Zoopla Property Group is planning new investment in PrimeLocation, its premium property-listings brand, AIMGroup reports.
The report says Primelocation.com has undergone a complete overhaul and will be relaunched with a supporting, nationwide advertising campaign.
The new site (not yet unveiled) has been created to appear contemporary, with greater differentiation for area sponsorship and premium listings which will have a fresh look unique to PrimeLocation.
Zoopla says the new site has been designed to attract more home movers to the site, so it can deliver greater results to members.
The investment ends long-running speculation among agents as to whether the PrimeLocation brand would continue, or be merged with ZPG’s main property listings site Zoopla, AIMGroup reports.
Schedules have not yet been given for the PrimeLocation relaunch or the supporting advertising campaign.
PrimeLocation.com is part of Zoopla Property Group Plc.. The site is positioned in the middle and upper tiers of the real estate market, and lists properties for sale and rent – both in the U.K. and overseas.
The site claims to attract more than five million visitors a month and advertises properties from over 16,000 estate and letting agent branches.
Overseas property listings originate from more than 60 countries, including France, Spain, Portugal, Italy, Cyprus, South Africa, Dubai, Australia, Croatia and Bulgaria.
Meanwhile Zoopla Property Group PLC stock had its “neutral” rating reaffirmed by equities research analysts at BNP Paribas in a research note issued on Monday.
BNP Paribas currently have a GBX 280 ($3.69) target price on the stock which points to a potential downside of 1.27 per cent from the company’s current price.
The firm’s market capitalization is GBX 1.03 billion.