PrimePitch Merges With Smaller Rival

LONDON-Two of the UK’s top online investment sites, PrimePitch.com and e-propertyinvestor.com, have agreed to merge, reflecting the increasing trend towards consolidation in the property e-commerce market.

The two businesses will be amalgamated and will trade under the PrimePitch name. PrimePitch was founded in August 2001 by agents CBGA and Churston Heard to target smaller investment lots in the sub-£5 million ($7 million) price range. It has achieved £85 million ($120 million) of transactions so far and vendors using the service include Schroders, Land Securities and Frogmore.

EPI was launched in March 2001 by former investment agent Paul Marples with backing from Michael Elliott and Miller Kitching BCM. Like PrimePitch it targeted the smaller end of the investment market.

PrimePitch, Managing Director Robin Christie said: ‘PrimePitch is already successfully penetrating the private investor market. The enlarged base will enable us to employ an even more pro-active marketing approach for the benefit of owners, agents and investors. ‘

The new business is expected to be fully operational by September 2001