The UK’s ‘ultimate property domain’ property.co.uk is available to purchase and is expected to attract strong interest from online estate agents and portals.
Another popular domain, realestate.co.uk, is also up for sale. Ownership of the domains will also include exclusivity for property.uk and realestate.uk.
The domains are being sold directly by Ryan Norrish, who has owned them since 2006. He described property.co.uk as the ultimate name in the UK property market and said both domains on offer could be used for a range of applications, from an online estate agency or property portal to a consumer-facing service or new market disruptor.
“This is an opportunity for an established property business to rebrand, or snap up the ultimate name in the industry. Alternatively, it’s the ideal name for a new player wanting to establish authority,” he said.
“Until now, property.co.uk has been unavailable to the UK market and we’re excited to see who comes forward and what the new owner decides to do with this extremely valuable domain. If somebody wants to lease the name with an option to buy, that’s a possibility, too.”
Norrish, an entrepreneur with a background in digital property marketing, said that the available domains are being sold now as the UK market sits on the ‘crest of a wave of digitalisation and revolution’.
He said the gradual rise of PropTech, growing influence of blockchain and increased market share of online estate agents presents the perfect landscape for someone to take on the domains and capitalise on the changes.
“The property market has arguably been slower than most industries to see major tech disruption, but now things are changing in a very big way, and there are some massive opportunities,” he continued.
He predicts that amongst all of these revolutionary changes, yet-to-be-born businesses will emerge into giants of the UK property landscape.
In recent years, market share of online estate agencies has risen to around 7%, according to the latest data from TwentyCi. On top of this, there is the rise of Purplebricks, which claims over 70% market share of the online market and is now valued at more than £500 million after debuting on the stock market in 2015.
Meanwhile, online estate agency, Yopa, has received huge investment totalling around £75 million – a large proportion of which has come from traditional property firms LSL Property Services and Savills.
“Blockchain technology is predicted to completely replace the existing system used for recording property ownership and transactions, while also revolutionising the way we borrow money and pay for property as well,” Norrish explained.
“That’s not to mention that liquidity is coming to the property market. For example, the largest portal in the US, Zillow, now buys properties instantly for cash and resells them as part of its ‘Instant Offers’ initiative.”
Norrish added that in many parts of the world, it’s possible to buy a share in a bricks and mortar home for less than £100 and then sell it wherever you like, just as it’s possible to sell a share in a publicly listed company.
“All of these changes are why there is no limit to the opportunities available to the new owner of property.co.uk and the success they could experience over the coming years.”
A deadline for buyers to submit offers will be set soon with the highest bidder rewarded. All offers will be considered as and when they’re presented.
Norrish concluded: “This is an opportunity unlikely to ever come around again, and it should be given careful and strategic consideration by potential purchasers.”
To register your interest or to contact the seller for further information, please visit www.property.co.uk and fill out the contact form.