Property firm CB Richard Ellis has bought niche retail outfit Michael Peddar & Company.

Michael Peddar works with retailers from the US, Italy, France and Japan among others on their launch and expansion strategies in London and across the UK.

It introduced Gap to the UK in 1985 and continues to advise the retailer on its European strategy.

It also has long term relationships with retailers including Prada, DKNY, LK Bennett, Space NK, Mulberry, Michael Kors, Reiss and Cath Kidston.

CB Richard Ellis head of UK retail Ciaran Bird said: “This acquisition adds further depth to CBRE’s full-service retail offering and will enhance our central London and regional retail platforms with their specialisation as a retail advisor for luxury goods and lifestyle brands.

“As global retailers continue to use London as a springboard into Europe, their relationships with some of the world’s top retailers, market insight, and client-focused approach make them an ideal fit with our retail team.”

Michael Peddar & Company director Eric Eastman said: “After developing our business for more than 25 years, joining forces with CBRE will give us and our clients access to an unrivalled global platform and a suite of leading property services which complement our existing operations. This will allow us to service our international clients better and support our UK clients in their ambitions to expand in Europe, the US and Asia.”