Savills buys UK-based property consultancy GBR Phoenix Beard
Savills has acquired GBR Phoenix Beard, a UK-based property consultancy with offices in Birmingham, London and Leeds. The bolt-on adds around 200 professionals to Savills’ UK operations, and creates one of the largest real estate advisory firms in Birmingham and the wider Midlands region.
GBR Phoenix Beard is an independent, owner-managed business which support clients with a range of property consulting services, including commercial estate management, office and industrial agency, investment, residential management, building consultancy, lease consultancy, rating, and health and safety services. The firm works for a diverse base of clients such as M&G, Ballymore, CEG, Bruntwood, L&G and Ediston, and manages properties across the UK on behalf of retained clients including Columbia Threadneedle Investments, Standard Life Investments, Calthorpe Estates, Wesleyan and Scarborough Group.
In the year GBR Phoenix Beard turned fifty – the consultancy was founded in 1965 – the firm has decided to merge into Savills, a larger player in the UK, and internationally one of the market’s largest players – globally Savills has 30,000+ people across a network of over 700 offices. “This is a pivotal moment in GBR Phoenix Beard’s history and we are excited by the compelling proposition offered. Savills full-service business, global presence and highly developed infrastructure bring significant opportunities for staff and clients alike”, says Simon Farrant, Managing Director at GBR Phoenix Beard.
As part of the integration, GBR Phoenix Beard Birmingham – the firm’s headquarter and largest hub – will be integrated into Savills’s Midlands operation, for which a new combined office will be opened in due course. The GBR Phoenix Beard teams in London and Leeds will move into Savills existing offices at Margaret Street and City Point.
The joining of forces will, according to Barry Allen, Head of Savills Birmingham, create a leading advisory firm in Birmingham*, with a particularly strong position and client offering in property management, agency, building surveying and investment. “The combination of the two businesses and our existing market relationships and expertise will create an impressive force in the market. I am very much looking forward to working with the GBR Phoenix Beard team to drive our already strong presence in Birmingham and the wider Midlands area to a new level.”
Commenting on the acquisition, Mark Ridley, CEO of Savills UK and Europe, says the acquisition represents a “unique opportunity” for Savills to further strengthen its offering in the UK. “The deal provides us with high quality staff and a first class client base with a strong level of recurring income.”
Equiteq, an M&A boutique that specialises in deals in the consulting industry, acted as the lead advisor to GBR Phoenix Beard. Equiteq recently also advised on the merger between Asia-based consultancies PMsquare and Cornerstone Performance Management – the transaction was completed earlier this month.
* Savills Birmingham was established in 1998 and offers a full spectrum of property consultancy and management services.
