Thu, 24 Sep 2026 | BUSINESS SALE
London-based estate agency group Foxtons has expanded with four regional estate agency acquisitions as it seeks to boost its presence beyond the capital. The firm has acquired Birmingham-based Maguire Jackson and Davidson Estates, Watford-based Warren Anthony and a lettings portfolio in Reading.
The acquisitions were completed for an initial consideration of £4.8 million on a cash and debt-free basis, with an additional £1.2 million of deferred and contingent consideration related to performance.
The deals, which were funded through Foxtons’ revolving credit facility, are expected to produce gradual earnings for the group from FY2027 onwards, while delivering returns on invested capital in line with its 20 per cent target as post-deal synergies are achieved.
The acquisitions aim to increase Foxtons’ scale across Birmingham, Watford and the Reading area. The enlarged businesses are expected to support additional bolt-on acquisitions, as well as further organic growth.
The additions of Maguire Jackson and Davidson Estates build on Foxtons’ existing Birmingham presence, with the group having entered the city for the first time in January 2026 with its acquisition of FleetMilne.
Foxtons has identified Birmingham as a key market with strong long-term potential and the two latest acquisitions, which see the group add a pair of well-established single-office lettings businesses, increase its scale in the city and demonstrate the progress of this strategy.
Maguire Jackson adds scale in central Birmingham. Established more than 22 years ago, the firm is one of the city’s longer-standing specialist city centre residential agents and the deal expands Foxtons’ presence into Edgbaston, one of its highest-value residential markets.
Watford-based Warren Anthony will be integrated into Foxtons' Watford platform, formerly Imagine Property Group. In the Reading area, the acquired lettings portfolio will be integrated into the group's existing network, strengthening its position in a high value commuter market.
Foxtons Chief Executive Guy Gittins said: "We entered the strategically important Birmingham market earlier this year, establishing a foothold in the UK's second largest city and creating a hub from which to grow across the wider region.”
"The acquisitions of Maguire Jackson and Davidson Estates demonstrate the progress we are making to build scale in Birmingham, a city with strong long-term fundamentals, a growing economy, excellent connectivity and a deep, resilient rental market.”
"Later this year, we'll bring our Birmingham operations together under the Foxtons brand, as we build our presence outside of London. Our brand and industry-leading operating platform have been key drivers of growth, and we see a significant opportunity to build further scale in the region.”
Gittins continued that the acquisitions in Watford and Reading build on its successful integrations of Imagine Property Group and Haslams over recent years.
He added that the group continues to see “a strong level of acquisition opportunities and remain focused on high-quality, lettings-focused businesses that strengthen our existing operations, grow recurring Lettings revenues and deliver attractive returns for shareholders."
Discover what's driving high levels of consolidation in the UK estate agency market
This five-star vehicle centre in North London presents an exceptional opportunity with its prime location and well-established customer base.
The company provides a complete range of commercial and domestic arboricultural and vegetation management services across North West England, as well as offering firewood and associated products for sale.
This award-winning, multi-trade contractor, based in Scotland, offers a unique opportunity to acquire an established business with a strong presence in plumbing, heating, and renewable energy installations for domestic and commercial clients.
Looking for more businesses? Try our off-market tool.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.