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DDB Pitmans advises on Haslams sale

11 Nov 2024Announcements

BDB Pitmans advises Haslams Estate Agency on its £10 million acquisition by Foxtons, expanding Foxtons' Thames Valley presence

BDB Pitmans has successfully represented Steve Woodford, the executive chairman and primary shareholder of Haslams Estate Agency, in the sale of the Thames Valley-based estate agency to Foxtons. The deal, valued at a total consideration of £10 million (£7.6 million initially with a further £2.4 million deferred), strengthens Foxtons' footprint in the Thames Valley region, a strategic market for the firm.

Haslams is one of the largest and most prominent estate agencies in the Thames Valley, operating from three branches and two well-known brands: Haslams Estate Agency in Reading and Michael Hardy in Wokingham and Crowthorne. In parallel with this acquisition, Foxtons has also acquired Imagine Property Group Ltd, expanding its presence in Guildford and Woking.

The acquisition aligns with Foxtons’ strategy to broaden its portfolio by acquiring high-quality sales and lettings businesses across the UK. Completed on October 29, the deal was finalised just ahead of the anticipated October Budget. Leading the BDB Pitmans team was Corporate Partner Stephanie Perry, supported by Lauren Anscombe. Tax advice was provided by Partner Philip Alfandary, and Senior Associate Victoria Moss handled real estate matters. Foxtons received legal counsel from Dean Wilson in Brighton.

Stephanie Perry commented, “This was an important deal for Steve, who has grown the Haslams brand over many years. We are delighted to have assisted in achieving completion on an accelerated timeline.”

Reflecting on the sale, Steve Woodford, Executive Chairman of Haslams, said, “Having led The Haslams Group for over three decades, it was essential to find a buyer who would act as a custodian for our business. Foxtons was the perfect fit, and with its powerful platform, I am confident the business will continue to grow. My thanks to Stephanie and the BDB Pitmans team for their efficient handling of this transaction.”

This acquisition marks a continued period of expansion for Foxtons, as it strategically invests in key regional markets through established brands like Haslams.

Legal News desk contact: editorial@solicitorsjournal.com

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