UTV New Media buys 50pc stake in property website

6 Sep 2010

UTV New Media has acquired a major stake in property website PropertyPal.com.

The company has bought a 50pc share in the site, which was set up three years ago.

According to UTV New Media, PropertyPal.com offers the largest number of Northern Irish properties for sale and rent through leading estate agents. The site has more than 30,000 properties for sale and 3,500 properties to rent in towns and cities across Northern Ireland. It will now be supported by television and radio advertising campaigns on UTV and U105. 

Errol Maxwell, the site’s founder, will continue as managing director and the website’s eight staff will be based at UTV’s headquarters in Belfast.

“This is a strategic investment which we believe represents a good fit for our business,” said Jeremy Biggerstaff, managing director of UTV New Media.

“It is a move that complements our growing digital suite of ‘classified portals’, since we have already made significant investments in the car market with UTV Drive, and the recruitment industry with RecruitNI.”

“This partnership with UTV New Media puts us in a very strong position to grow the business and improve our service to estate agents and property purchasers alike,” said Maxwell.

Article courtesy of Businessandleadership.com