Trust Property Management Group, an alternative investment market-quoted property and chartered surveying services group, is to buy chartered surveyor Dexter Brown in a deal valued at £1.5m.

The agreement has two components: 3.68 million new ordinary shares of the company, and £800,000 in cash.

The acquisition is in line with Trust Property’s strategy of creating a fully integrated property services company.

Dexter Brown, in Milton Keynes, Buckinghamshire, has a turnover of more than £1m a year. It specialises in commercial property management services including asset and property management and investment.