London estate agency Foxtons has acquired London Stone Properties (London Stone) a well-established independent lettings, property management and residential sales agent based in Woolwich, London.
Foxtons said the transaction, believed to be worth around £2.2m, demonstrates the company’s “commitment to further expanding its lettings business”.
Chris Beckwith, director of lettings acquisitions at Foxtons, said: “London Stone has a strong track record in lettings, a reputation for excellent customer service and committed knowledgeable people. It is a business we have long-admired and we are looking forward to welcoming them to the Foxtons group.
“London Stone has an attractive lettings book and will give Foxtons a wider presence in the dynamic south-east London market. Growing our lettings business is a strategic focus for the Group and, over the medium term, we hope to find other similar high-quality businesses.”