London: Business advisory firm Deloitte plans to create a new market identity for its combined real estate advisory practice in the UK.
Deloitte Real Estate will launch on 21 January 2013 and marks the next step in developing a multidisciplinary practice that brings together a range of capabilities and a depth of insight that is unique in the market. All of Deloitte's real estate specialists will be brought together under the new identity and at the same time the Drivers Jonas Deloitte brand will be withdrawn from the market.
Deloitte Real Estate will help clients make better informed decisions on the simplest assignments to the most complex. It brings together traditional property services with financial and business advisory expertise whilst benefiting from Deloitte's broad industry knowledge and international reach. The practice will have more than 700 real estate specialists, who generated revenues of approximately £130m in the year to May 2012.
Deloitte Real Estate will be led by senior partner Andy Rothery, a real estate advisory partner with nearly 25 years' experience at the firm. He will be working with managing director Richard Owen, currently managing partner of Drivers Jonas Deloitte.
David Sproul, chief executive of Deloitte, said, "This is an important step in the development of our real estate business and is testament to the success we have witnessed since the merger of Deloitte and Drivers Jonas. It is also a reflection of our relationships with clients, many of whom already refer to us as Deloitte Real Estate and who recognise the additional value we deliver through our unified approach. Finally, it emphasises the importance of international markets to British companies by bringing our market identity in line with our real estate practices globally."
Andy Rothery, head of Deloitte Real Estate, said, "Complex and fast changing markets mean clients increasingly need more than pure property advice. Our advisers identify and react quickly to shifting industry trends, regulatory or technology developments and changes in consumer behaviour, all of which impact investment decisions or the way businesses use their physical space. This is what Deloitte Real Estate offers and it is something no other organisation can match in the real estate market.
"There are already many examples of projects we are winning because of the unmatched services we are able to provide and we see a significant growth opportunity for our business by bringing these services together even more closely."
One example of the successful delivery of Deloitte Real Estate's capability is through its role as lead adviser to the London Legacy Development Corporation on the long term real estate and operational arrangements for Queen Elizabeth Olympic Park. Deloitte has provided organisational design, business planning, programme management, town planning, development and procurement advice in a way neither predecessor organisation could have delivered on its own.
Richard Owen, managing director of Deloitte Real Estate, added, "These are precisely the opportunities that excited both Drivers Jonas and Deloitte and led to the merger in 2010. Tremendous progress has been made in the last three years to deliver our clients a truly differentiated service by bringing together the range of skills and knowledge from across Deloitte and applying them to real estate. Today's announcement is another significant step in that direction."