Dexters buys rival estate agent Marsh & Parsons for £29m

LONDON estate agency Dexters have snapped up rival Marsh & Parsons for £29 million in what it claims will be London’s biggest chain.

The takeover will create a network with 150 offices, 2000 staff and handling £5 billion of deals a year.

Marsh & Parsons, which was sold by property services group LSL, was founded in 1856, making it one of London’s oldest estate agencies.

The estate agent has 30 offices mainly in central London and is known for its eye-catching advertising campaigns, left.

Dexters said the brand will be retained and the number of branches doubled over the next few years.

The deal came as one of Dexters’ biggest rivals, Foxtons, reported revenues grew last year by 11% to £140 million but warned of a “more challenging” first half to 2023.