King Sturge goes shopping for Leslie Furness
03 January 2008
Retail property specialist acquired as King Sturge grows shopping centre leasing and professional business.
King Sturge LLP has announced that they have acquired retail property specialist Leslie Furness & Co Limited to create an integrated retail business that will deal with all aspects of shopping centre leasing, occupational agency, investment, professional work, development consultancy and shopping centre management.
The six former Directors of Leslie Furness will become Partners of King Sturge LLP with immediate effect. James Hall and Tim Hance will take up senior positions within the professional and agency teams respectively and the entire team of 17, will relocate to the International Headquarters of King Sturge at 30 Warwick Street, London, W1, complementing the existing retail business structure and providing expertise at both a national and local level through three dedicated teams covering the South East and Midlands, Northern Region and South West and Wales.
King Sturge has seen the growth of their shopping centre leasing and professional business as a key strategic objective for some time, cementing the significant growth already experienced over the last 10 years. The intention is to continue to expand the team focussing on the core shopping centre sector whilst generally expanding into mainland Europe.
Mark Stupples, London Managing Partner at King Sturge commented: “We believe that the acquisition of Leslie Furness provides a real opportunity to grow our market share. With the number of consolidations taking place within the retail property sector we can provide a real independent alternative with a robust base to support a diverse list of clients in helping them fulfil their objectives by well considered and managed delivery”.
James Hall, Managing Director of Leslie Furness confirmed: “Joining King Sturge, an independent Partnership, will allow us to remain true to our core values of providing quality strategic advice backed up by research with a full business understanding of our client’s aims and objectives. We look forward to working closely with our new colleagues and the enlarged client base which includes Land Securities, Centros Miller, Multiplex, Modus, Natuzzi, River Island, Arcadia, Waterstones, HMV, Vision Express, Boots and Thomas Cook.”
Charles Miller, Head of UK In-Town Retail Markets at King Sturge, said: “We are delighted to have attracted a leading retail company which is a highly recognised and regarded operator in the retail sector, with close links to both retailer and property companies. By combining forces we will become a significant player within the sector with a proven track record on delivery of high profile projects, including: Eden, High Wycombe; Whitefriars, Canterbury; Victoria Quarter, Leeds; Fremlin Walk, Maidstone, and mixed-use retail led developments in the pipeline to include Northern Quarter, Dublin; Northern Quarter, Portsmouth; Delamere Place, Crewe; Evolution, Corby; Lewisham Centre; and, W12.”
Tim Hance, Director responsible for Agency at Leslie Furness commented: “King Sturge has ambitious plans for their retail business which mirrors our own and we are now looking forward to pursuing these together”.
Martin Crossley, Head of UK In-Town Retail Leasing at King Sturge was instrumental in bringing the opportunity forward. He commented: “I have known Tim Hance and Leslie Furness well for a number of years and I am very much looking forward to jointly leading our Shopping Centres and High Street Retail leasing activities across the UK.”
