Niche firm of property and asset consultants, Edward Symmons, announces today that it has acquired renowned North East based general property practice storeys:ssp Limited.
Paul Proctor, Chairman of Edward Symmons, comments: “This is a key strategic move for Edward Symmons. It fits perfectly with our national business development ambitions. The economic climate remains challenging but we believe this is an ideal opportunity to create a robust platform for future growth whilst staying true to our niche offerings.
“Storeys:ssp gives us expert exposure and coverage within the North East property market and the firm’s specialist skills sets supplement our existing niche service provision - specifically in enabling us to strengthen our North East Agency, Rating Services and offer full property management. Our two businesses have a real shared culture and we are very much looking forward to working with the storeys:ssp team across our enhanced nationwide network of offices.
“The strength of the North East Agency team is well known and will assist our regional LPA and Corporate Recovery offering. A full management service will also dovetail nicely. It is the opportunity to expand the core business of Rating within the new network of 11 offices that provides particular attraction.”
The addition of storeys:ssp’s 71-strong team will take Edward Symmons’ total staff numbers to 285. Edward Symmons currently has a turnover of £17 million and storeys:ssp £4 million.
Founded in Newcastle in 1891, and operating from a network of five regional offices, storeys:ssp is one of the leading independent commercial property consultancy firms in the North East. Integration will be rapid, with storeys:ssp staff moving in to Edward Symmons’ offices in Leeds, Manchester and London. The storeys:ssp’s existing Tyneside and Teesside offices will continue to be the dominant regional offer, employing 59 staff. Recognising this regional strength, in these locations the firm will trade as Storeys Edward Symmons, forming part of the Edward Symmons Group.
“We are pleased to have secured this deal, and to be joining with such a well-established, highly regarded firm,” said Bill Lynn, Chief Executive of storeys:ssp. “Edward Symmons’ niche skills set directly complements our own, and the intention is to leverage off each other’s core services and regional coverage to develop our client base and increase market share. Having already developed strong relationships with the Edward Symmons team over the course of this deal, we recognise a real shared culture between our two businesses and see this as the start of an exciting new era.”
