A shareholder of Foxtons believes the agency could be worth £300m if sold today – substantially above its existing market capitalisation but still far short of its heyday a decade ago.
One of the possible buyers would be rival London agency giant, Dexters; another would be Platinum Equity, the US owner of the Leaders Romans Group.
In an article over the weekend in the Sunday Times, Michael Rapps – managing partner at Converium Capital, which owns six per cent of Foxtons, says: “They’\ve cleaned up all the mistake of the past and are in a good position”.