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Leeds commercial surveyors Carter and Co and Towlers confirm merger
ONE of the biggest independent agency practices outside London is being formed with the merger of two long-standing local names in commercial surveying and property consultancy.
A fifty-strong practice has been created by the merger of Carter and Co with Towlers.
The new company, headed by Andy Carter, will operate under the name of Carter Towler from 6,500 sq ft offices in Leeds city centre.
David Priestley and Tim Towler, former partners at Towlers, will join Mr Carter on a new management committee.
All current employees are being retained by the new company, which is already planning further expansion including a new head of building services.
The new practice will have a combined turnover of approx 3.5m.
Carter and Co, established 25 years ago, has been involved in many of the region's major new development schemes.
The business recently received the accolade of best industrial agency team at the Variety Club of Great Britain Yorkshire Property awards.
The partners believe the merger will allow a further strengthening of the business in Yorkshire and will help them to concentrate their efforts on providing specialist knowledge of the local markets to clients on a national, regional and local basis.
Towlers, established in 1948, was recently named most active regional agent (North and West Yorkshire) in The Estates Gazette national property awards.
Property management services represent more than half of its total business, complemented by professional and support services, and the company is responsible for administering many major management instructions throughout the north of England from its offices in Leeds.
Mr Carter said the timing of the merger was apt, with both practices celebrating major anniversaries in 2008 (25 and 60 years respectively).
The combined strengths of the two would mean the new company was well placed to weather the challenges of the current economic climate, he added.
Mr Carter continued: "The merged company will create a new independent practice of major scale in Leeds that will enable us to fully service the requirements of our wide client base and fully compete with the national practices based in Leeds.
"The two companies are a great fit for each other, with very little overlap in services or client base, and as a result..we will be perfectly placed to go forward during the current challenging trading conditions.
"The core principle of the merger is the creation of a stronger Leeds business, better able to provide the services increasingly asked of us, but with a clear focus on providing local solutions.
"A continued specialisation on Yorkshire issues is fundamental to us and we believe, more importantly, to our growing list of clients who increasingly seek a local perspective."
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Sunday 12 February 2012
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