GVA Grimley has taken over shopping centre management firm ACR Commercial Property.
The 19-strong team at ACR will work alongside GVA Grimley’s retail services team.
ACR will move into GVA Grimley’s Stratton Street office in London’s West End in April.
The merger is the fourth for GVA Grimley in the last 18 months.
It has already joined forces with niche City practice Chapman Swabey, West End company Saxon Law and project management business Second London Wall.
GVA Grimley chief executive Michael Corbett said: “We had targeted ACR as a merger prospect in view of the very complementary nature of their business which we always felt would dovetail nicely as part of our retail growth.”
Chris Mackaness, head of retail at GVA Grimley, said: “We decided to buy ACR because we wanted to get into shopping centre management and they are the biggest independent player. Shopping centres are a big focus for us and shopping centre management has been a big target for us.”
ACR partner Gary Hale added: “We are very excited about the merger with GVA Grimley and the unique opportunity this provides to grow the shopping centre management business.”
GVA has been trying to get into shopping centre management since its failed merger with Donaldsons in 2002.
ACR is ranked fifth in major shopping centre instructions with more than 6.3m sq ft under management.
References: EGi News 03/02/05
