Marsh & Parsons sale set to attract bids of £50m-£70m

First-round bids for Marsh & Parsons, the upmarket London-focused estate agent, are due on Friday.

A mixture of private equity funds, trade buyers and individuals are expected to bid between £50m and £70m in the auction, which is being run by Cavendish Corporate Finance. Marsh & Parsons is the UK arm of Irish estate agent Sherry Fitzgerald. It is considered a good time to buy estate agents as, following the housing-market downturn, valuations will not be high.