Deloitte creates £110m real estate group

Deloitte has set up a £110m real estate arm after sealing a deal with the
UK’s oldest property advisory firm.

The firm said it aimed to create a new model in the real estate advisory
market with the addition of Drivers Jonas.

The combined Real Estate Group will have annual revenues in excess of £110m,
the firm said.

The deal will see more than 650 Drivers Jonas staff join Deloitte. Nick
Shepherd, managing partner of Drivers Jonas will become managing partner of the
Real Estate Group which will trade as Drivers Jonas Deloitte.

Shepherd will also join the Deloitte Executive.

The group will also form part of Deloitte’s wider £200m Real Estate industry
team, which specialises in providing professional services to real estate

John Connolly, senior partner and chief executive of Deloitte, said:

“The real estate advisory market was valued at around £2bn in 2009. We see a
clear opportunity to combine the skills of our specialists in tax, corporate
finance, business consulting and our real estate strategy team with the Drivers
Jonas team which has an outstanding reputation for providing the highest quality
independent advice in this market.”

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