JLL, one of the world's largest residential sector companies, has announced what it calls a merger' with the single office central London sales and lettings agency W A Ellis.
Although well-known for sales in the new-build sector, including some developments in prime central London, this move now gives in a foothold in the high-fees sector of sales, re-sales and lettings.
W A Ellis currently specialises in Knightsbridge, Chelsea and Belgravia re-sales, lettings, property management and valuation. Five of the six equity partners will take up what JLL calls key roles within the larger company with a sixth moving his team into the existing residential valuation business.
The employees will integrate with immediate effect although W A Ellis will continue with its brand for what the announcement calls a period of time.
Andrew Frost, head of residential for JLL, will continue to lead the now-enlarged residential business within the UK. Guy Grainger, JLL CEO, says his firm is marrying a well-established and highly respected agency business which fits with our wider strategy.