Real estate merger will create huge international resource

Canada-based Avison Young has completed the acquisition of real estate advisory business GVA.

The enlarged group operates three offices in the North West, one in Liverpool and two in Manchester.

The acquisition, for an undisclosed sum, establishes Avison Young as the only privately held, principal-led, global, full-service commercial real estate services firm.

The combination also establishes Avison Young among the top five commercial real estate advisory businesses in the UK.

The new entity involves 5,000 professionals in 120 offices in 20 countries.

Avison Young chair and chief executive, Mark E Rose, said: “This acquisition represents another milestone in our global expansion strategy, and the combination will better position Avison Young to serve our clients across the world.

“Furthermore, the acquisition establishes Avison Young as the global, disruptive challenger brand.

“We are now 5,000 strong, having nearly doubled our size and ability to provide clients with whatever they need, wherever in the world they need it.

“In GVA, Avison Young has added a like-minded UK real estate leader – a company that brings a partnership culture formed during more than 200 years in business.”

He added: “The acquisition increases our scale and presence, expands our global talent pool and reach, and enhances the breadth and balance of our services.

“Most importantly, the combination increases the resources that we can invest in innovation to keep our clients ahead of the curve.”

As a result of the merger, Avison Young increases its revenue to 25 times its 2008 level to approximately £580m.