Foxtons swoops for Atkinson McLeod in latest lettings deal
The London-listed estate agent will announce the acquisition of Atkinson McLeod, the latest in a string of small purchases, on Monday, Sky News understands.
Mark Kleinman
City editor @MarkKleinmanSky
Sunday 5 March 2023 23:28, UK
LONDON – JULY 10: A Foxtons real estate agents shop is shown July 10, 2003 in London, England. House price growth slowed in June but the property market remains well supported, according to the latest survey from the Halifax with prices have risen by 21.9 percent over the past year. (Photo by Scott Barbour/Getty Images)
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Foxtons Group, the listed estate agency chain, is snapping up a London-based rival as it continues its assault on the capital’s lettings market.
Sky News understands that Foxtons, known for its distinctly liveried vans, has agreed a deal to buy Atkinson McLeod.
The deal, which is understood to be valued at less than £10m, is expected to be announced to the London stock market on Monday.
Atkinson McLeod was founded in 2002 by Giles Anderson and Dan McLeod, and has offices in a handful of London locations including Canary Wharf, Kennington and Wapping.
Its takeover by Foxtons will be the latest in a string of acquisitions by the London-listed chain.
Foxtons is due to announce full-year results this week, with new chief executive Guy Gittins expected to announce the outcome of an operational review of the business.
The former boss of rival Chestertons, Mr Gittins was appointed last year amid pressure on Foxtons’ board from a number of activist investors.
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A spokesman for Foxtons declined to comment.
