Colliers CRE has joined the rush for Irish business with the purchase of a 60% share in its international affiliate Colliers Jackson-Stops for €4.8m (£3.29m).
Colliers CRE already holds a stake in the Colliers office in Northern Ireland based in Belfast.
This new acquisition is designed to consolidate Colliers CRE’s position as one of the top real estate consultancy groups Ireland.
Colliers CRE managing director David Izett said: “We already enjoy an excellent relationship with our Colliers colleagues in the Republic of Ireland and the step we have taken today will enable us to benefit still further, particularly in light of the flow of Irish money into property in the UK and Continental Europe.”
Colliers Jackson-Stops, based in Dublin, provides commercial and residential property services including investment advice.
For the year ended 31 December 2005 it reported a turnover of €5.50m (£3.77m).
Following the transaction, the current management of Colliers Jackson-Stops will hold the balance of the business.
Colliers has also announced it is to pay £2m for Locum Consulting Group Ltd, the specialist consultancy practice for the destination sector.
Locum works with the owners, managers and developers of destinations ranging from regions and cities, through to artistic and cultural attractions, leisure parks and event venues to advise on strategies for both the private and public sectors.
In its last financial year, ending 30 September 2005, Locum Consulting had an annual turnover of £1.8m.
References: EGi News 14/06/06
