Carter Jonas has bought Midlands industrial agency McGuinness Waddington Real Estate.
The acquisition will see MWRE founders Nick Waddington and Adam McGuinness join Carter Jonas as partners, as Carter Jonas builds up its commercial presence in the region and strengthens its national transactional capacity.
The duo has more than 45 years of combined experience, working on deals including Amazon taking 411,613 sq ft at Magna Park, Asos taking a 437,054 sq ft lease at Fradley Park, and the disposal of 580,000 sq ft at M&G’s Imperial Park scheme in Coventry.
Scott Harkness, head of commercial at Carter Jonas, said: “It is a pleasure to be joining forces with Nick and Adam as we welcome them to our growing team. Recognised as leaders in their field, we seized the opportunity to attract them to join our industrial team. Both Nick and Adam have played a key role in shaping the landscape of the region’s industrial market and are renowned for their expertise and personable approach.”
Having co-founded MWRE in 2015, Waddington previously led the national industrial and logistics team at BNP Paribas Real Estate. This followed positions at CBRE, Knight Frank, Holley Blake and Gerald Eve where he first dabbled in the Golden Triangle and the wider Midlands industrial market.
McGuinness held roles at JLL and BNP PRE. Acting on behalf of landlord and occupier clients to dispose of and acquire existing and new build/development stock, his experience has expanded into various active regions outside of his core Midlands market, where he is considered one of its top agents.
The pair will be based out of Carter Jonas’ Birmingham office at Two Snowhill, working alongside Caroline Penn-Smith, who joined the firm as a partner in 2018 to expand its commercial operations in the Midlands.
Waddington said: “After six phenomenal years MWRE had reached a natural crossroads much sooner than Adam and I had expected, with the approach from Carter Jonas coming at an opportune time. We believe this is a natural fit for the two businesses in terms of our respective client and land relationships, which we will work to further expand the Carter Jonas commercial agency offering.”
McGuinness added: “Nick and I are looking forward to joining the Carter Jonas team and will be working to unlock opportunities for both our existing and new clients not only in the Midlands but throughout the UK. The industrial and logistics sector continues to outperform the rest of the UK property market and there appears to be little sign of this changing in the near future. Availability of land is going to be key and we feel we are now even better placed to service this demand.”
Harkness said Carter Jonas would continue to buy the best talent. “Despite the challenges of the last two years, we see investment in people and our ability to deliver a stronger and broader commercial service offering for clients nationally as key to our future success.”
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