Savills acquires Dickens Watts & Dade
Savills has agreed to acquire Dickens Watts & Dade, Peterborough’s leading firm of chartered surveyors, as part of its proposed expansion in the East.Terms for Savills’ acquisition of DWD have been agreed with effect from 1st January 2007, although they are not being made public.
Peterborough and the surrounding area is earmarked for significant growth and since it was established in 1982, DWD has become a highly regarded and influential player in the local market, especially prominent in the development land sector, said Savills. The acquisition, it belives, will create a “dominant force in A1/A14 corridor.”
Richard Dade said: “The move will be good for both our residential and commercial property clients who will now have the benefit of Savills’ national capabilities backed up by one of the finest research teams in the country. We will be in the position to provide a service which is second to none in the region and our staff will have greater career prospects.”
Savills operates from more than 60 offices across the country including East Anglia and the East Midlands. The acquisition is seen as a strategically important move for both companies – expanding Savills’ geographic reach and local expertise, while adding regional, national and international weight to DWD’s existing residential, commercial, professional, management and development services.
“The combined strength and reputation of Savills and DWD will create a hugely experienced team with diverse skills to deal in the strategically important A1/A14 corridor,” says Jon Hutt, head of Savills’ commercial business in the Eastern Region.
“By bringing DWD and Savills together, we will be in an excellent position to take full advantage of the opportunities ahead both for our clients and our staff.”
William Stanton, head of Savills' Eastern Region, added: "The East of England is one of the fastest growing regions in the UK with a target of delivering around half a million homes and 440,000 jobs by 2021. Savills intends to be in a prime position to meet these challenges - the DWD deal is an important part of our regional strategy for acquisition and growth which will enable us to achieve our goal and provide an outstanding service to our clients."