BNP Paribas Real Estate is acquiring Strutt & Parker, the independent property partnership.
The deal is expected to be completed in September 2017.
BNP Paribas Real Estate offers a comprehensive range of services covering the entire lifecycle of a real estate assets (development, investment management, property management, transaction, advisory and valuation).
Strutt & Parker has 60 offices across the UK offering range of property services, covering all real estate assets (rural, residential, retail, logistics and offices).
Its residential, rural, development and planning teams will continue to operate under the Strutt & Parker brand, while the commercial arm of the business will operate under the BNP Paribas Real Estate brand.
Thierry Laroue-Pont, chief executive of BNP Paribas Real Estate, said: “This combination will enable us to offer our clients, all over the world, a broadened and deeper expertise as well as new, even more innovative services and solutions. In this new stage of development, we shall carefully take into consideration the expectations of both groups’ employees and clients.”
Andy Martin, senior partner at Strutt & Parker, said: “This merger not only creates attractive commercial real estate opportunities, but also opens up new prospects in the rural and residential sectors thanks to the size and strength of the group that we are creating together.”