Property agency Churston Heard has become the latest niche retail firm to be acquired in a takeover by Jones Lang LaSalle.
Churston Heard’s 80-strong team will join Jones Lang LaSalle’s retail division, increasing its staff count to 150.
Churston Heard has a significant presence in the retail market and is instructed on about 25 million sq ft (2.3 million sq m) of shopping centre space at present on behalf of a range of clients.
The move has been widely anticipated within the industry after Jones Lang LaSalle revealed it wants to bolster its retail standing.
Jones Lang LaSalle head of retail agency Stuart La Frenais said: “It is well known that we have been looking to strengthen our retail business and Churston Heard has been top of our priority list for some time. The structure of its business fits ideally with ours with its areas of strength complementing ours.”
The deal will go through next week and Churston Heard’s team will move to Jones Lang LaSalle’s London offices in Hanover Square in September.
The takeover follows hot on the heels of Knight Frank’s acquisition of Markham Vaughan Gillingham last month.
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