Southern Homemove, which was only registered with Companies House in March this year, purchased 23 of LSL's branches run by Goodfellows, Hawes & Co, Lauristons and Davis Tate, which covers the property market across Berkshire and Oxfordshire. LSL announced soon after the deal was agreed with Southern Homemove in May that its remaining estate agency network of 183 branches would become franchises. An update statement to the City from LSL on 10 May read: "As part of the steps taken to affect franchise agreements, these companies have been acquired by a new franchisee, Southern Homemove Limited, in return for a long-term royalties franchise agreement and de minimis consideration for assets transferred".