UK estate agency Strutt & Parker acquired by BNP Paribas Real Estate
BNP Paribas Real Estate has announced the acquisition of Strutt & Parker, one of the UK’s largest independent property partnerships with 60 offices across the country.
Thierry Laroue-Pont, chief executive officer of BNP Paribas Real Estate said that the move will create a leading UK real estate player with the merger being completed next month.
The result will see clients offered a comprehensive range of services covering the entire lifecycle of a real estate asset including development, investment management, property management, sales, advisory and valuation.
‘We are delighted to have this opportunity to create a new major real estate player that combines the skills of our two companies. This combination will enable us to offer our clients, all over the world, a broadened and deeper expertise as well as new, even more innovative services and solutions. In this new stage of development, we shall carefully take into consideration the expectations of both groups’ employees and clients, Laroue-Pont added.
Andy Martin, senior partner at Strutt & Parker, explained that uniting the firm’s UK brand with the strength of BNP Paribas Real Estate creates a new impetus in a constantly evolving global market.
‘I have been impressed by the respect that they have shown for our values, and by their emphasis on the relationship with employees and clients across all our business sectors.
This merger not only creates attractive commercial real estate opportunities, but also opens up new prospects in the rural and residential sectors thanks to the size and strength of the group that we are creating together,’ he pointed out.
The expertise of Strutt & Parker, the second biggest player in the UK rural market and third in residential, will represent a new service offering for the UK subsidiary of BNP Paribas Real Estate, thereby enabling it to broaden its range of services.
The merger will create additional services for all types of assets, thus offering clients real added value. Both companies want to keep the customer at the centre of their decisions, by focusing on the excellence of the services provided. This commitment is undertaken equally by all the teams of BNP Paribas Real Estate and Strutt & Parker.