Chestertons has announced its second acquisition in six weeks and third of the year.
The London agent has acquired boutique Chelsea agency Soames for an undisclosed sum.
Located on Old Church Street in Chelsea, Soames has been active in prime Central London since 1995 and has enjoyed a loyal client base with a focus on Old Chelsea.
The acquisition, which completed on 7 July, has seen Soames’ lettings business absorbed into Chestertons, which has operated in Chelsea for decades and has a branch on Cale Street and nearby branches in Fulham, Parsons Green, South Kensington and Knightsbridge.
The deal follows Chestertons’ acquisition of St Johns Wood agency Behr & Butchoff in May and a number of other purchases including Henry & James, Morgan Randall, London Residential and Snell & Snell.
Richard Davies, chief operating officer at Chestertons, said: “Chestertons has invested heavily in its people, systems and technology over the last few years to ensure that we have solid foundations that can support the substantial growth of the business. We have embarked on an exciting acquisition programme and are very happy to have been able to acquire some excellent businesses like Soames.”
Richard Jacobs, who has worked with Soames since 1999, will continue to assist with the business and is looking forward to working with the much larger and well-established agency.
Employing almost 600 staff, Chestertons has over 30 offices in London and an international presence, which has recently been bolstered by its exclusive partnership with Forbes Global Properties.