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Savills considers expanding in the UK and overseas

Savills Private Finance is considering further expansion across the UK as well as a possible change in ownership.

The brokerage has advisers in 20 locations across the country including Edinburgh, Birmingham and Manchester, as well as four offices in London.

SPF says it is continually evaluating areas in which it and its parent Savills Group are not represented and has highlighted Cardiff and Newcastle as potential locations.

Mark Harris, managing director of SPF, says: “To deal with local markets you need to be there. You can operate online or on the telephone but high net worth clients prefer to see the people they are dealing with.”

SPF has a six-strong international mortgages team based in London which arranges home finance in France, Portugal, Italy, the US and other countries.

Harris says: “Because of the international strength of the Savills Group both in terms of infrastructure and the potency of the brand, it would be possible for us to open offices in mainland Europe.

“I can imagine us sitting here in a couple of years talking about our offices in Madrid, Rome and Lisbon.”

Looking ahead, Harris says SPF could envisage a change of ownership but only if the company thought this was in its best interests.

He says: “At the moment, 75% of SPF is owned by the Savills Group and 25% by staff. There are possibilities to consider – a sale or independent flotation.

“However, if you run your business with that in mind it will all go wrong and we’ll not recruit for the sake of it. Potential buyers or investors look at the strength of management teams and profitability rather than size.”

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