Mason Philips, the London investment agents, has agreed a merger with Scotland-headquartered commercial property consultant Ryden. The merged firms will operate under the Ryden name with the London office of Mason Philips in Regent Street becoming Ryden’s base in the capital.
The deal significantly increases the size of Ryden’s Property Management business in England, where the firm already has a Leeds office, to a portfolio with a rent roll of approximately £40 million covering c. 2,100 tenants. Almost half of Ryden’s Management income will come from English property and around 20% of the firm’s total turnover will be generated outside Scotland.
Clients of Mason Philips will benefit from access to Ryden’s full-service advice and regional expertise, while Ryden clients will have access to Mason Philips’ specialism in asset management and investment, predominantly in London and the South East. The deal is expected to increase Ryden’s investment activity in England three-fold within the next two years.
The merger forms part of Ryden’s strategy for growth in England and follows a merger with Leeds-based asset management firm Hill Woolhouse just over 18 months ago.
Bill Duguid, Managing Partner of Ryden, said: “We have a large and growing number of English-based clients who know and value the service levels Ryden provides. It has been a cornerstone of our business planning over the last three years to continue to reinforce our market leader position in Scotland but also, beyond that, to grow the presence of our brand in England.
Ideal partners for us are small to medium-sized owner-led practices who have grown their business on an ethos of client care. Mason Philips is just such a firm with a small but strong and extremely effective asset management and investment business.
London is the gateway for the majority of property investment in the UK and this move provides both firms with the opportunity to grow their client base and market coverage. Mason Philips’ Edwin Braim and Alasdair Munn will provide Ryden with a very welcome London perspective which will be extremely useful in assessing further potential growth opportunities in England.”
Edwin Braim, Asset Management Director with Mason Philips said: “We are delighted to be merging with a firm which shares our own core values and feel that clients of both firms will benefit from our different but complimentary regional specialisms, which will provide an exciting basis for future growth.”