Savills has set up a cross border European valuation team which will be based at its London offices.
William Newsom, Savills head of valuation, has recruited three directors – Nick Harris from Colliers CRE, Savills existing director Simon Orr who will transfer from the Paris office, and Chris Millington from DTZ – who will comprise the initial core of the new team.
Harris has experience valuing properties in Germany, Switzerland and eastern Europe and Millington previously worked with The Royal Bank of Scotland, Hypo Real Estate Capital and St Quintin.
Newsom said: ‘We have been inundated with requests from UK and Irish based clients who have interests in Europe, and we are therefore taking advantage of this flow of business. Our cross border team will collaborate with our European offices and liaise closely with our London based cross border investment team.’
Savills’ London-based valuation department has increased its turnover seven-fold over the last 10 years and in the past 18 months has doubled in size to 38 members. It specialises in valuations for lenders for loan security purposes, valuing commercial and residential investment and development property across the UK.