Foxtons snaps up two agencies as part of £4.8m deal
London estate agent Foxtons says Birmingham’s “long-term potential” is behind the acquisition of lettings agents, Davidsons and Maguire Jackson.
The two agencies were snapped up as part of a £4.8m deal which also saw the firm take on two portfolios in Watford and Reading, and comes on the heels of the firm’s entry into the Birmingham market with the acquisition of FleetMilne in January.
The firm says the city is a “strategically important” hub for future deals, citing the arrival of HS2 and a youthful population as key factors behind a continuing push in the West Midlands.
Guy Gittins, chief executive, said the scale of the city’s ongoing regeneration projects gave it “strong long-term potential”.
“Maguire Jackson and Davidsons Estates are both brilliant businesses and we’re looking forward to having them join the Foxtons team as we build our presence in the UK’s second city,” he said.
“We believe Birmingham is one of the most exciting property markets in the UK, with exceptional long-term growth potential. Having already built a market-leading position in central Birmingham, we now see significant opportunities to broaden our footprint across the city, particularly in the lettings market, where customer demand and growth prospects remain highly attractive.”
Established more than 23 years ago, Maguire Jackson is one of Birmingham’s most established specialist city centre residential agents, while Davidson Estates is a multi-award-winning business based primarily in Edgbaston.
“The central Birmingham property market has evolved massively in recent years and we now look forward to adding the Foxtons expertise, which will help vendors & landlords alike to get the very best out of the market,” said Phillip Jackson, director at Maguire Jackson.
