Savills has today (31 January 2011) announced the acquisition of specialist London retail agency Thomas Davidson & Partners.
Thomas Davidson & Partners has been established for 20 years and employs 16 staff all of whom will join Savills with immediate effect. Its equity partners Paul Endicott, Peter Thomas, Anthony Selwyn and Richard Ingham together with partner Erol Ezen have a combined total of over 100 years experience in the retail property arena, focusing on retail agency and lease advisory services. Clients include Shaftesbury, Aviva, Derwent London, Grosvenor Estate, ING Real Estate, Land Securities, Scottish Widows, HMV, Itsu, Pret à Manger and Waterstones.
Most recently, Thomas Davidson & Partners has concluded a number of high profile deals on Oxford Street and Bond Street including the 140,000sq ft letting to Primark, Disney’s relocation to larger premises on Oxford Street, the sale of HMV’s lease for £13.75m and lettings to Chanel, Mulberry and Coach. Thomas Davidson & Partners’ profile extends throughout the West End focusing on prime locations, most notably acting for Shaftesbury Estate on its Carnaby and Covent Garden Estates including the final phase of the St Martins Courtyard lettings.
Mark Ridley, Chairman of Savills Commercial, says: "Thomas Davidson & Partners is at the forefront of the retail market helping shape the country’s leading high street, Oxford Street, as well as other key destinations in Covent Garden and the City of London and has negotiated some of the largest retail transactions seen in recent years. The team have an outstanding track record on agency and professional work and having worked on deals with many of our existing team, will complement them by significantly strengthening our Central London retail business."
Paul Endicott, of Thomas Davidson & Partners, adds: "Savills provides us with access to a much wider client base, both UK and international and combined with our expertise in the London retail market, this offers us a tremendous opportunity to move onto the next level.
Over the last year or so there has been unprecedented demand for prime retail investments and a specialist knowledge of this market is crucial to clients. Thomas Davidson & Partners has this expertise and, coupled with Savills dominant position in the investment market, both sides believe this can provide an excellent platform for the future."
Chris Blair, head of UK retail at Savills, comments: "London retail markets have seen low vacancy rates and strong rental growth with many record prices paid. With this outperformance likely to continue, it is an area that will remain hugely popular both with international retailers and investors. Thomas Davidson & Partners’ specialist expertise and knowledge will be a great addition to our armoury and will blend extremely well with our existing retail team to the benefit of their clients as well as ours."