LRG has acquired CBGA Property Management, marking the first time a dedicated commercial property management brand has joined the group’s portfolio.
The deal gives LRG an established commercial property management operation with offices in London and Birmingham, a national client base and a UK-wide managed portfolio.
Founded in 1989, CBGA provides commercial property management and advisory services across the office, industrial, retail and leisure sectors.
Its services include property management, service charge administration, client reporting, property inspections, facilities management, health and safety compliance and pre-purchase due diligence.
CBGA will continue to trade under its existing name from its London and Birmingham offices.
LRG said the acquisition would provide a platform from which to develop its wider commercial property offering.
Simon Worthington, chief strategy officer at LRG, said: “CBGA Property Management is an excellent business with an experienced team, a strong national portfolio and long-standing client relationships. Its specialist expertise across commercial property management and client accounting makes it a very strong addition to LRG.
“For clients and the team, it will be business as usual. CBGA Property Management will continue to operate under its existing name, with the same management team and the same partner-led, personal service.”
Worthington added: “As our first dedicated commercial management brand, it also gives us a strong platform from which to develop our wider commercial offering.”
Richard Turner, partner at CBGA Property Management, said: “In considering the next stage of the business, it was important to find a long-term partner that recognised the strength of our existing team and the value of the relationships we have built.
“LRG shares our focus on delivering a high-quality service and brings the scale and investment to support our continued development.”
LRG said the acquisition forms part of its strategy to partner with established businesses that have strong leadership teams, trusted client relationships and clear opportunities for sustainable growth.
Richard Turner and the existing management team will remain with CBGA.
