Crowd-funding appeal by 'Poundland' agency

A so-called hybrid' letting and estate agency called EstatesDirect, led by the founder of Poundland, is seeking investors via the Crowdcube crowdfunding website.

EstatesDirect first launched online in some parts of the UK in 2012 and has had mixed fortunes, letting and selling only 450 properties since that time, but now it aims to become a nationwide service with a fixed fee. It says it will bridge the gap between online and high street agents.

EstatesDirect operates with a website as its shop window but then has what it describes as qualified regional agents to value property, prepare details, and handle appointments, valuations and viewings.

This latest move allows members of the public to buy equity in EstatesDirect through Crowdcube, a crowd-funding website which has already attracted over £20m in investors for a variety of projects, mostly outside the world of property.

Unlike many online operators, Steve Smith - the Poundland founder who is chairman of EstatesDirect - is not dismissive of traditional agency. We know that homeowners and landlords still value the knowledge and service they receive from experts in the field he says.

We also have a number of franchised businesses, licensees and local agents, who provide the expertise and personalised service of a high-street estate agent. For us, it's all about giving sellers more control he says.

Like every offer of this kind, there are high ambitions - in this case the company says it wants to be the UK's largest single-branded estate agency network within the next few years.