Hamptons International Mortgages has unveiled plans to launch into the South-East Asian expatriate market.
The company has operated an estate agency office in Hong Kong for some years but is now developing a brokerage operation to complement its agency presence in the region which specialises in off-plan exhibitions to the HK investor market. It recently pre-sold over £20m worth of apartments at London's Arsenal FC stadium development.
Rob Winfield , director of HK operations, says: “South-East Asia is a fragmented market but is woefully under-serviced. We have secured six agreements with IFAs in Hong Kong, Singapore, Kuala Lumpur, Tokyo and Shanghai and have appointed two local practitioners to develop our proposition.
“These IFAs want to deal with a global brand name with the resources to help them cultivate their client banks. This is a £100m market for us.”
The Hamptons and Square Mile alliance has just recorded year-end revenues in excess of £4m and now has 32 fee-earners in place. But rumours are already circulating through the London broker community that more staff are set to jump ship after Hamptons' business development director James Rodea quit earlier this month.
Kevin Duffy, managing director of Hamptons International Mortgages, has been quick to quash the claims. He says the firm is in rude health and that he is continuing to see experienced advisers joining Hamptons from smaller rival firms.
Duffy adds: “We aim to broker over £1bn in the next 12 months.”