Foxtons Group plc acquires London Stone Properties
Leading UK estate agency group Foxtons plc (LON: FOXT) has acquired the share capital of London Stone Properties Ltd and its subsidiary London Stone Property Sales Ltd.
A multi-branch estate agency, London Stone Properties is based in South East London, focused around Woolwich, Royal Arsenal, and Kidbrooke. The agency specialises in selling, letting and managing upmarket luxury apartments in the area, which has seen significant inward investment and rising consumer demand in recent years. BCMS advised the shareholders of London Stone Properties on the transaction, which completed in 2020.
A statement from Foxton’s explained the rationale behind the transaction: “The Directors believe the acquisition will fit well with our existing business model and branch network due to the high level of customer service and strong growth in landlords that London Stone has demonstrated over a number of years.”
This deal is one of a select number of BCMS-led estate agency transactions through the years, including the sale of Personal Homefinders to Countrywide plc.