Savills’ investment management business is dwarfed by industry giants CBRE and JLL – but it is on the expansion trail.
Property advisory firm Savills has made clear its intention to expand its investment management platform, Cordea Savills.
In its annual results for 2013 the firm revealed it had taken the first step towards growing the business outside of its traditional European stomping ground by entering an agreement to buy Merchant Capital KK in Japan. The £300,000 deal for the Tokyo-based firm will add £250m to its £4.2bn assets under management when it completes in the second quarter of this year.
Rivals including BNP Paribas Real Estate and Knight Frank are focused on European growth, and DTZ Investment Management remains strong under UGL’s leadership.
But with others such as Cushman & Wakefield offloading their investment management divisions, does Savills stack up against market leaders CBRE and JLL?
Bridget.O’Connell@estatesgazette.com
