Residential property firm moves into commercial market with acquisition

Following the news of Andrew Grant LLP entering administration last month, residential property expert Centrick is making a home for itself in the commercial property sector with its buyout of Andrew Grant Commercial.

Creating a new branch of the business operating under the title Centrick Commercial, the team will oversee an extensive portfolio of property lettings and sales instructions, alongside numerous rent reviews, lease renewals, and red book valuations.

Following the introduction of the deal by Ben Ackrill at Strava Consulting, Centrick acquired Andrew Grant Commercial, a division bought out of the Andrew Grant LLP, which entered administration in June.

The deal sees its full team move across to Centrick Commercial, including three chartered surveyors and commercial property consultant with a combined 120 years’ experience in the sector.

Andrew Grant – who continues to be involved with Andrew Grant Residential as a consultant, having founded the business 50 years ago –  said: “I am so pleased to see the team able to carry on their excellent work under the Centrick brand; I fully endorse this merger.”

George Xydias, will take up the role as Centrick Commercial director and will be responsible for navigating this new direction in the company’s growth.

Also moving to Centrick Commercial are valuation directors Michael Sheppard and Katherine Nolan and property consultant Sue Gould.

Three instructions that the team will start working on immediately include the sales of both the Solihull United Reformed Church on Faulkner Road and the former Evesham train station signal house, and the letting of a former Ministry of Defence fuel storage facility near Upton upon Severn.

Centrick Commercial chairman James Ackrill said: “We are elated to be bringing this entirely new aspect of business to Centrick’s portfolio; having cemented our expertise in residential property solutions over the past 15 years, we felt the time was right to expand our offer and bring our innovative, expert-led, and people-focussed approach to the commercial world.

“The present situation means that the current market conditions are ideal for a dynamic commercial property services team to thrive. We have enormous respect for the values Andrew Grant has established and we are looking forward to building on this under the Centrick brand. As a number of our existing Centrick clients hold both commercial and residential property, a move into commercial property services has been on the horizon for some time, so we look forward to bringing it to fruition now.”