Firm enters talks with Cushman & Wakefield over international FM joint venture

EC Harris is set to rubber stamp a joint venture facilities management operation with agency giant Cushman & Wakefield next month.

QS News understands the two firms are in advanced discussions over the new set-up, which would operate across Europe, the Middle East and Asia.

Sources close to EC Harris denied the joint venture - to be called Corporate Occupier Solutions - was the first step to a full-blown merger between the two firms.

David Sparrow, EC Harris' global property head, has been leading the joint venture talks with Cushman & Wakefield, which has 58 offices around the world and employs more than 11,000 staff.

A source close to EC Harris said the new venture would be a "one-stop shop for corporate occupiers".

"The firms will look at opportunities and decide on whether they are best served by the individual firms themselves or the joint venture," the source added.

We will look at opportunities and decide on whether they are best served by the individual firms themselves or the joint venture

Industry source

EC Harris first started working in the FM business 20 years ago and its clients include HSBC and UK Courts, while Cushmans offers FM advice in America.

The move is part of EC Harris' shift away from just offering core QS services. The firm has recently started to pitch for major PPP schools work as an equity stakeholder, rather than as a consultant, and is also leading a team of contractors bidding to build future City Academy projects.

The firm posted a 50% jump in pre-tax profits to £25m for the year to 30 April 2005, while turnover for the period was up 13% to £164m.

• EC Harris is expecting to move to new headquarters in central London by the end of the year. The firm is moving from its current office in Tavistock Square, near the site of one of last year's July 7 terror bombs, to a new building in Kings Cross, for which the company worked as QS. "The property is an ideal location for our London office, and it matched our very strict requirements," said chief executive Philip Youell.

Source

QS News