Scotland-headquartered commercial property consultant Ryden has agreed a merger with London investment agents Mason Philips.
The merged firms will operate under the Ryden name with the London office of Mason Philips in Regent Street becoming Ryden’s base in the UK capital.
The deal increases the size of Ryden’s property management business in England, where the firm already has a Leeds office, to a portfolio with a rent roll of approximately £40 million covering 2,100 tenants.
Almost half of Ryden’s management income will come from English property and around 20% of the firm’s total turnover will be generated outside Scotland.
The merger forms part of Ryden’s strategy for growth in England and follows a merger with Leeds-based asset management firm Hill Woolhouse 18 months ago.
Bill Duguid, managing partner of Ryden, said: “It has been a cornerstone of our business planning over the last three years to continue to reinforce our market leader position in Scotland but also, beyond that, to grow the presence of our brand in England.
“Ideal partners for us are small to medium-sized owner-led practices who have grown their business on an ethos of client care.
“Mason Philips is just such a firm with a small but strong and extremely effective asset management and investment business.
“London is the gateway for the majority of property investment in the UK and this move provides both firms with the opportunity to grow their client base and market coverage.
“Mason Philips’ Edwin Braim and Alasdair Munn will provide Ryden with a very welcome London perspective which will be extremely useful in assessing further potential growth opportunities in England.”