A merger of retail and leisure specialists, MMX Retail and Fawcett Mead has taken place this week, bringing together the expertise of 20 respected industry figures. The new amalgamated practice – FMX Urban Property Advisers (“FMX”) – provides a full range retail, leisure, F&B and urban property advisory service.
MMX Retail and Fawcett Mead were both founded in 2010, with a core objective to deliver responsive and senior consultancy to the retail market. MMX Retail’s reputation for nimble, trusted leasing and asset management services and market-leading landlord and tenant advice provides a complementary offer to Fawcett Mead’s established reputation as a leading retail investment agency in the UK. Fawcett Mead has advised on over 1000 retail and leisure investment sales and acquisitions in the last 10 years.
With both firms operating in all sub sectors of the retail and leisure market but weighted to different parts, the merger provides the opportunity to balance key business areas and become a more dominant market presence. In turn, this will allow the team to ably support clients across more than one discipline and paves the way for further and more wide-ranging growth of the combined business.
FMX will combine its two London offices in the near term. Operations in Bristol and via consultancy support in Yorkshire will remain in place as the firm cements its combined reputation for true national experience and insight, thanks to a portfolio of retail and leisure instructions that spans the length and breadth of the UK.
David Justice, partner at FMX, said: “This merger is a perfect example of the product being greater than the sum of its parts. Our longstanding association with the team at Fawcett Mead and the natural likeness of our business culture, values and client delivery approach has made for a very comfortable coming together of like minds that will ultimately result in the delivery of a greater level of expertise and opportunity for our combined client base.
“The retail and leisure market has changed beyond recognition over recent years, but ultimately the value of our experience and the connections we bring to the table, as a collective firm, is significant. Both firms benefit from being agile and in a position to respond to the seismic changes of recent times. Fawcett Mead and MMX Retail proudly cite loyal client relationships and deep knowledge of the sector as key ingredients in the success of their businesses; that bedrock for future growth has only become stronger as a result this collaboration.”
Graham Fawcett, partner at FMX, added: “The retail market remains challenging, but this presents a great opportunity for well advised investors. Now more than ever, investments need to be made with the benefit of live market context and experience. The combined skill set and knowledge base of the two businesses we have shaped, which draw upon our history working for big name agency practices earlier in our careers, allows us to deliver that experience honestly and always in the interests of those we represent.
“We have worked side by side on a number of instructions over the years and it is this mutual understanding that initiated the talks of a merger. We have always had the utmost professional respect for the MMX team. They have a longstanding reputation as the best in class in their field and this fit allows the new, wider team to provide unrivaled advice across the sector. Our shared ambition, cultural fit and passion for client service makes this a very exciting time.”
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