Savills snaps up historic rural agency Smiths Gore

Savills has snapped up this historic residential and rural agency Smiths Gore which was originally founded in 1847.

Some reports say the acquisition has cost in the region of £40m, while it is believed the Smiths Gore name will probably disappear once the deal is completed.

Smiths Gore has operated as a partnership with 532 staff across 31 UK offices and 14 estate offices, all transferring into Savills Rural Energy and Projects division or its Country Residential Agency business.

Smiths Gore specialises in the management of rural property for private clients, institutions and the public sector and Savills says the acquisition complements its existing rural business.

Savills UK executive director Philip Gready - who has been at Savills for 33 years -will lead the UK REP division with Smiths Gore's senior partner Andrew Harle joining the Savills UK board.

Savills' UK and Europe chief executive Mark Ridley says the acquisition is in line with Savills strategy to improve the strength and depth of skills and expertise in our rural business, as well as expanding our geographical reach to provide a truly national service.