Foxtons has announced the completion of four lettings-focused acquisitions as part of its ongoing expansion strategy outside of London. Birmingham is identified as a key area for further growth.
The group has acquired Maguire Jackson and Davidson Estates in Birmingham, Warren Anthony in Watford, and a lettings portfolio in the Reading area. These deals will see Foxtons pay an initial £4.8m, with an additional £1.2m in deferred and contingent consideration possible, depending on performance. The acquired businesses had a combined unaudited revenue of £3.2m in their most recent financial years.
These Birmingham acquisitions significantly increase Foxtons' presence in the city, following its entry into the market in January 2026 with the acquisition of FleetMilne. Maguire Jackson adds a city-centre lettings operation, while Davidson Estates extends the group's reach into Edgbaston. Foxtons plans to consolidate its Birmingham operations under the Foxtons brand later this year.
Further deals include Warren Anthony becoming part of Foxtons' Watford operation, which previously incorporated Imagine Property Group. The Reading portfolio will join Foxtons' existing operations in that area, where it had previously acquired Haslams.
Foxtons expects these four acquisitions to contribute to earnings from 2027 and aims for a 20% return on invested capital once planned synergies are achieved. The company stated it retains funding capacity for additional acquisitions and continues to seek lettings businesses that can be integrated into its existing operations.