Dexters’ expansion programme continues with digital platform

The long-standing commitment of London-focussed agency Dexters to expand through acquisitions is continuing apace.

Over the weekend it was announced that the agency - now London’s largest - had acquired Howsy, a digital property management and lettings business.

The purchase, for an undisclosed sum, is described by Dexters as a key step in the implementation of its expansion strategy, alongside new office growth announced in 2021.

As a result of new partnerships with estate agents Roy Brooks, Douglas Martin, Peter James and Sebastian Roche, Dexters says its dominant market share in London has increased further. 

Andy Shepherd, Dexters chief executive, says: “In February 2021 we announced a strategy of growth through acquisition of competitors and expanding the group’s digital activities. This acquisition of Howsy marks a key step in the implementation of this plan. Increased digitalisation of our London lettings business using Howsy’s innovative 'smart tech', will help Dexters scale up our residential lettings service whilst maintaining our excellent property management and tenant care.”

The agency says that across both sales and lettings activities, it has maintained consistent growth, increasing revenue at an average 15 per cent per year over the last 10 years.

Howsy handles the property management of 6,000 units across the country. Dexters has some 70 offices across London and under the new deal Howsy will continue the management and links with its existing landlord clients, while sharing its technology with Dexters. 

Meanwhile Dexters will continue with its own extensive lettings portfolio - it works with over 30,000 landlords and facilitates more than 28,000 property transactions across London per annum.

In February 2021, Dexters announced a partnership and major financial backing from Oakley Capital with a growth strategy of opening further offices, acquisition of smaller competitors and also expanding the group’s digital activities in order to allow Dexters to deliver its services via multiple channels. 

Dexters’ portfolio of prime central London properties include sales from £2m to £35m and lettings from £1,250 per week to £30,000 per week.

Within its 70-branch network is has prime central London offices in Mayfair, Marylebone, Fitzrovia & Covent Garden, Westminster, Pimlico, Chelsea, Chelsea & Belgravia, South Kensington & Knightsbridge, Kensington, Notting Hill, Westbourne Grove and Hyde Park & Bayswater.