Commercial property consultancy Lambert Smith Hampton announced the acquisition of BTWShiells’s commercial division.
Northern Ireland's number one consultancy
BTWShiells is Northern Ireland’s leading firm of commercial property consultants, employing 75 people at its headquarters in Clarence House in Central Belfast. BTWShiells’s existing management team of Keith Shiells, Paddy Brennan, Donall McCann, Paul Gamble and Stuart Draffin will retain leadership roles in Lambert Smith Hampton’s operations in Ireland.
The deal involves the purchase of BTWShiells’s highly-regarded commercial business including its market-leading retail and commercial agencies, capital markets team and its shopping center management operations. BTWShiells is one of the largest managers of shopping centers and retail parks across the UK and Ireland, with more than 8 mln ft² (approx. 743,225 m²) of space under management including the prestigious Victoria Square scheme in Belfast.
The transaction sees the management team return to Lambert Smith Hampton, having been part of the latter’s business until a 2003 management buy-out.
An on-the-ground presence in every major UK region
The addition of Belfast to Lambert Smith Hampton’s existing network of offices in 26 locations provides the company with an on-the-ground presence in every major region of the UK. The deal reflects the company’s strategic plan of focusing investment on areas of its business where it can add most value for clients.
Ezra Nahome, CEO of Lambert Smith Hampton, said: “The transaction brings together highly-regarded and complementary teams in strategically important areas such as capital markets, asset management and agency, thereby further improving the expertise and coverage available to clients. It also adds to our existing offer in the non-performing loan portfolio market by strengthening our presence in Ireland, where we see opportunity.
An important strategic initiative
“This is an important strategic initiative for Lambert Smith Hampton – and it won’t be the last one that we undertake. We will continue to target investment into areas that enable us to provide higher value-added services as part of our commitment to helping clients achieve more.
“No other commercial property consultancy understands the UK as well as us; that’s what our clients keep telling us. By adding Northern Ireland’s leading adviser to our offer, this deal further consolidates our position as being the number one firm providing trusted on-the-ground advice in every part of the country.”
It's good to be back home
Keith Shiells, who has been involved in the BTWShiells business since it was created in 1979, said: “We were part of the Lambert Smith Hampton group for 15 years prior to the MBO in 2003 and it’s good to be back home with a management team that we know and trust.
“The strong brand of the Lambert Smith Hampton business will allow us to build on our market leading position and strengthen our offer to clients.”
Paddy Brennan added: “The transaction is the perfect fit for BTWShiells. I have been friends with Lambert Smith Hampton CEO Ezra Nahome for over 20 years from when I started my career as an investment agent in London and it’s great to be back working with him again.”
The acquisition was concluded for an undisclosed sum.
Source: Lambert Smith Hampton