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The Business Magazine July 2024
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Foxtons Group has acquired Haslams Estate Agents

The Business Magazine article image for: Foxtons Group has acquired Haslams Estate Agents
29 October 2024

Foxtons Group has announced the acquisition of Thames Valley-based Haslams Estate Agents.

The London group has bought the Reading-based form for an initial consideration of £7.6m with with £2.4m deferred depending on performance.

Foxtons has also acquired Watford-based Imagine Property Group for £5m with £1m deferred.

Haslams operates from three branches and is primarily focussed on Reading, with additional coverage of the nearby towns of Wokingham and Crowthorne through its Michael Hardy brand.

READ MORE: Haslams Surveyors to merge with Sharps Commercial to create Thames Valley commercial property powerhouse

Steve Woodford, Haslams Executive Chairman, said: "Having led The Haslams Group for over three decades, it was important to me for our buyer to be a custodian of our business, building on our existing successes and nurturing the exceptional expertise across the Group. Foxtons was the perfect fit and I'm looking forward to seeing how both businesses will excel after combining forces. With the ability to leverage the power of Foxtons' platform, I'm extremely confident the business will go from strength-to-strength."

Haslams' unaudited total revenue and operating profit for the 12 months ended 31 December 2023 was £6.5m.

Foxtons say the acquisitions expand Foxtons' network into the new complementary markets with Reading forecast to become the UK's fastest growing location by 20271.

Imagine operates from 3 branches and is focussed on the commuter town of Watford and its surrounding areas.

Imagine's unaudited total revenue and operating profit for the 12 months ended 31 March 2024 was £3.3m.

READ MORE: Thames Valley Property Awards 2024 Finalists announced

Guy Gittins, Foxtons CEO, said: "Our latest acquisitions add to our strong track record of identifying, acquiring, and integrating high quality lettings businesses to deliver attractive returns and are a key part of our strategy to deliver £25-30m adjusted operating profit in the medium term.

"We are delighted to have completed the acquisitions of Haslams and Imagine as we continue to pursue acquisitive lettings growth, to supplement our organic growth strategies. We have been impressed with the quality of both businesses which hold established leadership positions in their local markets and have built long-standing client relationships over many years, making them a great fit with Foxtons.

"Reading and Watford are new markets for Foxtons and reflects our confidence that the Foxtons Operating Platform, and in particular our technology, data and reach can unlock new growth opportunities in these new markets."


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Stephen Emerson is the Managing Editor of The Business Magazine and is responsible for the publication's print publications and online properties including the newly launched Biz News websites in Hampshire and Dorset.

Stephen has been a journalist for 20 years and has worked at local, regional and national publications and led a team which made The Scotsman website one of the fastest growing news sites in the UK with over eight million monthly users.

He has a keen interest in technology, property and corporate finance and telling the stories of the people behind the successful firms in these sectors.

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