London estate agency chain Dexters has added another business to its growing empire, after its acquisition of Benham & Reeves.
The deal for Benham & Reeves, which has has four offices in north London, in Hampstead, Highgate, West Hampstead and Dartmouth Park, is for an undisclosed sum.
The four offices will rebrand to Dexters “in due course”, the agent said.
It means Dexters’ network of branches numbers more than 60 sites, including 28 in central London.
Meanwhile, Benham and Reeves Residential Lettings, which has 16 offices in London and five overseas and has operated as a separate business for years, after a family feud and ensuing court case, has bought the rights to the Benham & Reeves name.
The business has the rights to use the Benham & Reeves name for sales in the future.
Benham & Reeves managing director Jon Hughes told EYE: “We’re absolutely delighted with this.
“It has never been an ideal situation for either of us — Benham & Reeves or Benham and Reeves Residential Lettings — so they have bought the name and they will in due course be able to do sales and lettings.
“The name has been split for decades now so it’s good news for everyone.”
Nearly two years ago, Dexters spent £18m on a rebranding exercise and a number of acquisitions.
As part of the process, it ditched the names of around 20 brands – including Brian Lack and Beaney Pearce.