Cushman & Wakefield, a leading global real estate services firm, today announced the acquisition of Knight Frank’s Sydney valuations business, which comprises 24 valuation professionals. The team will join Cushman & Wakefield’s Australian Valuations platform, and be part of the company’s global Valuations network that has executed valuations for assets in excess of US$3.7 trillion last year.
“I am delighted to welcome David Castles, Matthew Russell and the team to Cushman & Wakefield. Today’s announcement bolsters our position as a leading Valuations practice globally and highlights the power of our brand and culture to attract the best talent. With the combination of our 2,000+ global valuations professionals and this acquisition, Cushman & Wakefield is well placed to provide comprehensive solutions for clients in any market across the globe,” said Matthew Bouw, Chief Executive Officer, Asia Pacific at Cushman & Wakefield.
Effective today, David and Matthew will lead Cushman & Wakefield’s national Valuations practice across Australia. This highly respected team which sits on all four major Australian bank panels and has executed valuations for assets totalling more than US$65 billion in the last financial year, has deep and rich experience across a range of sectors including commercial, industrial, residential, banking, government, student accommodation and professional services.
Commenting on this acquisition, James Patterson, Cushman & Wakefield’s Chief Executive, Australia and New Zealand said: “This acquisition complements our local valuations platform and creates momentum for us in the valuations landscape nationally. It provides us with opportunities to accelerate the growth of the company’s broader commercial real estate business, which will in turn positively impact our clients and people. It also complements our occupier business, which is one of the strongest in the country.”
Newly appointed David Castles, Joint Head of National Valuations, Cushman & Wakefield, Australia said, “We saw an opportunity to leverage Cushman & Wakefield’s global brand, alongside a truly national platform to create additional value for our clients and career opportunities for our people.”
This acquisition, pending Foreign Investment Review Board (FIRB) approval, follows the recent acquisition of Capital Markets firm, Inc RE, in July 2018, bolstering Cushman & Wakefield’s transactional business in Australia and New Zealand.
