Cushman & Wakefield buys Laing+Simmons

CUSHMAN & Wakefield has bought its long time Australian affiliate, Laing+Simmons Commercial.

The New South Wales based real estate services firm which has operated in Sydney for the past 19 years will begin operations as Cushman & Wakefield.

Cushman & Wakefield’s Asia Pacific chief executive Michael Thompson said the acquisition represents a significant step for both firms.

“Australia is an important global market for Cushman & Wakefield and this strategic acquisition provides us with a strong platform from which we can expand beyond Sydney, both organically and through acquisition.

“Given our highly successful association with Robert Farrell and Tony Anderson over the last decade this acquisition was a natural step for us, made all the easier by their outstanding reputation and strong client relationships.” he added.

Farrell and Anderson, chief executive and managing director of Laing+Simmons Commercial respectively, have been named joint managing directors, Australia of Cushman & Wakefield.

Farrell said that becoming part of the respected Cushman & Wakefield brand is a tremendous opportunity.

“Cushman & Wakefield is a natural fit for us given the similar corporate cultures and shared core values. This move will provide our clients with an even higher level of service and direct access to opportunities in other markets while still enjoying the relationships they have formed with our professionals,” Farrell continued.

Anderson said he expects the transition to a global firm will be smooth with no disruption to business.

The terms of the agreement were not disclosed.

Meanwhile, the residential franchise real estate business trading as Laing+Simmons is not part of this acquisition.

Australian Property Journal