Advisor CBRE announced on Friday that it has agreed to acquire CWM, a major independent retail and leisure property consultancy in the United Kingdom. Financial details were kept confidential.
Founded in 1992, CWM advises more than 60 leading retail brands in the UK, including Tommy Hilfiger, Hugo Boss, Pret A Manger and The Body Shop, as well as major London Estates, including Battersea Power Station, Covent Garden and Marylebone Village, and shopping centre and travel retail leasing work at Edinburgh St James, the O2, Borough Yards, Paddington Central, Broadgate, Waterloo and Kings Cross St Pancras.
Its services include strategic advice to retailers and landlords, high street agency, shopping centre leasing, retail lease management and retail professional services. It also has specialist teams focused on restaurants, leisure, outlet and transport hubs.
Closing of the transaction will take place following completion of the staff consultancy process.
Upon closing, the full CWM team will operate as part of CBRE’s UK Retail business, trading under the CBRE brand and operating from CBRE’s newly refurbished UK headquarters at Henrietta House. Scott Murdoch, managing partner of CWM, will be appointed Chairman of UK Retail, working closely with Rhodri Davies, CBRE’s head of UK Retail.
‘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,’ said Ciaran Bird, divisional president, Advisory Services, CEO UK & Ireland. ‘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.’
