C&W makes first move in Birmingham with Alston Nock acquisition
27 Apr, 2007, Birmingham
Cushman & Wakefield announced today that it has acquired Birmingham-based retail specialist Alston Nock run by Robert Alston and Stephen Nock. This acquisition marks Cushman & Wakefield's first step towards establishing a full service regional office in Birmingham and the firm is expected to announce further significant appointments in the coming months.
Robert Alston and Stephen Nock established their niche retail practice Alston Nock in 1989 and have been active players in the Midlands retail agency market (in town/out of town and shopping centres) acting for clients including Morley, Boultbee, Protego, Dunelm and HBOS. Both Robert and Stephen join Cushman & Wakefield as Partners and become part of the 80-strong UK retail team headed by John Strachan.
In 2006, Cushman & Wakefield stated its intention to establish a full service operation in Birmingham in order to meet the growing demand for its services from clients in the Midlands region. The firm intends to follow its successful launch strategy into Manchester by again pursuing a combination of organic growth and acquisitions.
Adrian Hill, chairman of regional offices and international board member at Cushman & Wakefield said: "It is our aim to become the leading agent in Birmingham within the next five years by securing the best talent available in the market and providing first class services to our clients. We already have an excellent track record in the region and we are confident that with a dedicated Birmingham office able to leverage our leading European and global platform, we can become the advisor of choice at the forefront of the market."
He continued: "It is great news that Robert Alston and Stephen Nock are joining our new operation in Birmingham. They will be great assets within our national retail team and will enable us to penetrate the Midlands market and to continue to build on our presence in the region."
Cushman & Wakefield has been an active player in the region in recent years with numerous successes including: advising Birmingham Alliance on the Bullring where the firm is joint letting agent; advising Carlyle Group on the £150 million acquisition of Colmore Plaza; advising Arlington and Birmingham City Council prior to being appointed letting agents on Venture East. The firm also advised on the disposal of the Browns Lane Jaguar site.
Cushman & Wakefield aims to secure an office in the city centre and be fully operational by the end of this year. Adrian Hill will oversee the expansion programme in Birmingham and will be responsible for heading the office.
In line with the firm's regional expansion programme, Cushman & Wakefield has also announced its intention to significantly increase the size of its Stockley Park office and to be the first agent to have a full service operation in the Thames Valley region. The firm expects to announce new appointments before the end of the year.