Dexters secures new investment and plans more estate agency branches and hiring spree

Dexters, London’s largest independent estate agency, is set to go on a hiring spree and open more branches after securing new investment from a private equity firm.

Oakley Capital has agreed to invest an undisclosed sum in the chain which was founded by Jeff Doble in 1993 as a single branch in Twickenham. The Dexters management team will also invest.

Today Dexters has 87 branches and it is looking to expand that to over 100 over the next three years.

The company also plans to hire 400 more employees, adding to its existing 1200-strong full-time workforce.

Oakley Capital, founded by serial entrepreneur Peter Dubens, is an investor in Time Out and has backed online real estate classifieds businesses such as Casa.it in Italy.

New backing comes after a strong second half for the estate agency sector. Lockdown restrictions for the housing market eased in May last year, and there has been pent-up demand for moves. A stamp duty holiday has also enticed buyers.

Doble, chairman of Dexters, said: "Despite the challenges of Brexit and Covid-19, Dexters has continued to build market share and presence across London.”