MMX Retail and Fawcett Mead agree merger

Niche retail and leisure agents MMX Retail and Fawcett Mead have merged to create a practice called FMX Urban Property Advisers. The merger, which took place this week, staffs 20 people. It will provide a full range retail, leisure, F&B and urban property advisory service. MMX Retail was founded in 2010 by former Blair Kirkman and Savills directors David Jinks, David Justice and Nick Symons. Fawcett Mead was founded in the same year by James Mead and Graham Fawcett, former European directors at JLL.  MMX has historically focused on leasing and asset management services and landlord and tenant advice, while Fawcett Mead specialised in retail investment. The latter has advised on more than 1,000 retail and leisure investment sales and acquisitions in the past decade. FMX will combine its two London offices in the near term. Operations in Bristol and consultancy support in Yorkshire will remain in place. Clients include Marks & Spencer, EE/BT, Smiggle, Moss Bros, Federated Hermes, Hammerson, the Crown Estate, Columbia Threadneedle Investments, CBRE Global Investors, Legal & General, DTZIM, USS, Kennedy Wilson, Ellandi and abrdn, as well as a number of local authorities. The firms said that as they both operate in all sub-sectors of the retail and leisure market but weighted to different parts, the merger “provides the opportunity to balance key business areas and become a more dominant market presence”.  David Justice, partner at FMX, said: “This merger is a perfect example of the product being greater than the sum of its parts. “Our longstanding association with the team at Fawcett Mead and the natural likeness of our business culture, values and client delivery approach has made for a very comfortable coming together of like minds that will ultimately result in the delivery of a greater level of expertise and opportunity for our combined client base.” He added: “The retail and leisure market has changed beyond recognition over recent years but ultimately the value of our experience and the connections we bring to the table as a collective firm is significant. Both firms benefit from being agile and in a position to respond to the seismic changes of recent times.  “Fawcett Mead and MMX Retail proudly cite loyal client relationships and deep knowledge of the sector as key ingredients in the success of their businesses; that bedrock for future growth has only become stronger as a result this collaboration.” Graham Fawcett, partner at FMX, said: “The retail market remains challenging but this presents a great opportunity for well-advised investors. Now more than ever, investments need to be made with the benefit of live market context and experience.  “The combined skill set and knowledge base of the two businesses we have shaped, which draw upon our history working for big name agency practices earlier in our careers, allows us to deliver that experience honestly and always in the interests of those we represent. “We have worked side by side on a number of instructions over the years and it is this mutual understanding that initiated the talks of a merger.” He added: “We have always had the utmost professional respect for the MMX team. They have a longstanding reputation as the best-in-class in their field and this fit allows the new, wider team to provide unrivalled advice across the sector. Our shared ambition, cultural fit and passion for client service makes this a very exciting time.” To send feedback, e-mail pui-guan.man@eg.co.uk or tweet @PuiGuanM or @EGPropertyNews Image: FMX/Redwood Consulting