Home Commercial Property DEXTERS buy Marsh & Parsons, creating £180m and 150 office estate agent, making it London’s largest estate agent

DEXTERS buy Marsh & Parsons, creating £180m and 150 office estate agent, making it London’s largest estate agent

by LLP Finance Reporter
26th Jan 23 4:42 pm

DEXTERS, London’s leading Estate Agent and Chartered Surveyor, has acquired award winning London estate agent Marsh & Parsons from LSL Property Services plc (LSL), creating London’s foremost agency operating 150 offices across London, with 2,000 colleagues serving over 37,000 landlords and advising on the sale of over £5 billion worth of property per year. DEXTERS sell and let more property in the capital than anyone else.

The new combined business will have an annual turnover of over £180 million and handle over 35,000 property transactions per annum. DEXTERS will retain the Marsh & Parsons brand name, which is very well renowned in the London market, and over the coming years plan to double the size of the Marsh & Parsons business in line with the ongoing expansion of DEXTERS.

Andy Shepherd, CEO of DEXTERS says: “DEXTERS has acquired Marsh & Parsons because we admire the business which is a well-established London brand with a loyal following of clients and has a very similar culture to DEXTERS with a focus on providing customers with strong local expertise across the capital. We plan to double the size of Marsh & Parsons, developing a market leader that stands apart from the competition.”

Justin King, Chairman of DEXTERS says: “The acquisition of Marsh & Parsons is another important step in the ongoing growth of DEXTERS. The DEXTERS group now has more local offices and a greater presence than any other estate agency in London. DEXTERS group is the market leader offering an unrivalled personal service to buyers, sellers, landlords and tenants across the capital.”

Marsh & Parsons, founded in 1856 and originally led by William Marsh and Frederick Parsons, currently has 30 London offices and over 300 staff. The involvement of the founding families in the business ended in 1956 and since 2011 Marsh & Parsons has been owned by LSL.

DEXTERS, founded in 1993 and led by CEO Andy Shepherd, working alongside Chairman Justin King CBE, has 120 offices and over 1,700 colleagues, with the group currently looking after over 30,000 landlords and facilitating more than 28,000 property transactions across London per annum.

In February 2021, DEXTERS announced a partnership and major financial backing from Oakley Capital with a growth strategy of opening further offices and building market share through the acquisition of other competitors, alongside expanding the group’s digital presence and services.

DEXTERS recently announced the opening of 9 new DEXTERS offices in south east London located in Blackheath, Brockley, East Dulwich, Honor Oak, Ladywell, Lee, New Cross, Nunhead and Peckham Rye.

DEXTERS was 16% up on new instructions in December 2022 compared to 2021, and applicant registrations were up by 30% over the festive period, making for a busy start to 2023. Many of these enquiries came from national and international blue-chip companies looking to relocate staff to London.

DEXTERS has maintained consistent growth, increasing revenue by 14% per year over the last 10 years. DEXTERS has a proven track record of providing first-class service with over 45,000 Google reviews with an average rating of 4.9 out of 5.

For further information on DEXTERS visit: www.dexters.co.uk

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