CBRE has bought Scottish consultancy Dougray Smith, bolstering its investment and mixed-use development offer in the country.
Partners Chris Dougray and David Smith have run the business for almost a decade. The firm acts as a development, funding and investment adviser on large projects including offices, hotels, build-to-rent, co-living and student housing. The business also serves a wide range of developer, loan servicer and public sector clients.
Roles on high-profile deals include the sale of the Haymarket site in Edinburgh, the disposal of the 3.6-acre Candleriggs site in Glasgow city centre, the forward funding of two prelet hotels at Custom House Glasgow for around £80m and a 259-flat BTR development on Lionel Street in Birmingham.
Dougray Smith will be integrated into the CBRE UK advisory business, with Dougray assuming the role of executive director and head of development for Scotland and Smith becoming executive director and head of the Glasgow office.
Dougray said: “We are genuinely excited about the opportunities which joining forces with CBRE offers, both in Scotland and beyond as we utilise the premier global capabilities that CBRE can offer.”
Smith said: “Combining our expertise with CBRE’s market-leading Scotland business will enable us to offer a broader variety of services to both our long-standing and new clients.”
Ciaran Bird, CBRE divisional president of advisory services and chief executive for the UK and Ireland, said: “This is an exciting acquisition for our Scottish business, which will bolster our capabilities across a variety of sectors.
“Chris and David are leading professionals with a strong track record and deep client relationships, and it gives me great pleasure to welcome them to the firm. We have now completed three acquisitions this year, as we continue to enhance our services and secure the strongest talent in the market.”
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