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GM Real Estate, headed up by two of the biggest ‘closers’ in the Property World, Tony Gibbon and Tony McCurley, are close to being taken over by Colliers International in a deal that will see the property giant enhancing its presence in the City market. The deal is believed to be at a premium price of £25m – suggesting that Colliers are keen to wrap up a deal for the company who last year rejected the advancements of CBRE.
With Colliers’ recent acquisition of H2SO, they are now well positioned in both of London’s key markets, and in McCurley and Gibbon they have two of the best placed deal makers in the City – £5bn worth of investment deals were completed between them last year. These range from the £1.1bn sale of HSBC’s head office in Canary Wharf to the QIA to the sale of the Gherkin for £726m. Further to this, Colliers are also bringing an impressive list of clients into the fold when they acquire GM Real Estate; JP Morgan Asset Management, Great Portland Estates and Argent being but a few.
Fraser Williams, Director at Morgan Pryce, believes the acquisition is a shrewd move by Colliers,
“Colliers have worked astutely with the acquisitions of H2SO and GM Real Estate, covering off both key London markets. The acquisition of GM Real Estate is especially important with the experience and expertise that comes with the company in the City market, if there is a big deal to be done it will be through McCurley or Gibbon.”
Colliers are now well placed within the London investment market and must be considered a key player – especially after this acquisition.
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.