Employees take ownership of B8 Real Estate

The industrial property agency is the latest company to make the switch to an employee-owned business.

B8 Real Estate co-founders Steve Johnson, Simon Wood and Jon Thorne have transferred their shares into an employee ownership trust. The three directors will “continue to play a long-term role in the business” according to a press release.

“Having worked hard to establish our brand and track record over the past decade, we wanted to build on our position as a leading independent force in the market,” said Thorne.

“At a time of change and market consolidation, employee ownership offers a way for our business to safeguard its independence and create a growth platform for our team.”

Thorne also said the new ownership model recognises the importance of the Warrington-based company’s 11-strong staff.

“B8RE’s strength lies in our expertise and personal service which in turn relies on the knowledge and commitment of our team,” he said. “The new structure puts our people at the heart of the business and provides a framework for longer-term growth.”

B8 was involved in more than 8m sq ft of transactions over the past year. Last month alone the agency acted for Castle Green Homes as the developer purchased 43 acres in Daresbury, represented Patrick Properties in letting the company’s 185,000 sq ft Stakehill 185, and aided Mirastar in letting 650,000 sq ft in Widnes.

B8 Real Estate is far from alone in the employee-owned trust club. Last week, Crookes Walker Consultancy announced its intention to become employee-owned. Other employee-owned companies include Liverpool-based consultancy Curtins,  multidisciplinary consultancy Hollis, Chadderton-based builder J Greenwood, and Ancoats-based Triangle Architects.