Lambert Smith Hampton has been put up for sale by its owner Countrywide.
The commercial property adviser, which was acquired by the listed estate agent in 2013, is being offered to the market through Deloitte.
Last month Countrywide issued a profit warning due to its core residential estate agency business being affected by changes in stamp duty and uncertainty as a result of the EU referendum. The business is now looking to focus on its core business and a sale of LSH will generate valuable proceeds during a tough trading period.
It is understood that it is hoping to strike a quick deal next month, with the most likely outcome a sale to private equity rather than to a competitor.
LSH set out on an aggressive expansion plan when it was bought by Countrywide and has since bought six businesses, including Tushingham Moore, BTWShiells, ES Group and Douglas Newman.
The company, led by chief executive Ezra Nahome, has a regional, public sector and professional services focus. It employs more than 1,200 people across 35 offices.
LSH was bought by Countrywide from Sankaty in a pre-pack administration deal. Sankaty had taken control of the company through the acquisition of a loan portfolio bought from Lloyds Banking Group.
All parties declined to comment.
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