Connells launches overseas proposition with Spanish bank

14 October 2010

Leading estate agency group Connells is delighted to announce that from today it will be selling a large number of heavily discounted Spanish properties in the UK through a new partnership with Mediterranean CAM, part of the Spanish savings bank CAM. Connells has been selected by CAM to market its bank-owned and repossessed properties across Spain.

As part of the agreement, Connells will be offering buyers the option to rent the property for up to seven years, together with an option to buy, through CAM’s ‘Rent to Buy’ scheme. If that option is exercised during the first two years, all the rent paid can be deducted from the purchase price. Buyers will also have access to CAM’s 90 per cent mortgage and the peace of mind that any new build properties available are already built, so avoid the associated risks of buying off-plan.

“We are delighted to have been chosen by Mediterranean CAM out of a number of estate agencies to market properties abroad. CAM Bank is the fourth biggest savings bank in Spain and is an important financial institution with an impressive track record. We are both market leaders in our own fields and see this opportunity as a gap in both our portfolios that can now be filled,” says Connells Chief Executive Stuart Flavell.

“This partnership with Connells is the first we have made with any property agents since the start of the downturn which is testimony to Connells professionalism and extensive estate agency network,” says Alfredo Millá Ferrero, International Commercial Director for CAM Mediterranean. “We are delighted to enter into this agreement with Connells, especially as the Spanish market has a lot of exceptionally good value property to offer the UK market at the moment as a consequence of the need for Spanish banks to reduce the volume of properties on their balance sheets. Connells will be an intrinsic part of our overseas property sales proposition.” 
 

Through the partnership, the Connells Group (including both Connells and Sequence branches) will initially be offering up to 3,000 properties throughout mainland Spain, and the Balearic and Canary Islands. Properties include both new-build and second-hand homes from city-centre apartments to luxury villas.

“Now is a great time to purchase a Spanish property and we believe there is an increasing number of people looking to buy in this market,” says Stuart. “Through our branches across the UK, our customers can now purchase a property abroad safe in the knowledge that they have the backing of a recognised and respected UK estate agent, together with the guidance and advice from a well-established and successful Spanish Bank.”

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Further information
For further information and photography, please contact the press office on 01525 215419 or email Julia Brook, Group PR Manager: Julia.brook@connells.co.uk or Christine Webb, Group PR Executive: Christine.webb@connells.co.uk

Notes to Editors

About the Connells Group:
Founded in 1936 and comprising of 464 branches nationwide, the industry-leading Connells Group is the second largest and most profitable UK estate agency network. Last year, the Group generated £54.2 million in pre-tax profits making it the most successful estate agency group in the UK.
In addition to operating under the Connells brand, the Group trades under other well-known local names including Allen & Harris, Bagshaws Residential, Barnard Marcus, Brown & Merry, Fox & Sons, Jones & Chapman, Manners & Harrison, Roger Platt, Shipways, Swetenhams, William H Brown, Sharman Quinney and Pattison Lane.

As well as residential property sales and lettings, the Group has a comprehensive range of B2C and B2B services including new homes, mortgage services, conveyancing, EPCs, surveying, corporate lettings, asset management, land & planning, LPA receivers, auctions and relocations.

The Connells Group is consistently named Best Large Estate Agency at the Estate Agency of the Year awards, winning the top prize for four of the past six years. It is also highly acclaimed in the New Homes category, winning Gold five times in the last six years, and in the Financial Services category for which it currently holds the Gold prize. For more information, please visit www.connells.co.uk




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