Office agency Kontor is set to acquire Hedge Real Estate in a deal that will see the firm expand from working solely with tenants into landlord advisory.
The boutique agency, which specialises in office leasing in London and New York, will take on Hedge under the Kontor brand to form a tenant and asset owner advisory firm covering the traditional, managed and flex office markets.
Hedge’s clients include the Crown Estate, Derwent London, Pollen Estate, GPE, The Office Group and British Land. The company was set up three years ago by Andrew Gibson, Paul Gold and Ben Orchard-Smith. All staff will move across as part of the takeover and work from Kontor’s Fitzrovia offices.
The deal, structured as a share swap, will take place as Kontor founder James Townsend buys out partner Luke Appleby, with whom he co-founded the business in 2014. Shares in the enlarged business will then be given to key employees.
Townsend said: “For years we have turned down opportunities to represent asset owners so we could focus on giving the best service possible to occupiers. Through this acquisition, we can now offer asset owners the transformational solutions they’re after.”
Hedge’s Gibson added: “The acquisition is the logical coming together of two entrepreneurial companies, which collectively have a more powerful offering for both asset owners and occupiers.”
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