Hilco Streambank (“Hilco”) is seeking offers to acquire the Intellectual Property Assets of Upside Capital Limited (in Liquidation) (“Doorsteps” or the “Company”) on Behalf of the Joint Liquidators of the Company, Lee De’ath and Tom Gardiner of Begbies Traynor (Central) LLP.
Prior to Liquidation, Doorsteps was a leading online estate agent that disrupted how homes are sold across the UK, offering a cheaper, more convenient way for homeowners to sell their properties.
Via its popular web-based platform, Doorsteps allowed sellers to market their properties for less than £500 without leaving their homes, modernising the industry and challenging the services of high street estate agents, often seen as expensive and outdated.
At its peak, Doorsteps sold over £1 billion worth of homes across the UK, serving over 5,000 happy customers.
In the financial year ending 31 December 2020, the Company generated revenues of c. £2.1m with a gross profit of c. £675k.
This opportunity offers a prospective buyer the chance to acquire the famous Doorsteps brand and related assets to pick up where the Company left off, capitalising on the growing demand for a modern alternative to rival old-fashioned and traditionally costly high-street estate agents.
The Doorsteps brand is highly respected and well-known, particularly in the UK.
The Doorsteps brand is the identity behind what was formerly one of the UK’s largest online estate agents, with the Company establishing itself as the 10th largest estate agent within 18 months of its formation and listing around 1 in every 100 properties on the market.
The brand is highly recognised, having been voted ‘2018 Best Emerging Online Estate Agent’ by CV Magazine and, prior to Liquidation, was listed by Which? as one of the UK’s Biggest Online Estate Agents.
The brand was built on the strength of its reputation, bolstered by its extensive media coverage, having been promoted in the mainstream media by the likes of the BBC and ITV.
The Company holds unregistered trade marks covering the “Doorsteps” brand name and logo.
The Company holds the primary doorsteps.co.uk domain name, which hosted the Company’s website and platform technology and was directly linked to revenue.
The Company’s branded Trustpilot account is also available to acquire, where the Company retains an “Excellent” rating based on over 6k reviews.
The Company holds a database of c. 5.6k prospective customers, capturing critical data such as names, contact details and lead stage. The Company’s valuable database of potential customers is available to acquire.
All expressions of interest and bids are to be directed to Hilco in writing. A Bid Submission Form is available on request. Please contact Hilco to gain access to a virtual data room of further information on signing a confidentiality agreement.
The Joint Liquidators act as agents of the Company and without personal liability.
The bidder acknowledges that Hilco acts as an agent for the Joint Liquidators who offer for sale only what right, title and interest (if any) the Company possesses in the assets. Such sale will be without any warranties, expressed or implied. The information provided has not been verified by Hilco or the Joint Liquidators and bidders are deemed to have carried out their own due diligence.
VAT, if applicable, at 20% will be added to the price. A non-refundable deposit of 20% will be payable by the buyer within 48 hours of bid acceptance. A buyer’s premium of 10% of the sale price is payable by the winning bidder. Legal completion to occur within 5 business days of bid acceptance. Hilco’s full Terms and Conditions apply.