Stephen Cowperthwaite says the acquisition of the UK consultancy by Canadian outfit, Avison Young, will offer major investment opportunities for the city region. Tony McDonough reports
UK commercial property consultancy GVA has been acquired by Canadian-based real estate business Avison Young, creating a business worth more than $1bn dollars.
And the head of GVA’s Liverpool office, Stephen Cowperthwaite, says the deal offers the Liverpool city region access to a network of global investors.
GVA has a number of offices across the UK, including a major base at No 4 St Paul’s Square in the heart of Liverpool’s central business district. The office is led by Mr Cowperthwaite, which is the principal and managing director.
Effective immediately, the two companies will combine under one unified brand, Avison Young. The deal establishes Avison Young among the top five commercial real estate advisory businesses in the UK.
As a result of the transaction, Avison Young now has around 5,000 property professionals in 120 offices in 20 countries, including France, Italy, Ireland and Norway.
GVA brings to the deal a broad portfolio of national and international clients, including UK public institutions, multinational corporations, major space users, developers, owners, lenders and investors.
Mr Cowperthwaite said: “The acquisition means that we can continue to provide a full range of commercial property advice in the Liverpool city region but, importantly, as a city dominated by its waterfront and by trade, it provides us with greater global access and massively extends our reach.
“A number of our clients are keen to talk to international investors and Liverpool is continuing to engage with investors that want to do business in the city region. We now have additional resources and capability to spread the net internationally and advise our clients, the city and the region on a global platform.”