Question mark over future of Foxtons

Questions arose last week about whether estate agency Foxtons and its brokerage arm Alexander Hall would float on the London Stock Exchange or sell to a rival estate agency.

Alexander Hall confirmed last week that it is in the early stages of preparing to float on the LSE. The two firms’ parent company Heven Holdings has been valued at £440m.

However, there has been speculation in the press that Foxtons’ founder, Jon Hunt, may instead decide to sell to a rival company rather than float.

But Andy Pratt, chief operating officer at Alexander Hall, says that floating on the Stock Exchange is the preferred route.

He says: “We see floating on the Stock Exchange as the preferred route and the business can actually raise more money through a float rather than a sale.”