19 March 2016 – by David Hatcher
Countrywide is in talks to take on up to 80 transactional staff from Deloitte Real Estate.
The owner of Lambert Smith Hampton is one of three real estate advisory firms in the running for the team but is understood to be competing most aggressively.
The decision will be determined by Deloitte and senior staff involved in the transfer, considering a combination of the financial offers proposed by the suitors and the preference of staff as to where they want their futures to be. A final decision is due within the next fortnight.
It is expected that as a result of the competition for the team Deloitte will now receive some payment as part of the transaction.
The deal comes off the back of Countrywide attempting to buy the whole of the Deloitte Real Estate business at the end of last year. A deal could not ultimately be agreed.
Countrywide has been aggressive in its expansion of LSH since it bought the business in 2013. It has looked to bulk up the operation and create scale in its commercial advisory division and has bought firms including BTWShiells, Tushingham Moore and ES Group.
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LSH, which has its main strengths in advisory services, would see its transactional capacities neatly boosted by taking on the Deloitte staff.
EG revealed that Deloitte had begun a formal strategic review of its agency and investment businesses last month (20 February, p29).
Its West End and City agency and investment teams are likely to move as a result of conflicts arising due to being part of a big-four accountant. These conflicts could potentially hinder them from undertaking of transactional work.
The 80 staff affected include three partners: Stephen Peers, head of transactions and West End; Jamie Olley, head of City investment; and John Rodgers, head of national investments.
