Hunters soars on AIM debut

Hunters' Bridlington branch
Hunters' Bridlington branch
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SHARES in estate agency Hunters Property soared 18 per cent on their first day of trading on AIM, marking one of the most successful Yorkshire floats over the past year.

The York-based firm opened at 60p and closed the day at 70.5p.

Hunters said the float will enable it to fulfil its ambition to expand to 500 offices around the country.

The group’s managing director Glynis Frew said the flotation is a natural progression for the group.

“We want to be the country’s favourite estate agency,” she said.

“At the moment we have just over 150 branches and the float will give us the funding to make strategic acquisitions. We also want to grow organically.”

Around 60 per cent of Hunters’ business is in the North, 23 per cent is in London and 16 per cent in in the South and the Midlands.

“We have good coverage in Yorkshire and we will expand wherever there is a gap,” said Ms Frew.

Most of the growth will be through franchises.

“It’s about finding like-minded people to run the franchises. We have a great proposition,” said Ms Frew.