Is Location, Location always best? Not for Phil Spencer apparently...

March 4, 2009 - PRLog -- This recent article in the dailymail.co.uk has caused some concern in the property market but leading property search company, Elite Property Search based in Bournemouth are weathering the storm as Tim Sharp of Elite explains, “we are very surprised to hear this news as we have never been busier. Since the turn of the year we have been approached by 57 active buyers with a combined purchasing power in excess of £130 million all who are looking for prime UK property in excess of £1 million”.

“Although we have found that the economic situation has made people a little more cautious, we are still experiencing a hunger from buyers to access the very best of UK property and for sellers who contact us directly to engage with active buyers. Many buyers contact us as they are keen to access our database which holds in advance of £½ billion worth of privately available prime UK property which cannot be accessed by any other source”. http://www.elitepropertysearch.com/

Phil Spencer's property company is the latest victim of the housing slump.  Property expert and co-presented Channel 4's Location, Location with Kirstie Allsopp - Phil Spencer's homefinding business has finally gone bust. He had put his own money into Garrington Home Finders in a bid to save it, but all ten members of staff at the Chelsea-based company have now been laid off and the firm has gone into administration.

The property slump forced the guru to scale down his business empire last year and less than 12 months after its glitzy launch, Garrington closed its Cheshire office in November.

Mr Spencer admitted the crunch had hit Garrington like any other property company. He said: “The correction in the housing market continues to unfold with unprecedented speed. Nobody can know how long this is all going to take to turn around and we should be highly speculative of anyone who claims to be able to do so.”

To read whole of article see Daily Mail http://www.dailymail.co.uk/news/article-1147582/Location-...

For further information on country estates, million pound houses or farms for sale contact Elite Property Search on 01202 766566 or visit their website.

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UK property search agents - Elite Property Search specialise in the search & acquisition of exclusive country properties and waterside properties including farms for sale, Sandbanks properties, country estates, equestrian properties & London premier properties for corporate & high net worth clients. Visit http://www.elitepropertysearch.com