Arun Estates has confirmed that it has shut down a complete brand following readers’ comments on yesterday’s story on EYE.
The brand it shut down was Rooney & Co – but this consisted of just one office in Horsham, West Sussex, where Arun already has a branch in the form of Cubitt & West.
A notice on the Rooney & Co website now explains that it has consolidated its business with Cubitt & West.
The readers’ comments were on our story about Arun Estates giving its branch staff rises in basic pay, longer holidays, and reduced Saturday working.
Although Arun Estates did confirm extinguishing an existing brand, it also told EYE that later this year it will be opening an office in south-east London under a totally new brand.
We understand that the new office will not have a high street location and that the opening is likely to be in November.
Paul Rooney is the owner of Arun Estates and first made the Sunday Times Rich List two years ago with an estimated wealth of £110m. He slipped a little in the rankings last year, but his wealth was still estimated as being the same. This year he achieved a ranking of 786, worth £142m. He astutely bought a chain of what was then 100 branches in 1991 from Prudential Property Services.
Rooney, 69, is also known for his ownership of a string of racehorses, while Arun Estates is known for its success but also its philanthropy.