CBRE has bought independent West End specialist EA Shaw.
EA Shaw will become part of CBRE’s Central London business under the leadership of head of central London Adam Hetherington. It will continue to operate from its office in Covent Garden.
CBRE said that the acquisition – its second in recent weeks – would complement its market-leading position in the West End, City and East London markets, with the addition of EA Shaw’s Nick Bark, head of management, and Charlie Killen, head of commercial, to the CBRE team.
The firm added that the acquisition also significantly enhances CBRE’s fast-growing central London residential business, which will now offer a full range of services in the prime and super-prime segments of the market, including lettings, development consultancy and property management services.
CBRE’s Mark Collins will become chairman of the combined residential business with EA Shaw’s Lisa Hollands serving as managing director, and CBRE’s Chris Lacey continuing as head of residential funding & investment.
The enlarged residential team will operate from both EA Shaw’s existing Covent Garden offices and CBRE’s Henrietta House base in the West End.
CBRE EMEA chairman and chief executive Mike Strong said: “We are committed to continually investing in our business with a focus on improving our offer to clients. London is one of the most important real estate markets globally and extending our leadership position to new segments of the city enhances our ability to respond to client requirements.
“EA Shaw is an ideal partner for us; our combined commercial and residential offerings provide another significant dimension to our London and international capabilities.”
Hetherington added: “The combination of EA Shaw and CBRE creates a formidable force in the central London market with a unique capability to provide advice across both the residential and commercial sectors. EA Shaw is highly regarded in the residential market, and alongside their strength in development marketing, they bring a highly skilled lettings, management and second-hand sales/acquisitions services team to CBRE.”
Killen said: “By aligning our specialist expertise and intensive market knowledge with CBRE’s broad-ranging capabilities and truly global reach, we will be able to provide our current and future clients with the best possible service.
“We believe this transaction creates a powerful proposition for those seeking to promote or access opportunities in the central London market. In particular, the prospects for furthering our commercial real estate business and building a sizeable residential team together serving the cross-border prime and super-prime markets are incredibly exciting.”
Founded in 1899, EA Shaw provides commercial and residential investment, management, asset management and leasing services to clients including Shaftesbury, Soho Estates, Scottish Widows Investment Partnership and Legal & General.
This is the second niche agent to be bought by CBRE this year. It bought Franc Warwick in September.
