CBRE bolsters retail presence in UK with acquisition

CB Richard Ellis Group (CBRE) is boosting its presence in the UK retail sector with the purchase of Michael Peddar & Company, a retail property specialist focusing on the luxury goods and lifestyle sectors.

Established in 1984, Michael Peddar & Company has advised several retailers including GAP on their launch and expansion strategies in Central London and other major UK centres.

'This acquisition adds further depth to CBRE's full-service retail offering and will enhance our central London and regional retail platforms with their specialisation as a retail adviser for luxury goods and lifestyle brands,' said Ciaran Bird, head of UK Retail, CBRE. 'As global retailers continue to use London as a springboard into Europe, their relationships with some of the world’s top retailers, market insight, and client-focused approach make them an ideal fit with our retail team.'

The transaction follows other strategic acquisitions in the retail arena. In June, CBRE purchased Euro Mall Centre Management, a substantial retail property manager in Central and Eastern Europe. This followed the acquisition of Espansione Commerciale, the market leader in shopping centre leasing and property management in Italy, in late 2008.