LRG has acquired CBGA Property Management, adding its first dedicated commercial property management brand.
The deal gives the group an established platform from which to expand its commercial property services, supported by CBGA’s national client base and UK-wide managed portfolio.
Founded in 1989, CBGA operates from offices in London and Birmingham and manages properties across the office, industrial, retail and leisure sectors.
The business will retain its existing name and management team, including partner Richard Turner.
COMMERCIAL EXPERTISE JOINS GROUP
CBGA provides partner-led property management and advisory services, including service charge administration, client reporting, inspections and facilities management.
Its other services cover health and safety compliance, client accounting and pre-purchase due diligence.
LRG says it will provide the investment, resources and wider operational support needed to expand CBGA while retaining its existing client service model.
Simon Worthington (main picture), Chief Strategy Officer at LRG, says: “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.
“LRG will provide the wider support, resources and scale to help the business build on its success. As our first dedicated commercial management brand, it also gives us a strong platform from which to develop our wider commercial offering.”
EXISTING TEAM REMAINS IN PLACE
Turner says: “CBGA Property Management has grown by combining specialist commercial property expertise with a hands-on and responsive service.
“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. We are looking forward to working together and creating further opportunities for our clients and our people.”
The deal forms part of LRG’s strategy to expand its specialist property services by acquiring established businesses with experienced management teams and long-standing client relationships.
