BNP Paribas Real Estate has purchased Strutt & Parker, one of the UK’s largest independent property partnerships. The acquisition, which will be completed in September 2017, will merge the UK subsidiary of BNP Paribas Real Estate with Strutt & Parker.
BNP Paribas Real Estate is one of the main providers of property services and offers its clients a comprehensive range of services covering the entire lifecycle of a real estate asset (Development, Investment Management, Property Management, Transaction, Advisory and Valuation).
Strutt & Parker is a leading name in the UK real estate market. With 60 offices across the UK, Strutt & Parker offers its corporate and private clients a wide range of property services, covering all real estate asset (rural, residential, retail, logistics and offices).
Thierry Laroue-Pont, CEO of BNP Paribas Real Estate, declared, “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.”
Andy Martin, Senior Partner at Strutt & Parker, added: “I am very keen on the idea of uniting our brand with the strength of BNP Paribas Real Estate. It gives us a distinguishing feature and 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.”
Strutt & Parker’s residential, rural, development and planning teams will continue to operate under the Strutt & Parker brand, whilst the commercial arm of the business will operate under the BNP Paribas Real Estate brand.