Foxtons buys West London rival Douglas & Gordon for £14.25m

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Foxtons made a loss in profit during the full year, but an increased demand for renting due to a tough buyer market helped aid its balance sheet. 
Foxtons made a loss in profit during the full year, but an increased demand for renting due to a tough buyer market helped aid its balance sheet. 

London-listed estate agent Foxtons has confirmed it has acquired West London-based firm Douglas & Gordon for £14.25m.

It comes just a week after the FTSE firm confirmed it was in discussions to “reflect the company’s stated ambition to acquire high quality businesses with strong lettings books.”

Douglas and Gordon, which is run by former Foxtons executive James Evans, has 17 branches in London. It will continue to be run as a separate brand and with the existing management team in place, Foxtons said today.

“Douglas & Gordon is a business we have long admired and respected. Like us, it is a business with intimate
knowledge of the London market and a culture built around delivering results for customers making it an
excellent strategic fit,” Foxtons boss Nic Budden said.

The announcement follows Foxtons’ acquisitions of London Stone, Pillars Estates and Aston Rowe last year.

“We’re really pleased with the deal, and have great admiration for Foxtons as a business, brand and competitor. Our offer is complementary to theirs and we know that with their backing, the Douglas & Gordon business can go from strength to strength,” Evans said.