Alan Selby & Partners, an upmarket London development consultancy, sales and lettings agency, has been acquired by CBRE for an undisclosed sum.
Global giant CBRE, better known for its commercial agency, made it plain that it is planning to grow its UK residential business.
Alan Selby founded his firm back in 1974. It focuses on prime residential development in the east of London, notably in the City of London and Docklands, including Canary Wharf, and recently acted alongside Knight Frank in the sale of Royal Wharf by Ballymore.
The deal is the second significant residential acquisition for CBRE in London in the last 12 months. It acquired EA Shaw in late 2012.
Ciaran Bird, CBRE’s UK managing director, said: “The acquisition of Alan Selby & Partners highlights our continued appetite to invest in our prime residential business as we further build a leadership position in one of the world’s most sought-after real estate markets.”
CBRE Group, headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm with 37,000 employees.
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