Countrywide eyes £1bn rental fund
Countrywide said yesterday it was on the hunt for a partner to help it build a £1bn fund to invest in rental property, as it posted its first profit since returning to the stock market. Britain’s biggest estate agency said it had committed £20m of its own capital to buy a portfolio of rental properties. Total income for the year to 31 December rose 11 per cent to £584.8m, while adjusted earnings, tax, depreciation and amortisation rose 37 per cent to £86.6m.