Spicerhaart has set aside £26m to acquire more estate agencies across England and Wales.

It has done so in the face of retrenchment by the likes of Countrywide.

Spicerhaart has also totally refuted speculation that it is looking to downsize.

The company instead said it is looking to infill in areas where it currently operates, as well as acquire branches in areas where it has no presence.

Areas where it is particularly looking for acquisitions include the south coast, Yorkshire, Manchester, London, Bristol and the west midlands.

Chief executive Paul Smith said: “We are looking for profitable estate agencies, including those with lettings divisions, in order to grow our business, and we invite owners to contact us if they feel their agencies fit the bill.

“We have an excellent track record of acquiring businesses over the years, recognising the importance of looking after the people who work there and making them feel part of our family.

“We don’t behave like a large ruthless corporate but always have the interests of the existing staff in those branches at heart.

“When owners choose to sell to us, they know their teams will be well looked after and given opportunities to develop their careers within our organisation.

“We feel this is also a ringing endorsement of the traditional estate agency model in the face of fierce expansion in the online market.

“The public are increasingly becoming wise to the fact that the online agents just aren’t as good at selling their properties as traditional agents.

“We firmly believe there is a place for well-run local estate agents, continuing to do business face-to-face when people choose to sell their most valuable asset, their home.”

Companies acquired over the years include Woolwich Property Services which became haart, part of Cornerstone from Abbey National, Darlows in Wales and Haybrook in South Yorkshire.

Spicerhaart also runs Felicity J Lord in London and upmarket brand Chewton Rose.