The sale of Strutt & Parker to BNP Paribas Real Estate, part of the French banking group, has completed.
The price has not been disclosed.
Strutt & Parker’s residential, rural, development and planning teams will continue to operate under the Strutt & Parker brand, whilst the commercial arm of the business will operate under the BNP Paribas Real Estate brand.
Andy Martin, who had been going to bow out of Strutt & Parker where he was senior partner, has this morning been formally announced as CEO of the over-arching company, BNP Paribas Real Estate Advisory UK. His deputy is Etienne Prongué. Guy Robinson has been announced as head of residential agency.
Other UK board appointments include those of Stephen Wolfe, head of valuation, James Farrell, head of rural, Paul Abrey, head of property management and professional services, and Simon Kibblewhite, head of residential development and planning.
Thierry Laroue-Pont, CEO of BNP Paribas Real Estate, said: “This merger is an opportunity to create a new major European adviser by bringing together the strengths and skills of two exceptional groups of people.
“Our new UK board reflects this, demonstrating our balanced business model and ability to offer clients complete coverage in every asset type, across the UK.
“For each position we have identified the best person for the job to create a leadership team that is ideally-placed to drive the growth of our new business and achieve further success for our clients. I am delighted to introduce them today and look forward to working with them in the years ahead.”