AFTER more than a year of talks, estate agents, Dreweatt Neate and Carter Jonas, have finalised a deal to join forces.

In a bid to create a stronger brand amid the property market woes, they have merged with an agreement that the enlarged business will take the Carter Jonas name.

The move marks the end of the 250-year history of Dreweatt Neate, which was founded in Newbury in 1759 by Thomas Davis.

The new firm will have a combined turnover of £30m, with more than 75 partners and 400 staff working in 31 offices, including branches in Winchester, Andover and Basingstoke.

Staff are being consulted over restructuring plans as the deal will create some overlap, although no offices are expected to close, according to a Dreweatt Neate spokesman.

The two firms have been in discussions since last year and were thought to have been close to agreement in the summer as the housing market troubles escalated.

Mark Granger, chief executive of Carter Jonas, will lead the combined firm under the same title, while chairman, John Henniker-Major, will also continue to head the board of the group.David Smith, of Dreweatt Neate, remains as senior partner.

Carter Jonas has 20 offices largely operating out of London, but also covering the North, the East, central England and Wales while Dreweatt Neate is based in the South.