FISHER GERMAN MERGES WITH VINE PROPERTY AND PUSHES TURNOVER TO £41M

Former Reading data centre gets £11 million upgrade

A former office and data centre at Thames Valley Park, Reading is to undergo a £11 million upgrade to provide a modern campus-style development for its tenants. Once completed, TVP1 and TVP2 will be renamed Earley East and Earley West. Having established a successful property portfolio across the United States and Canada as well completing projects within Ireland, this will be Spear Street Capital’s first project within the UK.

Earley East, on the River Thames inin East Reading on the River Thames, is equidistant between Junctions 10 and 11 of the M4.

The work is being carried out by Paragon Building Consultancy, Pinnacle ESP (M&E Services Consultants) branding company Mammal and fit out specialist Area to deliver the 85,000 sq ft project.

Two major independent property firms are merging to form a £41 million turnover multi-discipline group with offices throughout the UK.

Fisher German, which has an office in Worcester, is joining forces with Vine Property Management which manages 51 million sq ft of retail, industrial and office property.

The new group will trade under the Fisher German banner from 2020.

Fisher German, which specialises in commercial, rural and residential property as well as development, utilities and sustainable energy, has increased its turnover from £19 million to £35 million in six years.

It has merged with nine property consultancies since 2000 and now employs around 500 staff.

Vine Property Management, formed 25 years ago, manages assets of £2.7 billion. As part of the deal, Vine co-founder James Rigby will join Fisher German as a partner.

“The merger will mean we can offer a whole new range of services to clients of both companies, and also attract fresh clients with an expanded expertise in new areas”

All additional 10 offices and 100 staff will be retained.

Andrew Bridge, Managing Partner of Fisher German, said: “Vine Property Management will not only bring a proven track record and new disciplines to expand our current commercial offering but will also take us into wider geographical areas allowing for further growth.”

Vine’s management portfolio extends to more than 7,000 individual units with an annual rent roll of more than £220 million and in excess of 500 service charge schemes.

James Rigby said: “The merger will mean we can offer a whole new range of services to clients of both companies, and also attract fresh clients with an expanded expertise in new areas.”