Industrial property specialist North Rae Sanders bought by global firm
COVENTRY commercial property agency North Rae Sanders (NRS) has been acquired by international real estate firm Avison Young.
NRS is a specialist in industrial property and especially the letting of ‘big sheds’ in the West Midlands and the so-called Golden Triangle of logistics and distribution scheme centred around Northamptonshire.
It is ranked seventh in the UK in terms of national industrial disposals, first in the West Midlands and second in the East Midlands.
The acquisition – for an undisclosed sum – broadens Avison Young’s industrial and logistics offering and provides it with a Midlands office, the fourth in the UK and the eighth in Europe.
Effective immediately, NRS is rebranded as Avison Young and eight new members join from NRS. Robert Rae, Andrew Jackson, Peter Keir and Tom Kimbell become principals of Avison Young.
Nick Cook, a principal of Avison Young and UK managing director, said: “We’re thrilled to welcome the NRS team to Avison Young, which will provide us with a centre of excellence in the industrial marketplace and firmly cement us as a dominant player in this important sector.
“This acquisition is another important step towards the expansion of our growing UK operation, with a number of other strategic hires yet to be announced, in London, which will significantly bolster our office and retail sector capability and exposure.
“With an increasing flow of Canadian and US occupiers and investors seeking to develop their property and business interests in the UK, the addition of the NRS business and team will provide Avison Young’s global clients with a deeper range of capabilities and services.”
Avison Young is headquartered in Toronto, Canada. It employs 2,100 people in 75 offices.
