Sherry Fitzgearld

manna452121

Is this a sign of the times; http://www.vision-net.ie/Company-Info/Sherry-Fitzgerald-Ireland-Limited-318316 NOTICE OF APPOINTMENT OF LIQUIDATOR

moby2101

Wow ..thought they would have been "too big to fail"...Surprised

tara m

Hmm - Not surprised, their attitude when I was househunting this summer in Limerick was appalling - 3 different branches, same hoity toity style...

Went for a look at a house they were advertising in Curragh Chase, liked it from the outside, asked to view only to be told 'Oh, it's closing on a sale today' 4 weeks later, still advertised on their website. Emailed again and was told it was for sale, I metioned the earlier 'sale' she said oh that fell through it needs 70k of damproofing work done' My dad is a builder, said that the house would need to be triple it's size to afford that amount of work.

At the branch in limerick, asked to speak to someone re properties, and was directed to the receptionist, who glanced at my wellies and waterproof and told me no-one gets a mortgage in Ireland, I told her I was a cash buyer, and she said everyone says that...!!


Phoned a branch to view a house in Birr. She said "Are you going to make an offer, as I'm not going all the way out there on a whim' I said I would need to SEE the house to make an offer, obviously. She told me to 'Have a think about that as I'm the only one in the office this week and can't close up just to show a property'. So I was miffed by this attitude, and went for a sneaky go-see without the agent. I rang her again and said I would like to see the inside, but was only in the country for a few more days, again I got the 'only me in the office' line. I left it.

I found myself a really good agent with DNG - found a property and finally moved in last week, lock stock and barrel. The agent popped round yesterday with phone numbers of logs guys, gas guys etc etc - and gave me a lesson on using the range, and loads of local info, has been a godsend.

Strikes me that if you only have one member of staff per branch, you cant take anyone to view a property, ergo you wont make any sales!

I feel though for anyone who has been trying to sell their property through them, your buyers have been being put off for months!

L.T.P.

tara m wrote: »

Hmm - Not surprised, their attitude when I was househunting this summer in Limerick was appalling - 3 different branches, same hoity toity style...

Went for a look at a house they were advertising in Curragh Chase, liked it from the outside, asked to view only to be told 'Oh, it's closing on a sale today' 4 weeks later, still advertised on their website. Emailed again and was told it was for sale, I metioned the earlier 'sale' she said oh that fell through it needs 70k of damproofing work done' My dad is a builder, said that the house would need to be triple it's size to afford that amount of work.

At the branch in limerick, asked to speak to someone re properties, and was directed to the receptionist, who glanced at my wellies and waterproof and told me no-one gets a mortgage in Ireland, I told her I was a cash buyer, and she said everyone says that...!!


Phoned a branch to view a house in Birr. She said "Are you going to make an offer, as I'm not going all the way out there on a whim' I said I would need to SEE the house to make an offer, obviously. She told me to 'Have a think about that as I'm the only one in the office this week and can't close up just to show a property'. So I was miffed by this attitude, and went for a sneaky go-see without the agent. I rang her again and said I would like to see the inside, but was only in the country for a few more days, again I got the 'only me in the office' line. I left it.

I found myself a really good agent with DNG - found a property and finally moved in last week, lock stock and barrel. The agent popped round yesterday with phone numbers of logs guys, gas guys etc etc - and gave me a lesson on using the range, and loads of local info, has been a godsend.

Strikes me that if you only have one member of staff per branch, you cant take anyone to view a property, ergo you wont make any sales!

I feel though for anyone who has been trying to sell their property through them, your buyers have been being put off for months!

My God thats shocking. I have to say some of the other "Auctioneers" in Limerick aren't much better. You'd think the downturn would put manners on them but it seems they have only got worse :mad:

Itsdacraic

manna452121 wrote: »

Is this a sign of the times; http://www.vision-net.ie/Company-Info/Sherry-Fitzgerald-Ireland-Limited-318316 NOTICE OF APPOINTMENT OF LIQUIDATOR

How does that tally with this article from the previous day? Is it possible the notice you've linked to is just the liquidation of some other company within the business?

http://www.irishtimes.com/newspaper/finance/2012/1030/1224325895061.html

Sherry FitzGerald in black after sale of UK arm

CIARÁN HANCOCK, Business Affairs Correspondent


THE IRISH operation of estate agent Sherry FitzGerald made a profit of €13.5 million in 2011 after the sale of a majority stake in its UK arm led to substantial inter-company loans being waived.
Accounts for Sherry FitzGerald (Ireland) Holdings Ltd, show that intercompany loans of €19.3 million were waived last year.
This followed the disposal of its 72 per cent stake in London-based agent Marsh Parsons to LSL Property Services for €44 million.
This deal enabled the Irish operation of Sherry FitzGerald to return to the black.
It has also left it debt free having closed 2010 with bank loans of €17.1 million.
At an operating level, Sherry FitzGerald’s Irish turnover declined by 4 per cent to €15.1 million, as the property market in Ireland remained challenging. Staff costs fell by 10 per cent to €10.9 million.
At Ebitda (earnings before interest, tax, depreciation and amortisation) level, Sherry FitzGerald made a loss of €100,000 last year compared with a deficit of €1.3 million in 2010.
Interest costs, depreciation and amortisation charges, and fixed asset impairments left the agent with an operating loss of €2.1 million, roughly half the deficit recorded in 2010.
It also booked a charge of €3.7 million relating to an “onerous lease” on a former office on Leeson Street in Dublin.
Sherry FitzGerald closed the year with €2.1 million in cash, almost double the level of 2010.
On current trading, chief executive Mark FitzGerald expects “similar results” for this year.
“We would hope to be Ebitda positive,” Mr FitzGerald added.
He said the group is selling about 1,000 units a year here but has 8,000 registered buyers (cash or loan-approved) on its books.
The agency sold 40 homes in the first nine months of this year for €1 million or more.
Mr FitzGerald said “good sales volumes” had come through since March, particularly in Dublin.
There has been a “re-emergence of new homes” being built on the fringes of Dublin, including small schemes in Killester, Carrickmines and Stepaside, he said.

manna452121

This is the other link: http://www.vision-net.ie/barometerAppointmentsByWeek.jsp?t=3 and this gives two listings.

Itsdacraic

manna452121 wrote: »

This is the other link: http://www.vision-net.ie/barometerAppointmentsByWeek.jsp?t=3 and this gives two listings.

I still reckon it's just some tidying up of the company structure as opposed to the entire company going into liquidation.