10 June, 2008 – Knight Frank's Manchester office expands into retail arena with acquisition of niche agency
Commercial property consultancy Knight Frank has substantially strengthened its retail expertise in the North West with the acquisition of leading retail practice Markham Vaughan Gillingham for an undisclosed sum.
MVG is one of the UK’s premier retail and leisure leasing practices with offices in London, Bristol and Manchester. Its 12 strong team is currently advising on more than 9.5 million sq ft of shopping centres and has a national reputation in retail, out of town and retail warehousing, and factory outlet centres.
Andrea George of MVG will head the North West retail agency team at Knight Frank’s King Street office. She is currently responsible for the day to day leasing on MVG’s major projects including Spinningfields in Manchester and David McLean/Nikal’s Altair in Altrincham. Andrea is also advising Argent on sites in the city.
Alistair Elliott, head of Knight Frank’s commercial division, said: “The acquisition of MVG propels us to a new platform and is part of our continued strategy to develop and strengthen our retail team and enhance our mixed use expertise. The MVG team complements our culture and we already have a number of mutual clients.
“Our objective is clear: to let the MVG team operate as they have done with such great success whilst providing them with the support, depth and breadth of the Knight Frank business to incorporate our offices, hotels, and residential development teams. My expectation is that we will look back at this in the relatively near future and acknowledge it as being the event which unquestionably put Knight Frank onto the retail map. There are huge synergies with our investment, valuation, building consultancy, and mixed use businesses, and great potential.”
Ian Barbour, director, Markham Vaughan Gillingham, will be head of retail, based at Knight Frank’s global HQ in London. He said: “In the last few years our reputation has grown and our unrivalled record of delivery has resulted in significant expansion of our client and instruction base providing us with a strong platform. The time has come for us to expand and be part of a broader business which incorporates those services offered by a large consultancy, such as investment, asset management and research across all real estate sectors. Our move will enable us to offer our clients a truly integrated service.”
MVG’s national client list includes Asda, Schroders and Land Securities plc.
Source: Knight Frank Press Release