Atisreal, a BNP Paribas company, has acquired five very profitable offices from Chesterton situated in the City of London, Newcastle, Leeds, Southampton and Cardiff following engaged discussions with Grant Thornton, the judiciary administrator.
Atisreal reacted swiftly after the announcement of the appointment of the judiciary administrator, an agreement was made within 48 hours. An acquisition price hasnât been announced.
Chesterton was an important player in the real estate services market in the UK and its activities are completely complimentary to those of Atisreal. This acquisition allows Atisreal to reinforce its offer of services and presence in the important London City market. It also reinforces and increases its recently opened office in Cardiff as well as spread its operational activities to new markets in Leeds, Newcastle and Southampton.
This acquisition suits Atisrealâs strategy to reinforce its presence in the UK by growth of the organization itself as well as through acquisitions. This operation specifically enables Atisreal UK to increase its profit with over ₤10 million annually.
Greg Cooke, President of Atisreal UK said: âThe UK is one of the most important markets in the European real estate market and is a key zone for the investments and expansion of the Atisreal Group. Our work force increases henceforth to more than 650 persons in 14 offices through the UK, where we will become one of the top ten suppliers of real estate services.'