Search
 

Primepitch Takes Stake In Propex Property Trading System

LONDON-PrimePitch, the listing service backed by agent Churston Heard has injected $425,000 into Propex, the struggling investment trading system. PrimePitch will take a 33% stake in the business alongside a group of major property investors and its founders.

By Graham Parker | Updated on December 04, 2001

LONDON-PrimePitch, the on-line listing service backed by agent Churston Heard has paid £300,000 ($425,000) for a one-third stake in the struggling property trading system Propex. Paul Marples, currently joint managing director of PrimePitch, will become Chief Executive at Propex but the two will continue to operate as separate businesses.

Propex was founded in February 2002 by economist Colin Barber, with venture capital from Internet incubator Brainspark, as a platform for the on-line trading of property investments. It won significant backing from major property players including Scottish Widows, Aberdeen Property Asset Managers, Prudential, Hammerson and Land Securities, who between them bough a one-third stake in the business. But it has been boycotted by agents.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.