The decision is part of a move to merge its two support centres by October. The consultation process will result in 106 surveyors across the UK losing their jobs, with a further 34 business processing staff in Birmingham also affected.
The firm has been hit by a fall in demand for valuations and surveys as a result of the decline in housing transactions. Staff were not notified about the decision to lose the Birmingham processing unit until last week, with the Preston office absorbing the Birmingham workload.
Brian Abram, head of valuation and surveying services at Colleys, says: “Regrettably, the changing nature of the market makes this move necessary. It is essential that we adapt to market conditions to ensure we are better placed to meet the challenges of the future.”
Simon White, director of London’s Chartered Surveyors & Valuers, says: “It was inevitable something like this would happen but I thought Colleys would be more resilient, given its backing and the flow of business from Halifax.”
Richard Sexton, director of business development at e.surv, says: “If this can happen to a firm as big as Colleys it shows how much the market has contracted.
“Colleys’ strength used to be that it had a single client in its parent company, but when that parent experienced difficulties Colleys was left exposed.”