Dexters snaps up sixth rival agency in 12-months in London property boom
London estate agents Dexters yesterday snapped up its sixth competitor in the past year, as it looks to make significant headway in the capital’s booming property market.
Dexters declined to comment on the price of the agreement, but industry sources believe the deal for Conran was a seven-figure sum.
“London has bounced back from the disruption caused by the Covid-19 pandemic and continues to be an attractive investment for local and international clients, and it is important that Dexters continues to expand and thrive,” CEO Andy Shepherd said.
It comes as London rent and property prices continue to swell, with the city reopening its arms to overseas students and business folk, as well as those who left for greener pastures during lockdown restrictions.
Conran, founded in 1999, has offices in Greenwich, Brockley, Charlton and Lee, and is intended to bolster Dexters’ presence in the south east.
Dexters is understood to be scouting out more agencies to partner with over the next three years, after revenue in 2021 jumped more than a third to £143.3m.
Last year’s flurry of deals left Dexters with around £34.6m in surplus cash in comparison to 2020.
Co-founding director at Conran, Oliver Powell, said the firm was keen to be part of Dexters’ office expansion, which creates “a strong foundation for further increases in revenue and future expansion.”