TEDDINGTON ESTATE AGENTS GOES INTO ADMINISTRATION
The local estate agent Featherstone Leigh has gone into administration, Teddington Town can exclusively reveal.
Today, the High Street office in Teddington was in darkness and closed although properties for sale and rent were still on display in the windows.
The Teddington office opened 20 years ago and has experienced a massive increase in business with many properties on the market for over £2m and Teddington has grown in popularity since Richmond Borough was voted as the best place to live in London.
It is understood that the long-established company which serves Teddington, Kingston, East Sheen, Twickenham and Richmond will operate from a new central ‘hub’ type set-up in Richmond.
Several redundancies have already been made but it is hoped the Featherstone Leigh brand will continue with a possible purchase of the existing business by founder director Brendan Wynne and ex-lettings director Fraser Allen with new investors and partnerships and to retain as many jobs as possible.
The company’s website says of Teddington: “Located between Kingston and Richmond along the banks of the River Thames, Teddington is the perfect location for those who want a blend of both country and city life.
“Property for sale in Teddington is always in incredibly high demand with estate agents in Teddington offering houses and flats taking the form of anything from bustling and vibrant waterfront developments to leafy, suburban family homes.”
As well as a challenging and increasingly competitive market the company has seen its profits hit by increased operating costs for office rates, staff salaries and other overheads.
Teddington Town understands a formal announcement with more details about future plans will be made early next week.
Featherstone Leigh was founded in 1993 by Robert Elliott Leigh and has established itself as a significant business in south west London with 12 offices and employing between 50 and 200 people.
