Legendary agent Peter Wetherell joins forces with rival Dexters

Legendary Mayfair estate agent Peter Wetherell has entered into a lettings partnership with competitor Dexters designed to make the two businesses the dominant players in the London property management market. Peter’s business Wetherell has held sway over the Mayfair prime and super-prime market for nearly 40 years while Dexters is London’s largest independent estate agency with 70 branches across the capital servicing 27,000 landlords. Peter is to become chairman of Dexters’ Prime Central London business which includes the company’s 12 offices operating in the capital’s most upmarket areas. In return Peter will give Dexters access to his agency’s prestige brand and lettings and property management experience. And Peter is also to become a ‘visiting professor’ at Dexters large training academy in Pimlico. The deal reflects the tough trading conditions in central London; Wetherell is in effect taking refuge from the wintry business environment in the prime sales market by boosting its rental and property management reach from within the Dexters network. It hopes to double the size of its lettings department over the next five years following the partnership. “It can be hard work running an independent business nowadays and we have the resources to free up Peter and his…