Tesco to sell property website

Tesco launched its property portal at the start of July last year, listing details of more than 300,000 homes for sale.

Most of the listings were provided by
the fish4homes website, but within days of the launch fish4homes had
terminated its agreement with Tesco amid complaints over Tesco’s
strategy for the site. The fallout between Tesco and fish4homes meant
that Tesco lost the right to market more than 250,000 homes on its
site, which was originally set up to allow homeowners to sell their
properties without the need for an agent. Instead Tesco would charge
a one-off fee of £199.
Shortly afterwards another estate
agency, Hannells in Derbyshire, threatened Tesco's property website
with legal action and demanded that its housing stock be removed from
the portal. Later that month Spicerhaart also instructed Tesco to
remove its details from the site.
The Tesco property portal no longer
lists any properties for sale on its website.
The company poised to sell its property
website to one of the country's largest estate agency owners
Spicerhaart. Both companies confirmed that they were in "final
negotiations" for the sale of the site.
A source close to the negotiations said
that Spicerhaart was buying the Tesco portal "for a highly
competitive price".