National property consultancy Carter Jonas has acquired a West Midlands firm as part of its plans to strengthen its presence in the region.
The firm has bought industrial and logistics agency McGuinness Waddington Real Estate Ltd (MWRE) which is based in Birmingham's Colmore Row.
As part of the deal, MWRE founders and industrial experts Nick Waddington and Adam McGuinness have joined Carter Jonas as partners. The duo has more than 45 years of combined experience advising numerous developer, investor, landlord and occupier clients.
The pair will be based out of Carter Jonas' Birmingham office at Two Snowhill, working alongside Caroline Penn-Smith, who joined the firm as a partner in 2018 to expand its commercial operations in the Midlands.
Scott Harkness, head of commercial at Carter Jonas, said: "It is a pleasure to be joining forces with Nick and Adam as we welcome them to our growing team. Recognised as leaders in their field, we seized the opportunity to attract them to join our industrial team. Both Nick and Adam have played a key role in shaping the landscape of the region's industrial market and are renowned for their expertise and personable approach.
"Despite the challenges of the last two years, we see investment in people and our ability to deliver a stronger and broader commercial service offering for clients nationally as key to our future success. Alongside our existing team, I look forward to working with Nick and Adam and harnessing their insight and knowledge of this vibrant and diverse market.
"As we continue to grow the transactional arm of our business, our Birmingham office provides an excellent platform to increase our reach across the UK, sourcing new opportunities and forging new service lines."
Nick Waddington said: "After six phenomenal years MWRE had reached a natural cross roads much sooner than Adam and I had expected, with the approach from Carter Jonas coming at an opportune time. We believe this is a natural fit for the two businesses in terms of our respective client and land relationships which we will work to further expand the Carter Jonas commercial agency offering."
Adam McGuinness added: "Nick and I are looking forward to joining the Carter Jonas team and will be working to unlock opportunities for both our existing and new clients not only in the Midlands but throughout the UK.
"The industrial and logistics sector continues to outperform the rest of the UK property market and there appears to be little sign of this changing in the near future. Availability of land is going to be key and we feel we are now even better placed to service this demand."
Carter Jonas established a Birmingham office in 2016 with a team of 12.
In September 2020, the firm moved to a new, larger space in the city, having secured several new key contracts and grown its business to more than 120 people.
