Foxtons closes flagship Park Lane office amid property market slump
Estate agent Foxtons is closing its Park Lane flagship office amid a London property market slump.
Staff will be moved to the Marylebone office where they will continue to cover Mayfair and Central London.
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The estate agent, which has 65 branches in Greater London, has also announced the closure of its Barnes branch, which will merge into the Putney office.
The agent reported a £5.5m drop in revenue in its latest half year results to the end of 30 June, and a loss of £2.5m.
A Foxtons spokesperson said: "At Foxtons, we believe it's the service we deliver that makes Foxtons the best place to buy, sell, let or rent a property.
"That's why we're dedicated to setting the standard for the property industry, and always looking for new ways to serve our customers better.
"We recently launched a new Foxtons Prime sales and lettings team focused on providing a bespoke service for high-net-worth individuals and their £3m+ properties.
"The team will be moving from their dedicated offices in Park Lane to our flagship Marylebone office to join up with our other services. The team will continue to cover Mayfair and the rest of Prime Central London whilst also working across our network of 65 branches in Greater London."
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