CB Richard Ellis in talks to swallow Liverpool agent Irving Rice
CB Richard Ellis is in early talks to buy Liverpool property services specialist Irving Rice to continue its expansion into the UK’s regional markets.
The global company is thought to have made an initial approach to the agent about buying it, but no deal has been agreed yet.
Irving Rice was founded in 1994 by Nick Rice and Malcolm Irving, who are both well-known figures in the Merseyside market.
The company principally operates in the north-west of England and north Wales, providing a range of property services in the industrial, office, retail and leisure sectors.
It is particularly well known for its agency work, advising clients such as Mersey travel, Gladman, Muse Developments, English Partnerships and Legal & General.
CBRE is not the only company vying to buy Irving Rice. The agent has also been approached by Colliers CRE, which is looking to expand into the north-west.
If a deal does take place with CBRE, it will further cement the company’s growing reach.
It has already bought several regional firms, such as the 40-strong Birmingham and Leeds-based agent GSD.
A spokesman for CBRE said the company did not speculate on market rumor.
Irving Rice was unavailable for comment.
Property Week, 11.04.08