Savills have expanded their market coverage in East London by buying established residential and commercial estate agency and property and land management firm Currell.
Currell was established in 1990 and has offices in Islington, Clerkenwell, Hackney, Hackney Wick and Victoria Park, South Hackney. The existing Currell name will be retained for several months before being integrated into Savills.
Savills say that the ‘acquisition is seen as a key strategic opportunity for expansion.’ James Sparrow, Chief Executive Officer, Savills UK and EMEA comments: “East London offers an exceptional opportunity particularly as Crossrail comes on stream, and the area is considered to offer relative value when compared to some of London’s other neighbourhoods. The outstanding reputation of Currell, alongside its strong office network and client services, will provide a natural extension to our existing Islington, Shoreditch, Wapping and Canary Wharf businesses and allows us to respond to client demand for advice across a broader stretch of East London.”
In uncertain times for the London market this move may be seen as a bold one, but also a clue as to the future direction and fortunes of the London market. The East London boroughs generally have some of London’s lowest capital values and some commentators tip locations like Hackney and Stratford as still having further potential for capital growth.