London estate agent strengthens its hand with joint venture deal

London-based estate agent Dexters has strengthened its presence in the east of the capital after striking a deal with Stirling Ackroyd New Homes.

A joint venture between the two companies means that Stirling Ackroyd New Homes will trade as Dexters New Homes.

The partnership, which comes just days after Dexters acquired another London agent — Benham & Reeves — will cover east London, including Shoreditch, Clerkenwell, Hackney and Peckham.

It will combine Stirling Ackroyd New Homes’ knowledge of new homes in the east London market with the Dexters sales network and has been billed as a partnership, rather than an acquisition.

Stirling Ackroyd New Homes, which is a separate business to the Stirling Ackroyd estate agency, will continue to be run by Andrew Bridges and Nick Davies, alongside head of new homes sales Stephen Porter.

Bridges acquired majority control of Stirling Ackroyd New Homes in September 2017, following the death of Stirling Ackroyd founder James Goff.

The company deals in the sale of new build apartments in the capital, selling both off-plan and completed new build stock.

It also has a residential development team dealing with land opportunities ranging from brownfield sites to industrial buildings.

Goff founded Stirling Ackroyd in 1986 and by the time of his death, HMRC had lodged a petition get get the firm wound up.

That was later withdrawn and last year the rest of the Stirling Ackroyd business was sold to Nick Dunning Associates.

It trades as Stirling Ackroyd but is operated by TRSL Limited, of which Dunning is a director.

Bridges, managing director of Stirling Ackroyd New Homes, said: “This partnership will boost both companies, because it taps into the fundamentals of the capital’s property market.

“London needs a new wave of development for jobs, regeneration and growth – just as Londoners need support to find their perfect home.”

“In particular, London is shifting its centre of gravity eastwards.

“Growth for the entire capital is increasingly boosted by developers supplying much-needed new homes in places where there is greatest demand.

“Working with Dexters, we will be able to combine our long-standing expertise in these exciting sub-markets with the largest independent sales force and network of property experts in London.”

Andy Shepherd, CEO of Dexters, added: “New homes are a critical ingredient for London’s future success and are a vital part of our strategy as a business.

“To match accelerating demand from both buyers and prospective tenants, a healthy supply of new properties entering the market is fundamental.”

“This partnership will give our customers access to an even greater choice of properties and locations by adding to our existing new homes sales portfolio.

“For developers, our partnership provides the reassurance of reaching virtually all potential buyers and tenants in London.

“We currently have over 50,000 applicants registered looking for a property across London, for whom we arrange up to 45,000 viewing appointments a month.”


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