Cushman and Wakefield is to relocate its valuations teams in Manchester and Birmingham in a move that could leave four staff without jobs.

It is thought that the property services firm has made the positions redundant - two jobs from each office including that of partner Mike King - as a result of reduced lending by banks on property outside of London.

The responsibilities of the four positions will be undertaken out of Cushman's London offices. In EMEA, the firm employees 150 staff in its valuation team.

Cushman declined to comment.