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May 2009

Historic firms in key merger

CARTER JONAS and Dreweatt Neate, two of the UK’s longest-established property firms, have merged.

The merger results in a new property consultancy with a combined turnover of £30 million, 75 partners and more than 400 staff working from 31 offices.

But it means the disappearance of the Dreweatt Neate name from the business after a history dating back more than 200 years, although the name itself only came about in 1987. The newly-merged firm is known as Carter Jonas from May 1.

Up to the merger, Carter Jonas, whose history dates back to 1855, operated 20 offices in the North, East, Central England, Wales and London, while Dreweatt Neate operated 11 offices in southern England.

Mark Granger of Carter Jonas will be chief executive of the new firm, while David Smith, who formerly headed Dreweatt Neate, will be senior partner and John Henniker-Major of Carter Jonas will be chairman.

The firm’s management board will be made up of Mark Granger, together with Alastair Martin and Simon Pallett of Dreweatt Neate, and Scott Harkness and Tim Jones of Carter Jonas.

Mr Granger said: “The enlarged practice will have more than 400 years of combined trading experience behind it; arguably giving it one of the finest pedigrees of any business in the UK property sector.” Mr Smith added: “The synergies between the two firms were too strong to be ignored. For some time, both organisations have felt that a merger could generate significant opportunities, and we’re very excited that this is finally happening. ”