Last week, Savills announced that it has acquired the UK property management business of Montagu Evans, which will be integrated into Savills’ operations.
This move provides Savills with an opportunity to enhance its already robust UK property management business by further broadening its client base, particularly in the public sector. It will also strengthen its accounts team and create greater opportunities to leverage sector-specific knowledge and expertise throughout its UK divisions and regions.
Led by Andrew Walker, the property management team at Montagu Evans consists of nearly 100 staff, with 20 based in its London office, 18 in Edinburgh, and a further 59 site-based staff who will all transfer to Savills immediately. Those based in London and Scotland will join Savills’ respective offices in these locations.
Montagu Evans’ property management team has an established client base, including Redical Holdings, Rivington Hark, AEW, and several local authorities. They currently manage a shopping centre portfolio of approximately 5 million sq ft across 20 centres, with the majority being public sector mandates. This will both complement and enhance Savills’ market-leading position in relation to shopping centre instructions, which encompass 49 million sq ft across the UK, with a predominantly private client base.
Nick Herward, head of property management at Savills, says: “By acquiring Montagu Evans’ UK property management business, we have a valuable opportunity to expand and augment our already market-leading property management offering in the UK. We have identified strong synergies with our existing instructions and clients, which will help us to enhance our service further. The team at Montagu Evans has a wealth of experience across the industry with very well-regarded personnel that will provide additional depth to our team.”
Andrew Walker, head of property management at Montagu Evans, comments: “This is an exciting opportunity for the team, and we look forward to working with Savills, whom we regard as market leaders in property management. This move not only supports our growth and expansion but also enables us to maintain a first-class service for clients while providing a strong platform for future growth and offering new opportunities for our people to develop their careers.”
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