Under offer: £100m deal for Beeny’s estate agent

THE online estate agent set up by television presenter Sarah Beeny ( pictured) was last night said to be in merger talks with one of its main rivals. Tepilo, which was founded by the 46-year-old in 2009 and is backed by former Daily Express owner Richard Desmond, is in negotiations with Emoov over a deal that would create a challenger to online agency Purplebricks. The transaction would involve buying another estate agent, with the combined business valued at over £100m. The group would then seek to list the company’s shares on the stock market in London this autumn, according to reports.

Beeny is best known for presenting Channel 4 property shows including Property Ladder, Britain’s Best Home and Streets Ahead.

The tie-up with Emoov is also understood to include a deal with Channel 4’s commercial growth fund, which provides free airtime on the broadcaster in return for stakes in technology start-ups.

Internet-based estate agents such as Purplebricks, Emoov and Tepilo have been disrupting the industry with radical changes to the traditional fees structure. But the proposed tie-up comes amid concerns over a slowdown in the property market.