UK surveyor Drivers Jonas is acquired by accountancy firm Deloitte
Britain’s £2 billion property advisory market has seen one of its oldest surveying firms Drivers Jonas acquired by the accountancy firm Deloitte.
The deal highlights the recent news that the British commercial property market is starting to pick up again, having seen average commercial property values fall close to 45% in Q3 2009.
Established over 280 years ago, Drivers Jonas will next month move their employees over to the real estate team at Deloitte.
A Deloitte spokesman stated that there would be no job losses with the merger taking place and that there would not be any capital changing hands.
The new business shall trade as Drivers Jonas Deloitte and will now have current Drivers Jonas managing partner Nick Shepherd as managing partner of the enlarged real estate group, with around 700 staff and around £100 million in annual revenues.
The news also comes at a time when in January, as buyer demand passed number of properties available for purchase, the UK commercial property market saw prices rise by 3% which is the highest monthly rise for 23 years.
