisher=FT.com - The Financial Times|access-date=2008-07-15}}
History
The business was established by General Accident in the late 1980s. By 1989, GA Property Services, latterly trading as General Accident Property Services (GAPS), owned 69 estate agencies and in 1995, the surveying division of GAPS became a separate company – GA Valuation and Survey (GAVS). Following the merger between General Accident and Commercial Union to create CGU plc in 1998, GAPS rebranded to Your Move and GAVS rebranded to e.surv Chartered Surveyors in November 1999.{{cite web|url=http://www.your-move.co.uk/about-us/company|title=About Your Move|publisher=your-move.co.uk|access-date=19 December 2012}}
Following the merger of CGU plc with Norwich Union to form Aviva in 2000, Your Move and e.surv Chartered Surveyors were declared non-core to the insurance business and were the subject of a management buyout, backed by Equistone, under a new company, Lending Solutions Limited, in July 2004.{{cite web|url=https://www.equistonepe.com/investmentdetail/lsl-property-services/131?list=1|title=LSL Property Services|publisher=Equistone|access-date=6 February 2024}}
The company acquired Reeds Rains in 2005,{{cite web|url=http://www.ft.com/cms/s/0/63db4c0a-75e0-11db-aea1-0000779e2340.html?nclick_check=1|title=Your Move bosses make small fortune|publisher=ft.com - The Financial Times|year=2005}}{{cite news|url=https://www.estateagenttoday.co.uk/breaking-news/2019/2/former-lsl-boss-sinks-significant-investment-into-proptech-firm?source=othernews|title=Former LSL boss sinks "significant investment" into PropTech firm|date=6 February 2019|newspaper=Estate Agent Today|access-date=6 February 2024}} and became a publicly listed company on the London Stock Exchange in 2006.{{cite web|url=https://www.unquote.com/uk/news/75142/bpe-sells-remaining-shares-in-lsl|title=BPE sells remaining shares in LSL|date=30 November 2010|publisher=Unquote| access-date=6 February 2024}}
In October 2006, the company underwent a rebranding exercise, changing its name from "Lending Solutions Limited" to "LSL Property Services."{{cite web|url=https://find-and-update.company-information.service.gov.uk/company/05114014|title= LSL Property Services|publisher=Companies House| access-date=6 February 2024}}
The company went on to acquire Halifax Estate Agencies Limited ('HEAL') from Lloyds Banking Group for a nominal consideration of £1 in October 2009. HEAL's 218 branches, which had been built up by Halifax Building Society in the 1980s, were rebranded to other LSL brands in 2010.{{cite news|title=York’s LSL Property Services plc has agreed to buy the 218 office Halifax estate agency business from Lloyds Banking Group|newspaper= The Press|url=http://www.yorkpress.co.uk/business/news/4688434.York___s_LSL_Property_Services_plc_has_agreed_to_buy_the_218_office_Halifax_estate_agency_business_from_Lloyds_Banking_Grou/?ref=arc|access-date=6 February 2024}}
In January 2023, the company sold Marsh & Parsons, a premium brand estate agency operating in Central, North West, West and South West London, to a competitor, Dexters, for approximately £29 million.{{cite news |last=Da Silva |first=Marc |url=https://propertyindustryeye.com/eye-newsflash-dexters-acquires-marsh-parsons-from-lsl/ |title=EYE NEWSFLASH: Dexters acquires Marsh & Parsons from LSL |work=Property Industry Eye |publisher=Property Industry Eye |date=2023-01-26 |access-date=2023-02-05 }}{{cite news |last=Hall |first=Robyn |url=https://thenegotiator.co.uk/dexters-snaps-up-marsh-parsons-for-29-million/ |title=Dexters snaps up Marsh & Parsons for £29million |work=The Negotiator |publisher=The Negotiator |date=2023-01-26 |access-date=2023-02-05 }}
Operations
The company currently operates about 183 branches across the United Kingdom,{{cite web|url=https://www.business-live.co.uk/enterprise/lsl-property-services-shakes-up-26840969|title=LSL Property Services shakes up estate agency business with franchising model|date=18 May 2023|newspaper=Business Live|access-date=6 February 2024}} including some in a franchise format.{{cite web|url=http://www.whichfranchise.com/franchisorPage.cfm?CompanyID=2599|title=Reeds Rains UK Franchise|publisher=whichfranchise.com|access-date=2008-07-15|archive-url=https://web.archive.org/web/20080517055855/http://www.whichfranchise.com/franchisorPage.cfm?companyId=2599|archive-date=2008-05-17|url-status=dead}}
Senior management
Simon Embley served as chief executive officer from 2004.{{cite web|url=http://www.lslps.co.uk/investor-relations/board-of-directors|title=LSL PS Board of Directors, Simon Embley Group CEO |publisher = LSL Property Services plc|access-date=2012-12-17}} He was succeeded by Ian Crabb in 2014 and then by David Stewart in 2020.{{cite web|url=https://primeresi.com/new-chief-for-lsl-as-crabb-steps-down/|title=New chief for LSL as Crabb steps down|date=1 May 2020|newspaper=Prime Residential|access-date=6 February 2024}} Adam Castleton, previously Group Chief Financial Officer, replaced David Stewart as Group CEO on 1 May 2025.{{cite news|url=https://www.mortgagesolutions.co.uk/news/2025/01/30/lsl-property-services-appoints-castleton-as-ceo-designate-and-reports-resilient-2024-results/|title=LSL Property Services appoints Castleton as CEO designate and reports 'resilient' 2024 results|newspaper=Mortgage Solutions|date=30 January 2025|access-date=30 April 2025}}
References
{{reflist}}
External links
- [http://www.lslps.co.uk Company website]
{{Real estate in the United Kingdom}}
Category:Companies based in Newcastle upon Tyne