CBRE Group, Inc. (NYSE:CBG), a leading global commercial real estate services and investment firm, today announced the acquisition 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.