Marsh & Parsons, one of London’s most prestigious and well known estate agents, has been acquired by LSL PS Limited, a wholly owned subsidiary of LSL Property Services plc, (LSL) one of the leading providers of residential property services in the UK today.

The deal, worth £50m, will see no change to the existing management or staff structure of Marsh & Parsons who will continue to flourish as a separate business and brand with the investment and support of LSL. As such, existing clients and customers should see it as very much business as usual only now with the prospect that more Marsh & Parsons offices will become available to service their needs across London.

Chief Executive of Marsh & Parsons, Peter Rollings acquired the business in 2005 with fellow director Liza-Jane Kelly and investment from The Sherry FitzGerald Group, the leading Irish estate agency. Peter Rollings will continue to lead the business alongside Liza-Jane Kelly and other members of the Marsh & Parsons team with Sherry FitzGerald selling its entire shareholding in the company.

Marsh & Parsons success in London is clearly evident with the number of offices doubling in size in just six years and turnover increasing fivefold. Moreover, in 2010 it was the overall winner of the prestigious Sunday Times ‘National Estate Agency of the Year’ Award.Simon Embley, Chief Executive Officer of LSL commented:

“Marsh & Parsons presents us with a great opportunity to increase our presence in the busy central London market but also offers significant growth potential – not just in residential sales but also in the London lettings market. With Marsh & Parsons proven track record and expertise and LSL’s investment and support we believe we have a winning combination and the strong foundations on which to build and develop the brand in the future.”

Peter Rollings, Chief Executive of Marsh & Parsons added:““This acquisition is great news for Marsh & Parsons and both I and the entire management team are delighted with our new partners. As a well-respected London brand with a 150-year-old provenance we have developed into one of the most successful and progressive agencies in London. We feel this move will enable us to continue our development, increase our footprint further within the London marketplace and put further growth plans in place. We welcome the part LSL will play in this exciting new chapter in the company’s long history.”

Source: LSL Properties 4.11.2011

To celebrate the opening of their new Earls Court office, Marsh & Parsons will be offering customers in Earls Court a 0% sales fee for the first three months following the launch until the end of June. This is a drop from the standard commission of 2.5%, and will save customers in the area of around £22,500 per sale, on average.*

Marsh & Parsons has been selling and letting in the area since 1856, but now believe it’s time to offer an enhanced service with the new office in line with the growth in popularity of Earls Court.

Peter Rollings, Chief Executive of Marsh & Parsons, comments: "We’re delighted to be opening our new Earls Court office - our 6th office in the Royal Borough - and to mark its launch, we’re offering to sell our customers’ homes without charging a single penny in commission.

"We see Earls Court as a real area of growth which is undergoing huge regeneration. The proposed Sir Terry Farrell scheme to build 7,500 houses is likely to go ahead and we firmly believe this is the right time to open in Earls Court."

The new office, situated on the junction of Old Brompton Road and Earls Court Road, will be run by sales manager, Ian Barrett and lettings manager, Danielle Fearnon. Ian has been working in the nearby Notting Hill office for four years with a further four years prior experience in London agency, while Danielle has a wealth experience as a valuer with Marsh & Parsons in the Kensington & Chelsea areas.

Peter Rollings adds: "The new office is part of our ongoing expansion plans and perfectly complements our existing network of 15 London offices. It’s situated in the heart of an area which has excellent communication links, world class shopping facilities and stunning architecture. We firmly believe that this is an area that will continue to grow in popularity."

*Average selling price in Earls Court according to Land Registry is in excess of £908,000.

Marsh & Parsons is opening a new office in Brixton. The office on Coldharbour Lane SW9 will be fully operational from Monday 16th January 2017.

To celebrate the opening, Marsh & Parsons will be offering homeowners in the area a special 0% sales fee until Friday 7th April 2017. This is a significant discount from the standard 2% commission charged on a sole agency basis (2.5% joint sole; 3% multiple).

David Brown, Chief Executive at Marsh & Parsons, said: “Marsh & Parsons is a highly respected, award winning estate agency with 28 existing branches across south west and prime central areas of London and we’ve been a key player in London’s property market since 1856. We’re delighted to further strengthen our reputation and presence by opening in Brixton.

"Our 0% sales commission campaign is designed to offer property owners a taster of the exceptional customer service and results we're able to deliver in the hope they'll tell their friends all about us. Historically, it has been a great way to introduce ourselves to a new neighbourhood and having already been a part of the local property scene for a number years, via our surrounding offices in Clapham, Balham and Tooting, we're really looking forward to meeting many more buyers, sellers, landlords and tenants when we open our doors in the New Year.”