CBRE leads race to acquire Irving Rice

Liverpool agency Irving Rice is rumoured to be nearing a takeover by either CB Richard Ellis or Colliers CRE as regional consolidation continues.

CBRE is said to be the frontrunner in the race to acquire the practice, set up in 1994 by Nick Rice and Malcolm Irving.

Irving Rice's clients include Merseytravel, Gladman, Muse Developments and English Cities Fund at St Paul's Square in Liverpool.

A year ago, CBRE acquired industrial specialist DGi Davis George, then based in Warrington, headed by Tom Davis and Howard George.

Regional director of CBRE, Christine Hanson, said at the time that further regional buyouts were being considered by the US global giant.

All parties declined to comment.

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