Winkworth mulls multi-brand strategy

Winkworth will consider building a multi-brand network as part of its growth strategy.

Speaking exclusively to The Negotiator, Winkworth chief executive, Dominic Agace (pictured), says: “I’m not averse to looking at different ways of managing the brand. We’ve got the engine room to do it, so if it means running separate brands, we’ll do it, just as Countrywide does.”

But he adds: “I’m not talking about a corporate model or about expanding further in London.  We’re still young in the country, where, if there is any brand cross over, we can look at having separate entities, so we have different market champions.”

Winkworth raised £1.1m through its Initial Public Offering on the Alternative Investment Market in November to help fuel its growth. Agace says he has not yet drawn down on the funds, but is in the throes of discussions with a number of potential acquisition targets.

Meanwhile, Winkworth continues to roll out new branches, with Bath the latest addition to the network. Former Cluttons associate Simon Bush will work with office owner Simon Lord to establish the new office in the city.

The branch opening is one of eight that Winkworth has planned for this year, as revealed in its trading statement in January. The statement also revealed that the network expects to exceed its 2009 revenue targets as a result of stronger activity in the prime markets in the second half of last year.

Separately, Winkworth has introduced a £100 training fee, which it is charging franchisees in addition to their 8% royalty fee.

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