Colliers International, which is being spun off by its parent company FirstService Corporation, is in advanced negotiations to buy London broker GM Real Estate for around £25 mln (€32 mln), according to a news report by Property Week.
Colliers International, which is being spun off by its parent company FirstService Corporation, is in advanced negotiations to buy London broker GM Real Estate for around £25 mln (€32 mln), according to a news report by Property Week.
The move would allow Colliers to strengthen its City of London presence and would add to the acquisition last year of property adviser H2SO, specialised in London's West End.
When contacted by PropertyEU, a Colliers spokesperson said the company does not respond to industry rumours. 'Colliers International is in talks with a number of industry professionals and businesses at any given time,' she said.
During 2014, GM completed major transactions including the £1.1 bn sale of the HSBC head office in Canary Wharf to the Qatari Investment Authority, and the £726 mln acquisition of the iconic Gherkin in the City of London for The Safra Group.
Earlier this month Colliers also launched an office sales and acquisition department in Russia. It hired Kermen Mastiev from Cushman & Wakefield to lead the new office, which will include a further three executives.
