Estate agency chain Dexters on Monday shrugged off clouds hanging over the capital’s property market and said it has bought the London and Surrey arm of rival Jackson-Stops.
The firm will take over 11 Jackson-Stops branches as part of the deal, including in Pimlico, Mayfair and Wimbledon. The vendor’s sites outside of the South East are not part of the purchase.
No price was given but it will push Dexters’ annual turnover, including organic growth, to over £100 million from £86 million last year. It also brings Dexters’ UK estate to 106 offices.
The acquisition comes despite jitters in London housing, with some would-be buyers putting off deals until there is more Brexit certainty.”
Jeff Doble, who founded Dexters in 1993, said: “We are demonstrating our confidence in both the future of the London property market, and our own business.”
He added: “Demand for property in London is strong with prospective buyers and tenants jumping in where they see good value, good location or both, regardless of what’s going on in the news.”
Nick Leeming, chairman at Jackson-Stops, comments: “This deal represents a very exciting new phase for the London business. The London offices will continue to operate under the Jackson-Stops name.”
