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© Reuters. FILE PHOTO – A Foxtons car was spotted parked in West London on July 29, 2016. REUTERS/Peter Nicholls

(Reuters) -London-based real estate agent Foxtons Group said on Friday industry veteran Nigel Rich will replace Ian Barlow as its chairman, effective Oct. 1.

Rich was previously the chairman of Hamptons International Estate Agents and Segro Warehouse Operators. He will take over at Foxtons, having earlier announced his intention to resign.

Foxtons stated that Barlow would also resign as director once the new chairman joined the board.

Sky News Thursday reported that Barlow would also be leaving the board as a director after he was removed by its largest shareholders. (https://

In July, Foxtons said it was reviewing strategic options, including a potential sale, for its mortgage broking business even as the company returned to a half-year profit after posting a loss for the previous two years.

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