The acquisition captures what The Daily Telegraph described as a “jewel in the crown” and will give LSL an upmarket presence in the central London market – and an opportunity to challenge the likes of Foxtons and Knight Frank.
Marsh & Parsons is headed by former Foxtons managing director Peter Rollings after he bought the company for £5m in 2005.
Marsh & Parsons will continue to operate independently within the LSL Group following the transaction.
Roger Matthews, chairman at LSL Property Services, said: “I am delighted to announce the acquisition of Marsh & Parsons which has an excellent geographic and strategic fit with LSL.
“This is a unique opportunity for LSL to acquire a premium central London estate agency brand and to gain a high quality and experienced management team with a great track record.
“We look forward to working with Peter Rollings and his team to deliver the next stage of growth for Marsh & Parsons.”
