Property and tech entrepreneur Grenville Turner joins the Board at BidX1
BidX1, the leading digital property investment platform, recently announced that Grenville Turner, formerly CEO of Countrywide, a Founding Director of Rightmove plc and a past Director of Zoopla plc, has been appointed as Chairperson of the board.
Turner has over 40 years of experience in retail banking, the property sector, and online businesses. He was CEO of Countrywide, the UK’s largest estate agency, from 2007 to 2014, during which time he took the Group private and subsequently oversaw its return to the public market in 2013 as part of a £1bn+ IPO.
Prior to that, Turner held several executive roles at Halifax Bank of Scotland plc, including Chief Executive of Business-to-Business Banking and Chief Executive of Intelligent Finance, a role which saw him develop HBOS’s internet offering into a full-service online banking platform.
BidX1 is a digital platform which connects users across the globe with real estate investment opportunities in five markets and enables them to complete the entire transaction online. A leader in the PropTech space, the Company was first established in Dublin in 2011, where it held large-scale auction events for several years before transitioning to a digital model in 2015.
BidX1 entered the UK market in 2018 with the acquisition of auctioneering firm Andrews & Robertson and has since expanded into Spain, South Africa, and Cyprus. The firm’s digital approach to property sales has proven popular with buyers and sellers across Europe; BidX1 has sold over 14,000 properties to date, equating to a Gross Transaction Value of over €2.8 billion (£2.3 billion).
Turner’s appointment as Chairperson comes as BidX1 gears up for another phase of growth. Last November, the Company announced strategic investments from two new shareholders: doValue, the Servicer in Southern Europe for loan and real estate management services, with €160 billion (£133 billion) of assets under management, and Oliver Wyman, a leading global management consulting firm.
A highly experienced leader, Turner is currently Non-Executive Chairman of YOPA, the hybrid online real estate agency, where he has overseen a strategy that has resulted in YOPA increasing its share of listings nationally and boosted revenue by 38%.
Michael Murphy, Chief Executive Officer at BidX1, commented: “We’re delighted to welcome such an experienced and respected senior executive to our board. BidX1 will benefit from Grenville’s extensive experience in the property, PropTech and retail banking sectors at both executive and board levels, where his strategic vision and digital acumen have helped so many businesses achieve their growth potential.
“Growth in Southern Europe is a near-term priority for BidX1 while in more established markets we will be focused on building strategic partnerships, as well as rolling out adjacent products and services to our buyers and sellers. Grenville’s perspective will be invaluable as we seek to identify new opportunities in existing and new markets and continue to scale our platform.”
Grenville Turner, BidX1’s incoming Chairperson of the Board, said: “BidX1’s growth trajectory has been impressive, and that growth is underpinned by equally impressive fundamentals: an experienced management team, deep property sector expertise and a digital-first model which puts transparency, efficiency and user-experience at its core.”
Turner will join existing board members Stephen McCarthy, who founded BidX1 in 2011, and Lindsey McMurray, Managing Partner at private equity firm Pollen Street Capital, which made a strategic investment in BidX1 in 2018 as the Company began to expand internationally, as well as James Scott, a Partner at Pollen Street. Vicente Vázquez Bouza, Partner in Corporate Finance & Restructuring at Oliver Wyman, and Daniele Della Seta, Head of M&A and Strategic Finance at doValue, joined BidX1’s Board of directors following the recent investments.