Leaders Romans Group has agreed to buy Hose Rhodes Dickson, a residential sales and lettings business on the Isle of Wight, although the company is unable to publicly confirm it at this stage.

It is understood that Hose Rhodes Dickson will become part of the estate agency giant next month.

Hose Rhodes Dickson, founded 32 years ago by Jeff Hose and Mark Rhodes, in Ventnor, has eight offices across the island.

The company currently operates in Newport, Cowes, East Cowes, Ryde, Bembridge, Shanklin, Ventnor, Freshwater, and Bembridge.

Staff at the company were informed of the takeover yesterday.

This will be the second acquisition for the estate agency group since the recent purchase of LRG by Platinum Equity.

A spokesperson for LRG told EYE this morning: “We have ambitious plans for growth here at LRG and core to that is our acquisitions strategy. As such, we welcome discussion with a range of businesses and brands in the property sector that express an interest in working with us.

“At this stage we are unable to confirm any acquisition as these matters are subject to the exchange of contracts.

“We remain transparent in our operations and are happy to share news of any future acquisitions when they complete.”

LRG acquired Northfields, a London-based residential lettings and sales business, in early March.

Leaders Romans Group buys four-branch agency Northfields