£100m property agency's partnership to boost operations and market share
Mayfair estate agency Wetherell and London’s chartered surveyor and estate agent Dexters have partnered to enhance their prime central London operations and market share.
This is set to further boost Dexters’ £100m turnover estate agency business. The new alliance will provide Wetherell with marketing and operational resources to expand its lettings and property management business.
Over 55 per cent of Mayfair properties are currently rented and Wetherell plans to double the size of its lettings and management department to service this growing sector, drawing upon Dexters’ experience of working with 27,000 landlords across the capital.
The Wetherell name is not set to change and chief executive Peter Wetherell will continue to head up Wetherell’s Mount Street office offering Estate Agency services, promoting his vision of bringing residential life back to Mayfair.
Peter Wetherell said: “As an independent estate agency specialising in Mayfair for the last 37 years, I have been seeking a partnership that will provide Wetherell’s clients with a wider Londonwide branch network and staff resource to tap into, Dexters is the perfect choice.
“The partnership with Dexters will allow me to strengthen and grow the Wetherell business over the coming years. Lettings are our first priority and Dexters will be working with Wetherell to provide enhanced lettings services and property management support.
“Working together will allow for a strengthened brand presence across Prime Central London, greater market intelligence and resource sharing in order to meet our clients’ every need.”
He will join Dexters’ prime central London board as its new chairman, the PCL board representing 12 offices located in the capital’s most prestigious addresses, part of Dexters’ network of over 70 offices across London.
Wetherell will also leverage Dexters’ New Homes division and client base, which includes 100 developments currently being advised on or marketed, coinciding with Mayfair’s current building boom that will see over 500 new homes created, increasing the area’s population by 25 per cent.
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