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Daily Mail To Buy Primelocaion.cm

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Newspapers and Estate Agents what a combination B)

Daily Mail offer for primelocation.com values co at 48 mln stg UPDATE

(Updating with further details)

LONDON (AFX) - Newspaper group Daily Mail & General Trust PLC said it has

made a recommended 72.78 pence per share cash offer for Fastcrop PLC, whose main

operation is the primelocation.com property website.

The offer values Fastcrop at 48 mln stg.

Primelocation.com gives estate agents the opportunity to advertise their

properties on the internet, and also contains listings of properties abroad.

DMGT said irrevocable commitments to accept the offer have been received

from Fastcrop shareholders representing over 75 pct of shares, DMGT said.

In a seperate statement, estate agent Savills PLC, which holds 14 pct in

Fastcrop through its wholly-owned subsidiary Savills (L&P) Ltd, said it will

likely receive the proceeds from the sale of its shareholding early in 2006.


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Media group Daily Mail & General Trust Plc. has made a cash offer to buy a Fastcrop Plc., which owns the residential property website, primelocation.com. The company said it has recommended 72.78 pence for a share of Fastcrop, valuing the company at 48 million pounds.

The website is popular among estate agents, who can advertise properties on sale. The site also has a listing of properties available abroad. There are some 500 real estate agents who regularly make use of the website.

Daily Mail had already bought a rival property website, FindAProperty. It is significant that it had announced recently about its proposal to sell its regional newspaper division, Northcliffe.


No point in reading the Mail for the truth about house prices.

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How does it work, do they charge for advertising the property? If so its a shrewd move. I think there will be plenty more property on the market in the next few years. What do you think?

It's got to be something similar to what Tesco’s is going to do. Lets face it all EA’s do is advertise.

I’m overwhelmed by the amount of properties on the market at the moment!!!!

(spoilt for choice.) if only they were cheaper.

Daily Mail pays £48m for homes websitel

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