London based estate agent announces “impressive” growth with £147m revenue

DEXTERS, a London based independent Chartered Surveyor and Estate Agent, has continued its year-on-year growth in its 2022 Report and Accounts.

The estate agent announced a 3 per cent rise in revenue to £147.1m (2021: £143.3m 2020: £108.7m) with underlying operating profit of £37m (2021: £40.6m, 2020: £23.2m) broadly in-line with the previous year (2021).

DEXTERS highlights its “leading position” in the Capital’s estate agency sector as well as the continued expansion of its operations and “impressive” growth in share of the London property market.

DEXTERS say that the results of the current year have been impacted by significant investment in acquisitions, new office openings and increasing employee numbers through recruitment and training, especially in South East London.

Of the £147.1m of revenue, £79.5m was generated through DEXTERS lettings and property management business, £56.5m through sales and new homes activities and £11.1m generated from other professional advisory services.

The company continues to reinvest profits back into the business. DEXTERS has invested £29m in acquiring Marsh & Parsons, a business with 27 London offices.

New DEXTERS offices have opened in Tooting Broadway, Cricklewood, Muswell Hill, East Dulwich, Kentish Town, Wimbledon, Islington, Finsbury, Hendon, Wapping and Hackney Central, with a new office opening scheduled for Finchley shortly.

Due to new office openings and continued expansion plans, DEXTERS is recruiting in all areas of the property sector including fast track management opportunities.

In the financial year to September 30 2022, the average number of colleagues employed by DEXTERS increased by 195 including 86 new colleagues who were enrolled in the DEXTERS Academy apprenticeship programme.

In addition, 31 colleagues obtained ARLA qualifications and 3 colleagues achieved RICS qualifications. Across the company’s South-East London offices, the team size has doubled in the last 12 months due to investment for further growth.

CEO Andy Shepherd commented: “DEXTERS continues to be confident about the strength and future performance of the London property market.

“The London lettings sector is strong and experiencing high levels of tenant demand following the reopening of the economy after the COVID-19 pandemic, which is reflected in our latest figures, whilst the sales market has remained resilient, following a strong 2021 with the Government’s temporary stamp duty relief.”

By Matthew Neville – Senior Correspondent, Bdaily

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