Liquid error: wrong number of arguments (2 for 1) What a difference a dot makes! Foxtons tipped for more success | Marsh & Parsons Sales and Lettings Estate Agents London

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What a difference a dot makes! Foxtons tipped for more success

Wed 20 Nov 2013

Foxtons could be a major beneficiary of a new domain name for the capital .London The new domain name

means that London businesses will be able to rename their websites as .london rather than .co.uk or .com

City analyst Canaccord Genuity thinks this will profit Foxtons and has upgraded the firm from a hold to a buy.

However, Foxtons is unlikely to be the only beneficiary, with a stampede of businesses applying to use the new

domain name, set to go live next spring.

So far, 20,000 businesses and other organisations, ranging from Carnaby Street to Selfridges, have expressed

their interest.

The domain name has been approved by the body responsible for domain names, ICANN.

The granting of the domain name is seen as a major marketing coup for London. It will need to be renewed every

year for a fee, which London & Partners hope will generate an income stream of millions of pounds which can be

used to promote the capital.

Deputy London mayor Kit Malthouse, who chairs London & Partners, the body that will auction the domain

names, said: Its a huge opportunity for London businesses to market themselves and promote our city across the

world. Canaccord says that if there is still room for Londons residential property market to rise further, then

Foxtons will certainly be a major beneficiary. The firm said: We value Foxtons with reference to its track record of

generating high returns on invested capital, its ability to grow organically and its intention to return its free cash to

shareholders. Foxtons floated in September and has since posted strong results for the first nine months of this

year, with revenue of 41m up 17.9%% on the same period last year.

The new domain names need not and these are purely examples be foxtons.london, winkworth.london or

marshandparsons.london

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