York estate agency targeted for takeover – in a deal that could net MP millions

Hunters Property HQ on Eboracum Way in York. Photograph © Google Street View
7 Dec 2020 @ 5.32 pm
| Business

A York estate agency is the target of a takeover deal – and if it goes through, its MP chairman could net millions.

Hunters Property has revealed that The Property Franchise Group (TPFG) wants to buy it.

Hunters has issued a statement which said: “The approach is preliminary, and the terms remain subject to ongoing discussion and to due diligence by both Hunters and TPFG. 

“Accordingly, there can be no certainty that an offer will be made nor as to the terms of any offer, if made.

“A further announcement will be made when appropriate.”

One of Britain’s biggest

Hunters chairman and Conservative MP Kevin Hollinrake

The share price today (Monday) stood at 60p, valuing Hunters Property at £22.4 million.

The business was co-founded in 1992 by Kevin Hollinrake, the Conservative MP for Thirsk and Malton.

He owns 13.28% of the business, which would see him net £2m or more through a sale of the business.

Hunters is one of the largest franchised sales and lettings estate agency businesses in the UK, with more than 206 branches.

Its HQ is Apollo House on Eboracum Way in York.