European commercial property advisor Atisreal has acquired 100% of Fuller Peiser, a commercial real estate services rival in the UK. The price was not disclosed, but Property Week suggested Atisreal, a subsidiary of BNP Paribas real Estate, paid approximately £15 mln (#E22.3 mln).
European commercial property advisor Atisreal has acquired 100% of Fuller Peiser, a commercial real estate services rival in the UK. The price was not disclosed, but Property Week suggested Atisreal, a subsidiary of BNP Paribas real Estate, paid approximately £15 mln (#E22.3 mln).
The move is part of Atisreal’s aim become a top-five player in the UK. Fuller Peiser was established in 1883 and has 220 staff in six offices across the UK. A provider of property services, particularly to the3 industrial and logistics secotr, Fuller Peiser had an annual gross turnover of #E28.3 mln in 2005.
The combined company will be called Atisreal UK from November and will have an expected annual gross turnover of #E122.8 mln in 2006. It will have 880 staff in 11 cities in the UK and will be have a combined management team from both companies: Atisreal’s Greg Cooke and Mark England as chairman and chief executive, with Martin Coles, managing partner of Fuller Peiser, becoming a board director.
