LISTEN: Further consolidation is likely in the London market says Stephen Down, executive director and head of London and international at Savills.
Speaking to EG as the company announced it was taking over the Deloitte Real Estate’s four-strong City investment team, he said: “The market has had three very strong years in London. I’m not that nervous about the next 18 to 24 months, but I do expect turnover to drop.
“We are making sure we maintain market share, and those businesses perhaps on the periphery of what we are doing – they will want to join forces and strengthen their own base in London,” he said. “I can see further consolidation and other activity, although it is a limited pool of talent.”
Led by Jamie Olley, Thomas Reeves, Jamie Binstock and David McArthur will join Savills.
Click here to read EG’s full analysis on Deloitte splitting up its transactional team.
London’s top investment agents 2015
| Rank | Agent | Total (£m) |
|---|---|---|
| 1 | JLL | £1,528 |
| 2 | Cushman & Wakefield | £1,344 |
| 3 | CBRE | £1,286 |
| 4 | Eastdil Secured | £1,187 |
| 5 | Knight Frank | £1,118 |
Source: EGi Research
