Chestertons has quietly taken down the For Sale sign over its company.

The firm went on the market last July for a price rumoured to be over £50m.

The move followed the split in February of London-based Chestertons from Humberts, which operates outside the M25.

Interested buyers were rumoured to be private equity firms and rival estate agent groups.

But this week, Eye learned that the sale is no longer going to happen.

A trusted source told us that there would be no official announcement, but that the decision had been made not to pursue a sale.

We understand that “good” offers were indeed made but that it had been decided to stick with the business and concentrate on its growth.

Chestertons and Humberts are owned by Mercantile Group. Chestertons was rescued from administration in 2005 and merged with Humberts in 2009.

News that any sale is now off comes as Chestertons, which has 30 London offices, forges ahead with international expansion.

Monaco based real estate agency Monaco Villas is the latest company to associate with Chestertons.

Trevor Gabriel, managing director of Monaco Villas, said: “Monaco is a very attractive place to live not only for tax reasons but for security, lifestyle and access, and the association with Chestertons allows us to establish better links with overseas clients looking to move here.

“Equally our high-end investor clients tend to have multiple homes and are often interested in buying in London, France and other countries now served by Chestertons.”

Robert Bartlett, Group CEO of Chestertons, said: “Monaco, being one of the world’s pre-eminent destinations, is a valuable part of our international associate network, and we look forward to working with Monaco Villas in the cross-referral of business.

“It represents an important addition to our expansion plans and ties in well with both our existing network and the recent openings in the Cayman Islands, Marbella, Toronto and the Middle East.”