UK estate agent LSL is to close around 120 of its mid-market Your Move and Reeds Rain branches amid a stagnant property market. Some 40 offices will be closed, while another 81 will be folded into so-called "keystone branches" located in major markets. The company said it would also cut the number of agents working at each branch by about 10 per cent over the next two years. Another 40 branches will be given over to franchisees, reducing LSL's total number of Your Move and Reeds Rains branches to just 144.
UK estate agent LSL is to close around 120 of its mid-market Your Move and Reeds Rain branches amid a stagnant property market. Some 40 offices will be closed, while another 81 will be folded into so-called "keystone branches" located in major markets. Such branches will generally have larger lettings, residential sales and financial services teams. Another 40 branches will be given over to franchisees, reducing LSL's total number of Your Move and Reeds Rains branches to just 144.