Foxtons has reportedly agreed a deal to buy London-based rival Atkinson McLeod as it continues to expand across the capital.

Sky News reported last night that the deal, which is understood to be valued at less than £10m, is expected to be announced to the London stock market on Monday.

Atkinson McLeod, founded in 2002 by Giles Anderson and Dan McLeod, has offices in a handful of London locations including Canary Wharf, Kennington and Wapping.

Its takeover by Foxtons will be the latest in a string of acquisitions by the London-listed chain.

Foxtons, which disposed of the Douglas & Gordon sales business last month, is due to announce full-year results this week, with new chief executive Guy Gittins expected to reveal the outcome of an operational review of the business.

Foxtons prepares for a ‘more challenging’ housing market