Foxtons has announced the acquisition of Watford lettings business, Marshall Vizard, as the agency marks another important step in its strategy to expand footprint in key commuter towns.
This is Foxton’s second acquisition in the commuter town of Watford, adding around 600 tenancies to its portfolio, and comes just four month after the agency completed two commuter town acquisitions (Reading and Watford) for an initial consideration of £12.6m.
The acquisitions are earnings enhancing and unlock new organic and inorganic growth opportunities, according to Foxtons.
The rapid integration of the new Watford hub has enabled the further acquisition of Marshall Vizard. This bolt-on acquisition is expected to generate strong synergies and reinforce Foxtons’ leadership position in the Watford lettings market, the agency said.
Guy Gittins, chief executive officer, said: “In October 2024, we acquired Haslams Estate Agents and Imagine Property Group, both businesses with strong lettings portfolios, taking us into the exciting new growth markets of Reading and Watford. Last week, as part of our Watford growth plan, we acquired Marshall Vizard, a high-quality lettings business that further strengthens Foxtons’ Watford presence and market share.”
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