London estate agent Winkworth has launched an independent review of its board as it battles to contain the fallout of a boardroom family feud involving the firm’s its chief executive and his father, the chair.

The AIM-listed firm, which is one of the UK’s oldest estate agents and specialises in properties in the City in boroughs such as Pimlico, Westminster, and Notting Hill, said on Wednesday it has commissioned an external advisory firm to independently review its board and assess its corporate governance and composition.

Winkworth said as part of the review, the estate agent “has received initial recommendations regarding the composition of the board and appropriate corporate governance arrangements.”

“Further to these recommendations and as part of the Company’s long-term succession planning, the board is considering its composition as a whole including the appropriate balance of independence across the roles of non-executive chair and non-executive directors,” Winkworth said.

The property seller said it “awaits the full findings of the independent board review and will consider these alongside its succession planning.”

The full findings of the board are expected to be published in the coming weeks.

This comes after City AM revealed in August the estate agent had initiated High Court proceedings against Simon Agace – a non-executive director – for allegedly breaching confidentiality standards after he demanded to overhaul the board. The offensive targeted Winkworth’s entire director base, which includes Simon’s son, current chief executive Dominic Agace.

The London-based firm said in August it was halting the legal proceedings for a month as those involved “are continuing discussions with a view to resolving the matters between them.”

On Wednesday the estate agent confirmed the firm and Dominic Agace have agreed a consent order in the ongoing legal proceedings, which has been confirmed by the court.

Winkworth said the consent order “shall remain in full force and effect until the dispute is resolved, or until further order of the Court.”

“The parties are in ongoing discussions with a view to reaching a settlement,” Winkworth said.

The legal proceedings which were due to take place on 5 October have been adjourned until further notice.

Legal proceedings may hit profits

At the start of September Winkworth warned on profits for the year ahead, citing the legal costs tied to the boardroom family feud.

Winkworth incurred £105,000 worth of legal and advisory costs during the six months ending 30 June 2026, with a further £376,000 racked up between 1 July and 15 September.

The firm confirmed to City AM the costs are tied to High Court proceedings the company initiated in August against its current chair and former chief executive, Simon Agace, for allegedly breaching confidentiality rules.

“Further costs are expected, although the total amount remains uncertain and will depend on how matters progress,” the estate agent said, adding: “The final impact remains uncertain and will depend on how the ongoing proceedings and related discussions progress.”

Winkworth declined to comment.