Deloitte Real Estate sells national investment team
DELOITTE Real Estate has sold its national investment team to Gerald Eve in a deal for an undisclosed sum.
The deal will see the 18-strong team, led by John Rodgers, transfer to Gerald Eve.
The sale follows a four-month strategic review of the firm’s Real Estate operations, which earlier this month saw the sale of its Agency, Lease Advisory and Asset & Property Management teams.
The deals were split as follows:
• Stephen Peers and the West End and City leasing teams transferred to Gerald Eve as has Tony Guthrie and the Lease Advisory team and Mike McChesney and the Dilapidations team.
• Jamie Olley and the City Investment team are transferring to Savills
• Julian Stocks and the Asset and Property Management (APM) team are transferring to Knight Frank.
On the latest deal, thought to have been completed last night, Nigel Shilton, managing partner for Deloitte Real Estate, said: “I am confident Gerald Eve is the perfect fit for John and his investment team and I would like to take this opportunity to thank the team for their contribution to Deloitte and wish them every success in the future as they join Gerald Eve.
“This review has taken considerable time and effort to ensure it was conducted in a collaborative manner and to deliver the right outcomes for our people and clients. I am very much looking forward to the next chapter of Deloitte Real Estate as we invest in our core market-leading real estate services.”
Mr Rodgers, head of national investment at Deloitte Real Estate, said: “I am delighted to be returning to Gerald Eve after beginning my career there 20 years ago. As a British equity partnership, it is the perfect cultural fit for our national investment team and we are all very excited to bring our clients to the Gerald Eve business.”
Simon Prichard, Gerald Eve’s senior partner, said: “This is something of a coup for us and with five teams now on board, we are undergoing quite a step-change.
“Clearly we are never going to abandon our commitment to consultancy work, but we can now offer significantly enhanced transactional capabilities to better serve our clients right across the board. It is especially gratifying that all 38 individuals have made an active choice to join us as we have a culture and a business that they can identify with. This is no bull-market acquisition but rather a one-off opportunity to integrate some talented people into an existing successful platform with significant potential for growth.”
The proposed date to conclude all the transfers is May 31, 2016.
It is thought the strategic review flagged up potential conflicts of interest due to the wider company’s regulatory and audit work. The situation is a legacy of the firm’s acquisition of Drivers Jonas in 2010.
