Atisreal, a subsidiary of BNP Paribas, continues its ambitious growth strategy by agreeing terms to acquire Hill Woolhouse, a niche Leeds based commercial property consultancy. This will be formally concluded on 29 February. The combined company will operate from Atisreal’s Leeds office and will adopt the Atisreal brand from 11 March.
Hill Woolhouse employs 13 staff and has an annual turnover of £2.5 million. The company specialises in office agency, investment, and out of town retail. It was established by Roger Woolhouse, Charles Hill and Richard Dunhill in 1991.
The acquisition will strengthen Atisreal’s business in Leeds by increasing annual turnover to almost £5 million, with a combined total of 38 employees. Roger Woolhouse will take up the position of office head and lead an integrated management team. Stephen Macey, who has been acting office head for Atisreal since February 2007, and Charles Hill and Francis Brown will make up the four man executive team.
This latest acquisition means Atisreal will have a £12.5 million business in the north of England, with 100 employees across offices in Leeds, Manchester, Sheffield and Newcastle. In October, Atisreal recruited a team of seven from DTZ/Donaldsons in Leeds and last year gained teams in Sheffield and Manchester through the acquisition of Fuller Peiser.
Martin Coles, executive director for the regions at Atisreal comments: ‘I am delighted to welcome the Hill Woolhouse team to Atisreal. Their expertise in agency and investment compliments the existing strengths of our business in Leeds and clearly establishes us as a leader in the local market. The combined businesses provide us with the platform to deliver on our ambition for further growth of our business across the north and nationally.’
Roger Woolhouse comments: ‘Joining forces with Atisreal will enable us to offer a wider range of expertise to our clients across the northern region. I am excited about the opportunity to lead the team in Leeds and we are all extremely enthusiastic about our plans for further development of the office.’
Atisreal was advised by Alasdair Steele and Toby Morgan of London corporate firm Travers Smith, Hill Woolhouse by Peter Barton and Jonathan Asquez from Leeds and Bradford law firm Gordons.