CBRE Group Inc. has acquired of EA Shaw, an independent commercial and residential property partnership which specialises in central London.
Founded in 1899, EA Shaw provides commercial and residential investment, management, asset management and leasing services to clients including Shaftesbury PLC, Soho Estates, Scottish Widows Investment Partnership and Legal & General. Earlier this year, EA Shaw was named London Property Advisor of the Year by Estates Gazette for the fifth time in six years.
EA Shaw will become part of CBRE’s Central London business under the leadership of Adam Hetherington and will continue to operate from its office in Covent Garden. Through the transaction, CBRE brings on board an established team of commercial real estate professionals in London’s Midtown and South Bank areas, including Nick Bark, Head of Management, and Charlie Killen, Head of Commercial. The EA Shaw professionals complement CBRE’s market-leading position in the West End, City and East London markets.
During the first nine months of 2012, CBRE was the most active capital markets advisor in the UK and central London, according to CoStar, and the top office leasing agent in London in Q3 2012, according to Estates Gazette.
The acquisition also significantly enhances CBRE’s fast-growing central London residential business, which will now offer a full range of services in the prime and super-prime segments of the market, including lettings, development consultancy and property management services. The transaction also boosts CBRE’s existing development marketing and sales/acquisition capabilities.
Over the past two years, CBRE has built a network of residential experts based in key markets across Europe and Asia focused on promoting super prime opportunities in central London. CBRE Residential already serves a range of clients including Berkeley Homes, Exemplar, CIT and Barratts.
CBRE’s Mark Collins will become Chairman of the combined residential business with EA Shaw’s Lisa Hollands serving as Managing Director, and CBRE’s Chris Lacey continuing as Head of Residential Funding & Investment. The enlarged residential team will operate from both EA Shaw’s existing Covent Garden offices and CBRE’s Henrietta House base in the West End.
Michael Strong, Chairman & CEO of Europe, Middle East and Africa, CBRE, said:
“We are committed to continually investing in our business with a focus on improving our offer to clients. London is one of the most important real estate markets globally and extending our leadership position to new segments of the city enhances our ability to respond to client requirements. EA Shaw is an ideal partner for us; our combined commercial and residential offerings provide another significant dimension to our London and international capabilities.”
Adam Hetherington, Managing Director, Central London, CBRE commented:
“The combination of EA Shaw and CBRE creates a formidable force in the central London market with a unique capability to provide advice across both the residential and commercial sectors. EA Shaw is highly regarded in the residential market, and alongside their strength in development marketing, they bring a highly skilled lettings, management and second-hand sales/acquisitions services team to CBRE.”
EA Shaw’s Charlie Killen added:
“We are exceptionally proud of our achievements at EA Shaw. By aligning our specialist expertise and intensive market knowledge with CBRE’s broad-ranging capabilities and truly global reach, we will be able to provide our current and future clients with the best possible service. We believe this transaction creates a powerful proposition for those seeking to promote or access opportunities in the central London market. In particular, the prospects for furthering our commercial real estate business and building a sizeable residential team together serving the cross-border prime and super-prime markets are incredibly exciting.”
This is the second investment CBRE has made in the UK this year, following the acquisition of Franc Warwick in September.
Published on: 20 11 2012