The move will see the two companies combine under the Avison Young brand.

The acquisition establishes Avison Young as the only privately held, Principal-led, global, full-service commercial real estate services firm and also establishes Avison Young among the top five commercial real estate advisory businesses in the UK.

To further promote the firm’s culture of partnership, Avison Young also announced the post-acquisition leadership team: Avison Young principal and UK managing director Jason Sibthorpe becomes principal and president, UK; GVA CEO Gerry Hughes becomes principal and managing director, UK and managing director, global consultancy; and GVA chair Andy Mottram becomes principal and managing director, Europe.

As a result of the transaction, Avison Young now has approximately 5,000 real estate professionals in 120 offices in 20 countries.

Alison Taylor

Mr Rose said: “This acquisition represents another milestone in our global expansion strategy, and the combination will better position Avison Young to serve our clients across the world. Furthermore, the acquisition establishes Avison Young as the global, disruptive challenger brand.

“We are now 5,000 strong, having nearly doubled our size and ability to provide clients with whatever they need, wherever in the world they need it. In GVA, Avison Young has added a like-minded UK real estate leader – a company that brings a partnership culture formed during more than 200 years in business.

“The acquisition increases our scale and presence, expands our global talent pool and reach, and enhances the breadth and balance of our services. Most importantly, the combination increases the resources that we can invest in innovation to keep our clients ahead of the curve.”

GVA brings to Avison Young a broad portfolio of national and international clients, including UK public institutions, multinational corporations, major space users, developers, owners, lenders and investors.

In the UK alone, Avison Young will now have 18 offices and 1,600 employees working with clients on the transaction and consultancy sides of the business. This includes the addition of 96 staff working across GVA’s Scottish offices in Edinburgh and Glasgow.

Stuart Agnew

Alison Taylor, principal and managing director, Glasgow, Avison Young, said: “Becoming part of the Avison Young family gives our Scottish clients access to an expanded global network. Their commitment to providing the highest level of service matches with the work of our teams and existing clients can be assured that our work continues as usual.

“The approach that has seen Avison Young grow so successfully will be rolled out, providing an enhanced market-leading real-estate service.”

Stuart Agnew, principal and managing director, Edinburgh, Avison Young, added: “There is a lot to be positive about in the current Scottish real-estate market with strong occupational and investor demand. GVA joining forces with Avison Young provides an opportunity to build on this by creating a forward-looking company that meets the needs of clients across the country and beyond.”