CBRE confirms Irving Rice takeover

CB Richard Ellis has completed the widely tipped takeover of Liverpool property agency Irving Rice for an undisclosed price.

Irving Rice was founded 15 years ago by Nick Rice and Malcolm Irving and employs eight staff.

The firm's work covers a wide service spectrum and it is particularly well known in office agency where clients include Bruntwood, English Cities Fund, Gladman and Downing.

Martin Samworth, UK managing director of CBRE, said: "Liverpool has become increasingly attractive to the UK business community and Irving Rice enhances the services we can offer to occupiers and owners located in the heart of the city.

"It also reinforces our ongoing commitment to providing our clients with unmatched market insight and service capability across all UK regions."

The deal continues CBRE's North West expansion and follows the acquisition of Warrington-based industrial specialist DGi Davis George in spring 2007, headed by Tom Davis and Howard George.

Nick Rice said: "CB Richard Ellis' global platform and leading market position in the UK will substantially benefit our clients and team. We share a commitment to client service excellence and a passion for the significant growth opportunities that Liverpool and the entire North West region offer. We're delighted to be part of such a strong team."

Christine Hanson, executive director, CB Richard Ellis North West, said: "This acquisition reinforces CBRE's commitment to Liverpool and the North West region. Both companies' clients will benefit enormously from our combined expertise at a time of increased business interest in Liverpool."

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