Sotheby’s International Realty UAE acquires UK business

The UK Sotheby’s property business has been acquired by the brand’s Dubai arm.

Its former owner Robin Paterson has sold UK Sotheby’s International Realty to his partner and affiliate George Azar, who owns Sotheby’s Dubai and the Middle East region.

Paterson said: “I am delighted to have sold the business to George Azar and his team who will develop the UK brand throughout London and the UK. There are strong synergies already between the ME region and UK, but these will be enhanced by one ownership”.

Azar said the deal will form the “ultimate trifecta between UAE, Saudi Arabia and United Kingdom.”
https://www.estateagenttoday.co.uk/breaking-news/2023/1/industry-figures-acquire-agency-network

He added: “It is exciting news for the Sotheby’s global realty market as these regions have always had a very strong relationship and we believe that with this acquisition of the UK we can lead this trilateral relationship onto the next chapter.”

There will be no immediate change in personnel or in the day to day running of the business, the brand said.

It marks a busy start to the week for agency acquisitions after the Relocation Agent Network was acquired by a new company backed by senior agency figures.

RAN’s owner Dwellworks completed on the sale to Realogist, founded by Simon Whale of Kerfuffle and Kevin Ellis of Thomas Mae Group. 

Meanwhile, luxury real estate brand Christie’s International Real Estate has signed Carter Jonas as its exclusive affiliate in the United Kingdom.

The Christie’s International Real Estate affiliation will be exclusively linked with the consultancy’s residential departments.

The Christie’s International Real Estate brand offers Carter Jonas agents and clients access to a number of benefits including increased international exposure for luxury properties, a global referral network, a marketing platform and exclusive partnerships, including with Christie’s auction house.

Lisa Simon, head of residential at Carter Jonas, said: “Our professionals know the London and regional property markets inside out and have a wealth of experience in the industry. 
“This includes a comprehensive grasp of the motivations and day-to-day realities of our clients, enabling them to advise from a long-term point of view. Furthermore, because we are a partnership, our clients can take comfort in dealing directly with the owners of our business”.

Helena de Forton, managing director for EMEA and APAC at Christie’s International Real Estate, added: “The UK – especially London, where Christie’s was founded – is a key market for Christie’s International Real Estate, so it was critical to find the right local partner. As a successful, independent consultancy built on superior client service and personalised attention, Carter Jonas embodies the Christie’s International Real Estate brand, and we’re thrilled to add them to our network of luxury affiliates around the world.”