Keller Williams’ London Bridge market centre, established more than five years ago, will close next week, making it the latest KWUK casualty.
Chris Buckler, operating principal at Keller Williams London Bridge, has confirmed that the market centre will close after he failed to agree terms over a new contract with KWUK.
Reluctant to go into detail, Buckler said: “We decided not to negotiate on the extension of the franchise agreement, but wish KWUK all the best. I cannot comment further at this time.”
Several UK franchises established by franchisor Keller Williams have closed over the past 12 months, and this latest closure comes swiftly off the back of the insolvency of Keller Williams’ Evolve Market Centre.
Companies House documents reveal that TBF Centres entered voluntary liquidation last month, which is being managed by FRP Advisory.
EYE understands from several well-placed sources that at least two other market centres could be on the verge of closing, following disputes between the license holders and head office.
Several investors in the Keller Williams UK business are said to be disgruntled.
Keller Williams UK first launched here in 2013 and has been managed by Ben Taylor since 2017 but has failed to gain much traction. A number of high profile senior leadership personnel have fled the business in recent times including Nicky Stevenson (EA Events, Fine & Country), Simon Leadbetter (Knight Frank, Countrywide, Fine & Country), Russell Quirk, Anthony Quirk, Gaven Swan (Countrywide), Wayne Albutt (KW South Africa, EweMove), Jason Cannon (Spicer haart), Will Clark (Knight Frank) and Matt Thomson (Foxtons and D&G) – some of these names are very high profile property industry people and none of which lasted even a year at the UK headquarters of the US based entity.
Keller Williams UK CEO Ben Taylor insists that it was KWUK’s decision to close the Keller Williams London Bridge market centre after five years, despite it being a profitable franchise (EYE has seen the accounts).
Taylor commented: “As part of its ongoing plans to develop and grow the business, KWUK have taken the decision to not renew the sub-licence agreement for the Market Centre in London Bridge.
“This licence will therefore terminate in accordance with the current agreement on 15th June 2023. Agents will be well supported from any one of four neighbouring Market Centres.
“KWUK has, over the last five years, invested significant time and resource in learning and building exactly what is required to best support agents to build businesses that are successful and Market Centres which are both profitable and impactful to their local communities. This further restructuring is an important step in the development of the KWUK success story.
“KW is the world’s largest real estate business by agent count, this is due in no small part to the culture of KW across the globe – the ‘glue’ which holds our agents, associates, and leadership together as we all work towards leading lives worth living.”
It is the end of an era for Keller Williams London Bridge, which was managed by Julian Jacobs until May 2021, when he sadly died suddenly, of a heart attack, at the age of just 44.
Tragedy as estate agent dies aged 44
