LSL Property Services will decrease the total number of Your Move and Reeds Rains branches with immediate effect.
This branch reduction is expected to reduce the headcount of Your Move and Reeds Rains staff, according to the parent company.
The planned reduction will cut the number of branches from 404 to 280, of which approximately 144 will be owned ‘keystone’ branches and an estimated 136 will be franchised.
LSL plans to close or merge the operations of 81 neighbouring branches into the new keystone branch network, which will be branded as either Your Move or Reeds Rains.
In addition, the firm intends to franchise 40 existing branches in locations which ‘do not geographically align’ with the proposed network of keystone branches.
The firm intends to close 43 branches which will not be combined with the keystone branches or converted into a franchised branch.
Furthermore, LSL announced it has begun to replace its legacy in-house developed residential sales and lettings system, ‘for increased functionality and processes for colleagues’ in the newly established keystone branch networks.
There will be no changes in relation to Marsh and Parsons or LSLi Estate Agency brands, according to LSL.
LSL executive director Helen Buck comments: “These keystone branches will be situated in core locations across the UK and will generally have larger teams of dedicated experts in residential sales, lettings and financial services roles than the average Your Move and Reeds Rains branches have in place today.
“The ambition for these keystone branches is to create a platform that will benefit from their larger scale, enabling us to invest in people and technology with the aim of providing enhanced levels of service to our customers whilst ensuring operational performance is optimised by competing more effectively in local markets.”