– Coldwell Banker Commercial Affiliates announced today that it will be expanding its international presence with the affiliation of Coldwell Banker Commercial London, which has opened an office in London, marking the brand’s entrance into this key market. The expansion complements the brand’s presence throughout North America, South America, Africa, Asia, Australia and Europe.
Chris Palmer will serve as chairman of the independently owned and operated firm, Coldwell Banker Commercial London, and is joined by partners Robin Paterson and Alex Upson. Palmer brings more than 40 years of career experience in the commercial property investment industry, having previously served as regional chairman for Richard Ellis in Asia where he expanded that office network to cover China, Japan, Singapore, Indonesia, Philippines, Vietnam and India. He is also a founding member of Square Bay (Property) Limited, which provides land acquisition, planning and residential development advice, and was responsible for conducting some of the largest property transactions on record during his 40-year career.
“We are confident the London office will thrive under Chris Palmer’s leadership in light of his proven success in commercial real estate, his investment expertise and market conditions in the area,” stated Fred Schmidt, president and chief operating officer of Coldwell Banker Commercial Affiliates. “London is the gateway to the financial east and a cornerstone market in the world. Entering London and the U.K. brings new and exciting opportunities for our worldwide network.”
The U.K. market, and London particularly, has become increasingly attractive to foreign investors because of its position as Europe’s financial hub. International investors lead the commercial market while domestic investors in the U.K. focus on residential investments. The area is stable and free from market disruptions because of its strongly defined legal codes and culture of investment, with hotel and commercial space being areas of high interest.
“With increased global confidence in the British markets, we chose to affiliate with Coldwell Banker Commercial because of the brand’s well-established profile,” stated Palmer. “The London commercial market is flourishing, having traded an outstanding £30.7bn in the first half of 2015, much of which included capital coming from the U.S. and Asia Pacific. We believe prospective clients will recognize and trust the sound reputation and strong profile of the Coldwell Banker Commercial® brand and the Coldwell Banker Commercial London office should make some real waves in the London market.”