Former director Daniel Lee has acquired the firm of commercial property surveyors from its founder Charles Murray.
Murray, a former associate director at Lambert Smith Hampton, launched Altrincham-based Regional Property Solutions in 1999 and has built up the firm to be one of South Manchester’s best-known surveying practices with an active commercial agency department and a property management division.
Lee, meanwhile, joined the firm from DTZ/Donaldsons in 2010 with primary responsibility for commercial agency. He became a director in 2014 and has now acquired the company in a management buyout, the valye of which was not disclosed.
Said Murray: “I founded the business when my son was just two months old. He’s now a 6’ 8” tall 22-year-old man, and RPS has similarly grown and matured over the same period.
“My brother and mother both died recently and that made me realise there’s more to life than your career, albeit a career I’ve immensely enjoyed and been proud of. It’s now time to hand the reins to the next generation that still has the hunger and drive to take RPS to the next chapter in its development.”
He added: “I’m not walking off the stage completely, I’ll be sat in the wings in a comfy chair, reading the script and available to ‘prompt’ as and when required.”
Lee takes up the role of managing director of RPS under the deal. He said: “The opportunity to buy the business, when Charles decided to take a more leisurely and well-earned approach to life, was too good to miss.
“I know the business and I have thoroughly enjoyed working alongside Charles to expand it over the last 10 years and am ready for the challenge to build on that legacy.
“The agency side, not surprisingly, has been slow during the pandemic but the management department has inevitably been very busy and we have attracted an impressive amount of new instructions in the last 12 months.” That side of the practice is headed up by management surveyor Rebecca McPartland and looks after 500,000 sq ft of property housing 250 tenants.
“Charles is still with us a few days a week to ensure a seamless transition as well as offering sage advice as we negotiate a more normal return to business activity,” Lee added.