In the second confirmed acquisition of the day, Property Industry Eye has learned that Dexters has acquired Roy Brooks estate agency in East Dulwich.

Directors Felicity Blair and James Edmonds will be stepping down from the company after the takeover.

However, Blair has confirmed that all members of staff will be carrying on in their existing roles at Roy Brooks.

Felicity Blair and James Edmonds told EYE in a joint statement: “After 20 years spent finding and growing the finest team in SE London, it’s going to be a real wrench to break with them, but it’s also good to recognise, when you reach a certain age, that there are challenges outside the property world that beckon and that you want to try, and that’s what we’re going to do.

“We are pleased to be passing the baton on to Dexters who we know appreciate our history, ethos and staff, and we feel sure the company will flourish under their leadership. We hope Roy Brooks would have approved too.”

Roy Brooks became one of the most famous estate agents in Britain during the the fifties and sixties thanks in part to his amusing property descriptions. He hung out with TV celebrities and was the go-to agent for London’s elite and even royal clients.

His property descriptions really were so funny and highly popular that the broadsheets printed them for free. He was routinely invited onto television chat shows and partied with the ‘it’ crowd.

If a buyer wanted to make an offer on something already agreed to be sold, Brooks insisted the gazumper sign a piece of paper which read, “I’m about to be a *%&!. This is not the agent’s fault.” He died in 1971.

Andy Shepherd, CEO of Dexters, said: “We have long been an admirer of this iconic business and it’s talented staff, who we very much look forward to working with.”

He added: “We are committed to helping to grow Roy Brooks estate agents and have an initial three-year plan to work closely in strengthening and expanding the business. We have the resources to free up the local offices so they can focus fully on their clients and their property.”

The acquisition of Roy Brooks estate agency is the first by Dexters since Oakley Capital, a mid-market private equity firm, invested in the company.

Sources have said that Oakley Capital are planning to invest tens of millions of pounds, although the total investment figure has not yet been confirmed.

EYE was told last month that ‘via Oakley Capital the estate agency will have access to very substantial financial backing’.

Oakley Capital have invested an initial £13m into Dexters, and this is part of a planned series of investments into the company.

This investment will be used to facilitate a major expansion drive by Dexters which will include expanding the firm’s branches from the current 70 across the capital, including 12 in prime central London, to over 100 branches over the next three years.

Dexters also plans to recruit an additional 400 new members of staff during that period, adding to the existing 1,200 full-time staff.

Jeff Doble, founder and chairman of Dexters London Limited, commented: “Our vision has always been to be the number estate agency in London and as we look to move to a new level, we have decided to partner with Oakley Capital to help us work towards our ambitious long term plans.”

Peter Dubens, managing partner of Oakley Capital, said: “The company’s focus, drive and spirit of collaboration has delivered performance where others in the sector have faltered. We look forward to being a part of Dexters’ next phase of growth, contributing our proven expertise in M&A and digitisation, and drawing on our experience in the property sector.”