Savills has bought property consultancy GBR Phoenix Beard.
The two agencies had been in talks about adding the niche agent to its UK operation to create a leading advisory firm in Birmingham.
• From 29 June 2016: Savills in talks to acquire regional specialist GBR Phoenix Beard
GBRPB’s head office is in Birmingham, with offices in London and Leeds, and is known for having a strong property management business. It manages properties for clients including Columbia Threadneedle, Standard Life, Calthorpe Estates, Wesleyan and Scarborough.
Its agency team acts for clients including M+G, Ballymore, CEG, Bruntwood, L&G and Ediston.
It strengthened its transactions offer back in 2010, when it merged with local agent GBR Property, to form GBR Phoenix Beard.
• Analysis: Big fish hungry for more
Savills will take on all 205 of GBRPB’s employees, including managing director Simon Farrant, head of property management Catherine Gabriel and head of agency Stephen Benson, with immediate effect. It will move GBRPB and Savills’ Birmingham office into a new combined office in due course. GBPPB teams in London and Leeds will move into Savills offices in Margaret Street, W1, and City Point, EC2.
Mark Ridley, chief executive of Savills UK and Europe, said: “This acquisition is a unique opportunity to further strengthen our national multi-sector offer providing high-quality staff and a first-class client base with a strong level of recurring income.”
Simon Farrant, managing director at GBR Phoenix Beard, said: “We are genuinely thrilled to be joining Savills, which reflects the high esteem in which our business and our team are held.
“Savills’ full-service business, global presence and highly developed infrastructure bring significant opportunities for staff and clients.
“This is a pivotal moment in GBR Phoenix Beard’s 50-year history.”
Savills acquired specialist residential management business Chainbow and its 28 employees in June.
Can we have this graphic from June at the bottom
From June: Hungry fish: EG looks back at all the biggest mergers since 2014
• To send feedback, e-mail david.lindsell@estatesgazette.com or tweet @DavidLindsellEG or @estatesgazette
