One of the UK’s largest and best known commercial property agents is being sold to a German firm.

GVA, which has 12 offices and 700 fee earners, is being sold to Billfinger, an engineering group.

The deal, which will involve a transfer of GVA’s shares to give Billfinger Real Estate 100% ownership, is expected to be completed at the end of next month.

GVA started off life nearly 200 years ago as a residential estate agent in Birmingham called H. N. Grimley & Son.

Among a large number of recent high-profile contracts has been the building of a museum for the Mary Rose Trust, and the massive mixed-use Snow Hill scheme in Birmingham.