Industrial heavyweights launch niche practice

Former DGi Davis George and CB Richard Ellis directors Tom Davis, Howard George and Simon Wood have launched their new business, B8 Real Estate.

B8 is the planning use class code for industrial and distribution premises, reflecting the agency's focus.

The business has been established as a limited liability partnership with the three founding partners holding one third of the equity each. B8RE will be based in Warrington and an office acquisition is close to being completed.

The firm will offer advice on investment, industrial agency, development, asset management and professional related work.

George said: "We believe there is a gap in the market for dedicated specialist advice of this nature. The three partners have a wealth of experience at both global and niche practices and will be here to provide what we do best; namely hands on advice to our clients."

The trio left CBRE at the end of last year after the completion of a three-year earn-out period. CBRE acquired DGi Davis George in 2007 for an undisclosed sum.

The B8RE partners said they maintained a "good relationship" with CBRE and would work with them on joint instructions if they arose in the future.

DGi was established in 1996 and employed six staff when it was sold. Davis said the plan is to build a similar sized team with recruitment starting in 2012.

"We believe we will have the pick of the crop when it comes to recruitment," said Davis. "We have a good story to tell and a structure that allows people to gain equity in time."

He added the practice is already busy advising institutional investors, retailers and property companies.

B8RE has raised a six-figure facility with Royal Bank of Scotland in an agreement arranged by Pauline Campbell, senior relationship manager in the St Helens office of RBS.

The firm said the Warrington base – DGi was also based in Warrington – would enable it to have good access to the core distribution market around the M62, M56 and M6.