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CBRE Group, Inc. (NYSE:CBG) today announced the acquisition of Alan Selby & Partners (AS), a leading London prime residential development consultancy, sales and leasing agency focused on the London Docklands market, including Canary Wharf, and the City of London.
The acquisition marks another step in the growth of CBRE’s UK residential business, which concentrates on the prime Central London market. This is the second significant residential acquisition for CBRE in London in the last 12 months, led by EMEA Managing Director Martin Samworth. CBRE acquired London-based EA Shaw in late 2012.
AS was founded in 1974 by Alan Selby and with a track record of consulting on more than 70 large development projects, is widely regarded as one of the pioneers of prime residential real estate development in the East End of London. The firm has led several landmark developments that have contributed to the regeneration of London Docklands, including New Providence Wharf, Baltimore Wharf and Pan Peninsula. Most recently, AS has successfully marketed luxury residential apartments in the City of London, including “The Heron,” one of London’s most high profile new residential developments.
CBRE’s fast growing UK residential business, led by Mark Collins and Lisa Hollands, offers a full range of services in the prime segment of the market, including sales, leasing, development consultancy and property management services, as well as development marketing and investment/acquisition capabilities. Over the past two years, CBRE has also built a network of residential experts based in key markets across Europe, the Middle East and Asia to connect foreign buyers with prime opportunities in Central London. CBRE UK Residential serves a range of clients, including Berkeley Homes, Exemplar, CIT and Barratt Homes.
Commenting, Ciaran Bird, CBRE’s UK Managing Director, said:“The acquisition of Alan Selby & Partners highlights CBRE’s continued appetite to invest in our prime residential business as we further build a leadership position in one of the world’s most sought after real estate markets. We would like to welcome Alan Selby and his team to CBRE; their significant experience, reputation and established business platform will strengthen our residential service offering in London for the benefit of our clients globally.”