Estate and land agent Savills has announced a proposed acquisition of rural property services firm Smiths Gore in a move to expand the scale of its rural operations.
Smiths Gore operates as a partnership employing 532 staff across 31 UK offices and 14 estate offices. The acquisition will mean these staff will transfer into Savills rural energy and projects (REP) division or the firm’s country residential agency business.
Mark Ridley, chief executive of Savills UK and Europe, said: “This acquisition is in line with Savills’ strategy to improve the strength and depth of skills and expertise in our rural business, as well as expanding our geographical reach to provide a truly national service."
Savills claimed rural land had now become a truly international commodity and the firms’ combined expertise would allow them to provide a full service to clients.
The firm’s REP division employs about 420 people across 27 rural offices and four estate offices. Savills as a whole employs 3,500 people.
Andrew Harle, senior partner at Smiths Gore, said: "“Merging with Savills is entirely consistent with our objectives of enhancing our offering in the rural market and developing our range of complementary agency and consultancy services.
"With Savills dedicated rural and residential divisions together we will bring a balance of strengths to boost existing teams with the ability to form new ones through Savills impressive agency and strong brand.”