Canadian real estate firm Avison Young said it agreed to acquire Manchester property consultancy WHR.
The Manchester office will become Avison Young’s fifth office in the UK and 11th office in Europe amid an aggressive growth and expansion strategy.
Over the past nine years, Avison Young has grown from 11 offices to — upon closing of the WHR transaction — 81 offices in 73 markets, and from 300 to more than 2,600 real estate professionals in Canada, the US, Mexico and Europe.
WHR will be rebranded as Avison Young with Mark Williams, Gareth Buckley, Mike Rooney and Dan Crossley becoming principals of Avison Young.
Williams also will become managing director of the new Manchester office and will play a leading role in the company’s strategic expansion in the North West region while managing the day-to-day operations of the office.
“We’re thrilled to welcome the WHR team to Avison Young and open a new office in Manchester, which will provide us with a centre of excellence in the dynamic North West marketplace and expand our footprint in the UK,” said Avison Young CEO Mark Rose.
“The new Manchester team prides itself on close relationships with clients, many of whom have relied upon the firm since its inception.
“This acquisition is another important milestone in the expansion of our rapidly growing UK operations.
“Avison Young will provide the new team’s clients with a countrywide service offering that spans the entire property lifecycle.
“In addition, we’ll provide North West clients with access to overseas markets and global resources.”
Effective upon the closing of the transaction, Avison Young’s new office in Manchester will be located within the central business district at The Lexicon, 9th floor, 10 Mount Street.
Williams said: “While we are proud of WHR’s achievements and growth to date, we do recognize that the future growth of the business will require a stronger national and, importantly, international brand.
“When we were approached by Avison Young, we were impressed with how closely our companies’ philosophies aligned, and felt confident that our well-established regional presence would be enhanced by joining a larger firm with strong UK and international client bases.
“We feel that this move is particularly important in the context of Manchester and the North West of England, as we are seeing real estate become an increasingly globalized commodity.”