Dexters is close to adding 60 new branches to its fast-expanding London network, with a major deal that would further strengthen its position in the capital.
EYE has been informed by a well-placed source that Dexters, which now operates 155 offices across London, has agreed a deal to buy Kinleigh Folkard and Hayward (KFH), which employs over 900 people in more than 60 branches in the capital.
The deal would significantly increase Dexters’ share of the London property market through all its business divisions.
In February last year, 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 has maintained consistent growth, increasing revenue by 14% per year over the last 10 years.
The company recently announced the purchase of LiFE Residential, a multi-national estate agency specialising in lettings, property management and new homes sales with a network of eight offices in strategic locations across London, as well as Asia offices in Singapore and Hong Kong.
The acquisition of LiFE Residential further strengthened Dexters’ position as a leading agency in London and gives the business a footprint in Asia.
EYE approached Dexters for comment last night. But the company refused to be drawn on the KFH speculation.
When asked about a potential deal to buy KFH, a Dexters spokesperson replied with a firm “no comment”, adding that the company as policy always declines to comment on corporate financial speculation and matters of this nature.
Watch this space!
Leaders Romans Group agrees deal to buy 31-branch estate agency giant
Not good for buyers and sellers. There needs to be some competition in the market.
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Lol .. they aren’t rightmove
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WHAT????!?!
There is sh9tloads of competition in London!
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This is a wholly untrue article. I can only imagine it’s been written to be disruptive and extremely unhelpful.
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We shall see. I’d say that Eye is very cautious about publishing these sorts of stories / rumours and has generally been proved correct.
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Like when Dexters were buying Chestertons. 100% correct on that one!
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At a time when transaction numbers are looking to be falling, not a good time to be borrowing money to purchase competitors. Unless you are buying a strong letting portfolio as well.
But perhaps a question is why would the seller be selling?
I have no real knowledge of either of these businesses but slightly surprised at the amount of expansion going on at the moment.
Either prices for going concerns are cheap at the moment, or someone knows something I don’t!!
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This article is false. Whoever this person’s “source” is, they need to verify them before publishing an article based on rumour.
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Where is your proof then?
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Dexters already has towns/areas where they have more than one branch. Buying KFH would give them up to 3 branches in some towns. Seems a bit bonkers.
But IMHO Dexters don’t have a very good brand name. Would be a better move to rebrand all the branches to KFH rather than the other way around.
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Whenever there’s a rumour that Dexters is about to do a takeover, it’s usually true.
If Dexters are buying, you can be sure they’ve got themselves a great deal (and they know exactly what they’re doing).
Dexters = Foxtons on Steroids
Love ’em or hate ’em, Dexters are an amazing success story.
There endeth my ramblings.
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Utter nonsense, typical “Dexter’s drivel” as they’re known for in the market
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