CBRE group expands into luxury end of the UK property market with acquisition of London retail property adviser

 
Helen Cahill
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CBRE has its sights set on the luxury end of the market (Source: Getty)

Property giant CBRE has acquired the London-based property advisory Michael Horwitz & Company specialising in luxury goods retail sector, boosting its presence in the high end of the property market.

The acquisition follows CBRE's move to buy the luxury property retail adviser Michael Peddar & Co in 2011.

Michael Horwitz & Company, founded in 1996, has a long-established client base in luxury retail brands and has been advising high-end French and Italian brands that are seeking to expand into the UK.

Ciaran Bird, UK managing director at CBRE, said: "Our strengthened team's collective expertise and relationships with many of the world's leading luxury brands, combined with our broader capability in global retail, provides a powerful advantage for clients expanding into the growing luxury goods and lifestyle sector in the UK and markets globally."

Michael Horwitz said: "London continues to be a magnet for leading international retail brands and our clients have been and will continue to be first-movers in acquiring prime locations here and in other major cities across the world.

"Becoming part of CBRE gives us access to its powerful international platform and services, and means we can now stay close to our long-standing clients and assist them with their international expansion plans.