DTZ has bought Fastighetsplanering, a Swedish property advisor, for an initial payment of £400,000.

Further payments of £160,000 over the next three years will be based on the financial performance of the Stockholm-based Fastighetsplanering business.

DTZ says that it will now be able to provide leasing services as part of its Swedish business, as Fastighetsplanering is the market leader in commercial leasing in the country.

DTZ Sweden managing director Agneta Jacobsson said: ‘The acquisition will enable us to provide clients with a more complete commercial real estate offering within Sweden.’

Fastighetsplanering will be rebranded as DTZ and become part of DTZ Sweden AB.

In July, DTZ announced that it had increased its shareholding in DTZ Sweden from 30% to 80%. DTZ Sweden has offices in Stockholm, Goteborg and Malmo, and will have a total of 60 staff including the Fastighetsplanering team.