Dexters has announced a new partnership with Mayfair estate agency Wetherell.
The union is expected to “enhance” both agency’s Prime Central London operations and market share, as well as boost Dexter’s £100m sales turnover.
It will also provide Wetherell with access to “unrivalled marketing and operational resources”, allowing it to expand its lettings and property management business.
Wetherell said it hopes to double the size of its lettings and management department amidst a growing sector of rented properties in London, as well as draw upon Dexter’s experience of working with 27,000 landlords in the city.
Chief executive of Wetherell, Peter Wetherell, will continue to lead the agency’s Mount Street office and “promote his vision of bringing residential life back to Mayfair”.
He will also join Dexter’s Prime Central London, which represents 12 offices across London, as its new chairman.
Wetherell will also leverage Dexters’ New Homes division and client base, which includes current 100 developments, in light of Mayfair’s current “building boom” of 500 new homes.
Wetherell said: “As an agency specialising in Mayfair for the last 37 years, I have been seeking a partnership that will provide Wetherell’s clients with a wider Londonwide branch network and staff resource to tap into, Dexters is the perfect choice.
“The partnership with Dexters will allow me to strengthen and grow the Wetherell business over the coming years.”
He added: “Lettings are our first priority and Dexters will be working with Wetherell to provide enhanced lettings services and property management support.
“Working together will allow for a strengthened brand presence across Prime Central London, greater market intelligence and resource sharing in order to meet our clients’ every need.”
Jeff Doble, chairman of Dexters, said: “We are delighted to be working alongside Peter. Dexters have 35 offices in central London and currently have 80,000 customers looking for a London home.
“We are particularly strong in corporate lettings and International relocation, as well as first class property and building management. We are committed to help Peter grow his business and have an initial five year plan to work increasingly closely.”
He added: “It can be hard work running an independent business nowadays and we have the resources to free up Peter and his team, so they will have more time to focus fully on their clients and their property.”