North Irish news company UTV has acquired a 50 percent stake in propertypal.com, which claims to offer NI's largest number of properties for sale and rent.
UTV will now support the portal through TV and radio advertising on UTV and U105. propertypal.com founder Errol Maxwell will continue as managing director and the website’s eight staff will be based at UTV’s headquarters in Belfast.
Jeremy Biggerstaff, managing director of UTV New Media, says this acquisition adds to UTV's suite of classifieds portals.
"We have already made significant investments in the car market with UTV Drive, and the recruitment industry with RecruitNI," Biggerstaff explains.
propertypal.com says it is currently listing 30,000 properties for sale and 3,500 properties to rent.
"We focus exclusively on properties within the local Northern Ireland market and since the beginning of 2010 have been the number one property website offering the greatest number of homes for sale or rent," says Maxwell.
[Image: Jeremy Biggerstaff (left) and Errol Maxwell.]