JLL said yesterday it had bolstered its residential business after snapping up for an undisclosed sum a property consultancy specialising in affordable housing.
The company said accountancy and advisory firm Mazars had agreed to sell the subsidiary, which was founded in 2001 and provides valuation and surveying services to the social housing sector.
Mazars’ five-strong property team, headed by director Dave Chapman, have joined JLL’s affordable housing arm, but will continue to be based in Birmingham and Bristol. JLL has also hired Shuab Mirza from Countrywide Social Housing to join the team.
The deal comes after JLL bought upmarket London estate agency WA Ellis in October last year as it seeks to increase its exposure to London’s buoyant housing market.
JLL’s head of residential, Andrew Frost, said the acquisition would bring “a new and important regional dimension” to the company as well as draw in new clients.
“Being able to offer our clients a truly comprehensive, national service is increasingly important as clients’ requirements grow and the market looks for advisers with true breadth,” he said.