FPDSavills announced this morning that it has acquired Smith-Woolley Chartered Surveyors, one of the oldest land management practices in the UK, for £2.375m.
The deal follows the acquisition of Smith-Woolley’s rural asset management business in Norfolk in June last year. Of the total price, £750,000 is by way of a deferred payment.
Founded in 1777, Smith-Woolley has both consultant and resident land agents in place on some of the country’s most well known and historic rural estates.
The offices being acquired are: Oxford, Woodstock, Bath and Newark (Collingham), and include staff and departments specialising in commercial and residential agency, as well as farm management, planning, building consulting and facilities management.
Rupert Sebag-Montefiore, managing director of FPDSavills and Savills
director said: “This is an important move forward that reflects FPDSavills’ very strong commitment to expansion in property services in the UK. The transaction with Smith-Woolley gives greater depth to our land management business as well as the scope to provide clients with a range of well-developed support services through FPDSavills’ network of professionals in over 50 offices in the UK.
“Importantly, this is a very significant expansion of our Oxford business, with
some 52 staff joining our 80-strong office there. When combined with our local
offices the acquisition will also deliver the strongest multi-practice firm in
Nottinghamshire and Lincolnshire.”
References: EGi News 01/10/04
