WELL known Hampshire commercial property agent Neilson Holt has been sold to French-backed national group Atisreal, the Daily Echo can reveal.

The move is part of a strategy for Atisreal to become a "major player" in the region with a £5m turnover.

Meanwhile, Southampton and Fareham-based agents Young and Butt incorporating Holland Mitchell declined to comment on widespread rumours it is a target for a top ten UK property firm.

Director Matthew Small said: "I have no comment to make. The industry is full of rumours."

Atisreal said all nine Neilson Holt staff would be retained after the deal, taking its total at the Carlton Crescent to 31. Head of Atisreal's Southampton office, Stewart Cook said: "We have been keen to grow and develop our business with a view to becoming one of the major players in south Hampshire.

"The acquisition will increase our business from day one by 30 per cent with clear opportunities for growth."

Atisreal, an offshoot of France's biggest bank BNP Paribas, first came to Hampshire when it bought regional agents Chesterton last year.

Last month Atisreal bought national firm Fuller Peiser in a deal expected to propel it to eighth biggest agency in the UK, but the deal for Neilson Holt is part of a strategy to climb even higher up the rankings.

This year in Southampton Neilson Holt has arranged about 30 office lettings totalling 82,000 sq ft.

Mr Cook said: "There are clear ambitions nationally to get into the top five surveying practices in the UK. Being part of BNP Paribas, we are number one in France, Germany and Luxembourg. Delivering the ambition in the UK will be achieved through growth in our regional offices."

Russell Moggridge, chairman of the Southampton Property Association, said the deal was part of a pattern.

"They have clearly been looking to build their market share. We are finding that these national or global companies are extending their reach. We have seen Savills, King Sturge and Knight Frank all parachuting teams in. It is part of a trend."