CBRE has bought niche residential development consultancy, sales and lettings agency Alan Selby & Partners.
The firm focuses on the London Docklands market, including Canary Wharf, and the City of London. It will become part of CBRE’s residential business under the leadership of chairman Mark Collins and managing director Lisa Hollands.
It will continue to operate from its office at 22 Westferry Road, E14 . Senior partner Alan Selby will become executive director at CBRE.
Selby founded the firm in 1974 and has led developments in London Docklands, including New Providence Wharf , Baltimore Wharf and Pan Peninsula . Most recently, it has marketed luxury flats in the City of London, such as The Heron .
Alan Selby & Partners is the latest in a string of acquisitions designed to grow CBRE’s UK residential business. CBRE hired Harrods Estates managing director Mark Collins in 2011 to become head of residential and bought West End specialist EA Shaw in late 2012.
More recently, it poached residential development brothers Julian and Luke Mills from rival Savills. It’s residential agency and development team has grown from eight people in 2011 through to 70 this year.
CBRE’s UK residential team now offers services in the prime segment of the London market, including sales, lettings, development consultancy and property management services, in addition to development marketing and investment and acquisition capabilities.
CBRE said the acquisition of Alan Selby & Partners would help strengthen the access between London and the Far East and Middle East markets. It would also work “really hard” to make sure the domestic market was not overlooked.
CBRE UK managing director Ciaran Bird said: “The acquisition highlights CBRE’s continued appetite to invest in our prime residential business as we further build a leadership position in one of the world’s most sought-after real estate markets. We would like to welcome Alan Selby and his team to CBRE; their significant experience, reputation and established business platform will strengthen our residential service offering in London for the benefit of our clients globally.”
Collins explained: “Following the acquisition of EA Shaw in late 2012, the addition of Alan Selby & Partners to our platform is the next exciting chapter in the growth story of CBRE’s prime residential business in central London. Alan Selby is regarded as a pioneer of prime residential services in the eastern central London market and will work closely with Lisa Hollands and myself as CBRE targets further business growth.”
Selby added: “By becoming part of CBRE we can unite our capabilities and reputation in the London market, with its global brand and worldwide network. This will enable us to provide the best possible service for clients seeking to take advantage of opportunities in the central London market.”
