CBRE is expanding its UK retail and leisure real estate services arm with the acquisition of CWM.

The commercial real estate services and investment firm has invested an undisclosed amount to buy consultant CWM, as it banks on a recovery in the retail market post the coronavirus pandemic.

Founded in 1992, CWM advises more than 60 retail brands in the UK. Its services include strategic advice to retailers and landlords, high street agencies, shopping centre leasing, retail lease management and retail professional services.

Once, the acquisition is completed, the CWM team will operate as part of CBRE’s UK retail business. As part of the deal, Scott Murdoch, managing partner of CWM, will be appointed chairman of UK retail, working with Rhodri Davies, CBRE’s head of UK retail.

Ciaran Bird, divisional president, advisory services, CEO UK and Ireland said: “We are anticipating a significant rebound in retail market activity as the economy improves as well as the continued large scale repositioning of retail real estate as retailers adapt their offering to meet changing consumer demands.

“CWM has always been highly regarded as a leading retail advisor and combining their team alongside our established retail specialists will ensure we have a formidable market offering that can provide clients with the very best strategic consultancy advice.”

Murdoch said: “We are already seeing a significant bricks-and-mortar bounce back in the retail and leisure market in the wake of the pandemic, and whilst the retail landscape has changed profoundly, it is now universally accepted that retail standalone store representation is an essential part of this multi-channel world we live in and that it is likely this will always be the case.

“We want to be at the vanguard of this change and provide the best-in-class advice.”

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