Friday, April 8, 2011

CB Richard Ellis (CBRE) and Countrywide today announced the signing of a UK-wide agreement to utilise both CBRE's commercial property expertise and Countrywide's position as a leader in the UK residential property market.

The agreement will combine the resources of Countrywide, theUK's largest residential property services group, which operates the widest network of new homes, estate agency and lettings, with CBRE's market-leading capability in residential-led mixed-use development. One of the key client benefits is the unparalleled insight offered by both CBRE and Countrywide.

The agreement launches this month and is an extension of CBRE's long-standing relationship with Hamptons International, which will now include Countrywide's 1,300 offices and dedicated teams of land advisors, financial services consultants, new build and social housing specialists.

Countrywide will deliver all-round project marketing services including advice on all aspects of sales, rental, investment, financial and property management for new houses and apartments, using its high street infrastructure to maximise CBRE's unit sales capabilities.

Martin Samworth, Managing Director, CB Richard Ellis UK, said:

"This agreement with Countrywide is part of our core strategy to expand our presence in the residential market. Through our residential business, headed by Mark Collins, CBRE is providing project marketing advice in Central London whilst outside of this area, our agreement with Countrywide will enable clients to benefit from their unrivalled regionalUKnew homes sales network. This is a perfect fit for both businesses and, most importantly, our clients." 

Grenville Turner, CEO, Countrywide, said:

"This agreement is an industry first and brings together two of the largest players in the UK property market. This agreement underpins our aim to provide housebuilders, housing associations and registered social landlords, who are playing an ever increasing role in the provision of housing in the country, with advice on all aspects of new build sales and marketing.

"Countrywide agents are responsible for one in 10 of all UKhouse sales and cover all markets and price points. By combining the knowledge and skills of Countrywide agents and CBRE, we will provide an exciting and powerful proposition in the residential market for new and existing clients."
Press Contacts:
Caroline Somers       
Head of Communications

About CB Richard Ellis

CB Richard Ellis Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services firm (in terms of 2010 revenue). The Company has approximately 31,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CB Richard Ellis offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.

About Countrywide

Countrywide is the UK's largest and most successful estate agency and property services Group, operating more than 1,300 associated branches across England, Scotland and Wales.

Countrywide's network of expertise helps more people move than any other business in theUKand is a leading provider of estate agency, lettings, mortgage services, land and new homes, franchising, auctions, surveying, conveyancing and corporate property management services.

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07721 439043

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