Nick Smith joins Savills as Director

Savills has expanded its lease consultancy team in its London head office with a new Director. Nick Smith brings more than 26 years of experience in the central London office sector.

“We are delighted to welcome Nick to the team,” commented Head of Lease Consultancy, Nick Taylor. “He is highly regarded across the central London office market, with considerable experience, knowledge, and expertise, as well as a strong client following. Nick’s arrival will undoubtedly complement our existing lease consultancy business and further strengthen our capability.”

Savills is a global real estate services provider with a network of more than 39,000 people in over 600 offices across the Americas, Europe, Asia Pacific, Africa and the Middle East. Headquartered in London, the advisory firm supports corporate, institutional and private clients who are seeking to acquire, lease, develop or realise the value of residential and commercial property in the world's key locations.

Smith specialises in lease advisory matters, including rent reviews, lease renewals, surrender negotiations, strategic consultancy and portfolio management. He joins Savills from investment management firm JLL, where he was head of West End lease advisory for more than a decade.

Of his new challenge, Smith said, “I am excited to be joining the market leading lease consultancy team at Savills. This is an interesting time for the real estate sector, which will see occupiers and investors closely scrutinising liabilities and returns. Savills is a global company I admire and I am looking forward to working with my new colleagues and other market specialists across the business to provide top quality, best in class advice to clients.”

The news comes as Savills prepares to help lease clients through a challenging market, in 2023. UK house prices may tumble as much as 10% in the next year, as soaring interest rates and a deepening recession weigh down a market that thrived through the pandemic – and as housing becomes more affordable to buy, demand for rental houses may also decline.