TOP ESTATE AGENTS BOUGHT OUT OF ADMINISTRATION
FEATHERSTONE LEIGH IS SAVED
The estate agent Featherstone Leigh, which had an office in Teddington’s High Street, has been bought out of administration and will continue to operate under the same name across south-west London, Teddington Town confirmed today.
The local community was shocked when one of the most long-established and and well-known names on the High Street announced it was going into administration two weeks ago and an immediate rescue-operation was launched to try to save the business.
The new company finally completed its purchase of Featherstone Leigh yesterday (thurs) and the new owners include long-standing employees of the company, founding director Brendan Wynne and Fraser Allen, who both started working with the estate agents in 2006. John Wright, a former solicitor and friend of Brendan, will also be involved in running the new business.
A spokesman for the new company said: “We are delighted to confirm that Featherstone Leigh will continue to provide its excellent sales services across the Richmond borough and beyond.”
The previous company offloaded its letting business two years ago but the new company will relaunch a a new lettings department which will be headed up by Fraser Allen.
“Fraser left Featherstone Leigh when the lettings business was sold but is now very excited at the prospect of relaunching and rebuilding this important side of the business,” added the spokesperson.
Teddington Town understands that as part of the purchase from the administrator for an undisclosed figure, the deal includes the acquisition of the existing Featherstone Leigh name, which will continue to be used.
The new-look business will focus its day to day operation from its larger Richmond office with a ‘hub type’ operation which the revamped company hopes will put a ‘greater emphasis on service’ as well as being more effective across the south west area.
The company says it has managed to retain the majority of staff although the Teddington team is amongst the ‘small number of redundancies due to the restructure of the business.”