Savills has sights set on US market after completing $260m deal

PUBLISHED: 13:40 02 June 2014 | UPDATED: 14:24 02 June 2014

Jeremy Helsby, CEO of Savills

Jeremy Helsby, CEO of Savills


Real estate advisor Savills today underscored its ambitions to grow its business in the US after completing the acquisition of commercial real estate services firm Studley.

The newly combined US business will be re-branded Savills Studley.

Jeremy Helsby, CEO of Savills plc, said: “We are delighted to complete this acquisition of Studley and are looking forward to growing the combined business in the US. This deal brings the top US tenant representation brokerage brand into the Savills Group and complements our existing leading positions in the European and Asian markets. We are now well placed to provide exceptional service to clients in the world’s key locations.”

Mitchell S. Steir, Chairman and CEO of Savills Studley, said: “This represents a significant step for both firms and our clients. As we join forces with the team at Savills, we are thrilled that we will have a stronger platform to continue our growth with a partner that shares our commitment to superior client service.”

Studley’s top 500 U.S. clients have over 9,000 locations within Savills current markets outside of the US, highlighting the tremendous business opportunities for both firms.

Savills research highlights the growing importance of US occupiers in the UK office market who, in 2013, acquired 44pc of the office space in the 50 largest lettings in Central London, which equated to 2.1 million sq ft with names including Google, News International, Amazon, Facebook and Debevoise & Plimpton. Similarly, in the M25 office market, US occupiers accounted for 26pc of the space let in the 50 largest deals totalling 600,000 sq ft with deals to Rackspace, Nexen Petroleum, Bechtel, Abbott Laboratories and NetApp.

However, it is not just London and the South East that have seen significant US occupier activity, Savills notes that the UK regions have also seen an increase in occupiers of US nationality. According to the firm’s research, across the seven, tier one regional cities (Birmingham, Bristol, Cardiff, Leeds, Manchester, Glasgow and Edinburgh) in 2013, US tenants such as Data Group, Travel Jigsaw, Jacobs Engineering, Worldpay and IBM accounted for 15% of the space let in the 50 largest deals comprising 260,000 sq ft. This compares to 11% in 2012 totalling 150,000 sq ft.

Mark Oliver, head of Ipswich, comments: “We have seen a growing requirement from US corporates throughout the UK office market over the last few years and this is a trend we only expect to become more prominent. We are very much looking forward to working with our new colleagues at Savills Studley to meet the growing needs of these occupiers and also service our UK clients who are looking to establish a presence or expand in the US market.”

Search hundreds of local jobs at Jobs24


Welcome , please leave your message below.

Optional - JPG files only
Optional - MP3 files only
Optional - 3GP, AVI, MOV, MPG or WMV files

Please log in to leave a comment and share your views with other Eastern Daily Press visitors.

We enable people to post comments with the aim of encouraging open debate.

Only people who register and sign up to our terms and conditions can post comments. These terms and conditions explain our house rules and legal guidelines.

Comments are not edited by Eastern Daily Press staff prior to publication but may be automatically filtered.

If you have a complaint about a comment please contact us by clicking on the Report This Comment button next to the comment.

Not a member yet?

Register to create your own unique Eastern Daily Press account for free.

Signing up is free, quick and easy and offers you the chance to add comments, personalise the site with local information picked just for you, and more.

Sign up now

Management Jobs

Show Job Lists

Newsletter Sign Up

Sign up to receive our regular email newsletter


A global boom in the use of smart meters is set to fuel the growth of a pioneering East Anglian engineering company after it struck a major production deal with a leading Indian manufacturer.

I’ve seen and heard quite a lot over the years, so it takes quite a bit to shock me.

Green 100


Enjoy the Green 100
digital edition


Meet the Team

Mark Shields

Business Editor


Chris Hill

Agricultural and Farming Editor


Business Most Read


Norfolk Future 50 EDP Business Awards Green 100

Business Most Commented