A new entrant and a merger are changing the face of Manchester’s professional property scene.

GVA has exchanged contracts to buy Humberts Leisure, while speculation is mounting that a new niche industrial property consultancy will be formed in the city this week.

GVA will complete the Humberts acquisition later this month, creating one of the UK’s strongest leisure offers.

GVA Humberts Leisure will bring together the specialist leisure advisory expertise of Humberts Leisure, GVA’s existing hotels and leisure capability and the resources and national network of one of the UK’s leading property consultants. 

Mark Rawstron, Manchester-based regional senior director at GVA, said: “GVA has a dedicated hotel and leisure offering in the north west, so the acquisition of such a prestigious business as Humberts Leisure is of great significance to our business in the region. The leisure sector requires a highly-specialised skill set and it is important to us that we can deliver to our clients the best possible advice in these challenging times.”

The move comes as speculation mounts that Tom Davis, formerly of GVA, will launch an independent industrial property consultancy after several years working with CB Richard Ellis.

Mr Davis, Howard George, also formerly with GVA and CB Richard Ellis, and Simon Wood are expected to unveil their new venture this week.

Mr Davis and Mr George left CB Richard Ellis last autumn saying they would re-create the agency they sold to CBRE at the height of the boom in 2007.

CBRE paid more than £3m for their Warrington-based business DGI Davis George.

The consultancy was expected to launch in February, but former CBRE investment partner Simon Wood’s decision to join them is thought to have prompted the delay.

Last month it emerged that CBRE had poached Colliers International’s Mike Walker to replace Mr Davis.

Andrew McFarlane is to replace Mr Walker as head of Colliers International’s Manchester office.

*The factory and warehouse scene is among the strongest in the region’s commercial property market.

Davies Harrison, a Manchester-based industrial agency specialist, acted as joint agent in the letting of an 11,283 sq ft unit on the Wingates Industrial Estate in Bolton. Toy distributor Step 2 agreed a five-year lease for the building at £5 per sq ft.

John Harrison, a partner at Davies Harrison, said: “This letting proves that location is still an important factor to occupiers when considering new premises to which to relocate. Wingates Industrial Estate continues to be one of the region’s most popular industrial estates. This letting is also a positive sign that occupier confidence is slowly returning and people are beginning to invest in the future of their businesses again.”

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