International real estate advisor Savills has today (29th June 2016) announced the acquisition of specialist residential management business Chainbow Ltd.
Established in 1989 by Chairman and Chief Executive Roger Southam, Chainbow employs 28 members of staff, all of whom will join Savills with immediate effect, including managing director, Nigel Bosworth, and associate directors Gail Lawrence and Niccie Storr.
Chainbow specialises in the residential block management, private rented and build to rent sectors providing property management and consultancy services to a range of clients including Taylor Wimpey, Englander Group and Westrock.
Mark Ridley, CEO of Savills UK and Europe, comments: “Chainbow has an established and well-respected reputation across the property management spectrum, particularly in the residential and estates arena, which will both complement and enhance our existing offer.”
Nick Herward, head of property management at Savills, says: “Property management is a key service line for our business and the integration of Roger, Nigel and their team will be a superb catalyst to augment our leading Central London offer, as well as the wider national management division. Furthermore, this acquisition demonstrates our continued commitment to providing clients with a diverse and best in class service.”
Roger Southam, Chairman and Chief Executive of Chainbow, adds: “We are very excited to be joining Savills and are looking forward to the opportunity to expand the service we already offer as part of a national team. Both companies have a wealth of experience in the property management industry, which combined, will really create a formidable force.”
In addition to Chainbow, Savills also acquired specialist London commercial property management business Collier & Madge in May 2015.