De Mello spins out new firm after CWM takeover

The retail consulting team at CWM, led by equity partner Jonathan De Mello, is relaunching as a new firm and will not be part of CBRE’s takeover of the niche agent. JDM Retail also includes associate partner Louis Brewer and analyst Dominic Robson. It will be the only independent consulting firm to provide both retail and property strategy services. Its client base extends across retail, retail banking, retail property and public sectors. Services for occupiers include profitability modelling via multiple regression analysis and halo effect modelling to determine the true value of a store. The offer for property owners and investors includes investment feasibility analysis, occupier affordability modelling and the creation of proactive asset management strategies. Jonathan De Mello, founder and chief executive of JDM Retail, said: “As we move forward into a post-Covid world, retailers are looking to expand, and the investment markets are ramping up. “There is absolutely every reason to be optimistic about the retail and property sectors, and it is in that vein that myself and my team have decided to rebrand to JDM Retail.” CBRE struck a deal to acquire CWM last month, as revealed by EG. While CWM’s agency team is a part of the business that is entirely owned by founding partner Scott Murdoch, the consulting division was one of three operations held in joint ventures and were therefore not part of the deal. De Mello had previously worked at CBRE, where he was head of retail consultancy for four years until 2014. Before he joined CWM in 2020 , De Mello was executive director and head of retail consultancy at Harper Dennis Hobbs for more than six years. He has also held similar roles at Experian, CACI and Management Horizons. The other two parts of the business that are still in talks with CBRE as well as other parties are CWM’s out-of-town operations, launched by former JLL directors Nick McConnell and Mark Rudman in November, and the in-town investment team, led by equity partners Jim Remfry and Ben Simpson. The in-town investment team rebranded as Clifton Partnership last week, according to Companies House filings, signalling that its ties with CWM as a separate entity have ended. An update on Companies House also shows CWM Commercial Property Advisors ceased to be an entity with significant control for the out-of-town business earlier this week. To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews