JLL, a leading real estate investment and advisory firm, has announced a merger with WA Ellis strengthening the firm’s residential capability in the central London market and creating a leading prime estate agency business.

WA Ellis is an established leader in the prime London market operating since 1868 with a particular focus in Knightsbridge, Chelsea and Belgravia re-sale, lettings, property management and valuation.

The UK group comprises six equity partners - of which five will take up key roles within the JLL agency and James Wilson, while the sixth will move his team into the existing residential valuation business.

Following the announcement, WA Ellis will become part of the JLL group that will see offices and employees integrating with immediate effect but will continue to operate under the established WA Ellis brand for a period of time.

Guy Grainger, the chief executive of JLL (UK) said the obvious strategic and cultural fit between the residential business at JLL and WA Ellis makes this a logical and attractive proposition for both firms.

"We are marrying a well-established and highly respected agency business with a global platform and this is a decision that fits with our wider strategy, making it a sensible and forward-thinking partnership for all involved," noted Grainger.

Lucy Morton, the senior partner at WA Ellis, said: “We see this as the coming together of two great companies who are culturally aligned and fully believe both will benefit from the partnership. Combining our second-to-none knowledge of this market with JLL’s global platform will ensure we are leaders in prime sales, lettings and investment for the benefit of all clients and staff.”

Will McKintosh, the director, head of residential, JLL Mena, said: "This merger complements our existing off-plan property offerings with WA Ellis’ longstanding experience in the second hand high end property market in prime central London.

"With such high demand currently for both types of properties from our buyers in the Middle East, we are quite excited to be able to offer this broader portfolio of residential real estate services," he added.

Andrew Frost, the head of residential for JLL will continue to lead the residential business in the UK, welcoming Lucy Morton to the residential executive board to lead the agency business.

"This merger is a key decision for our business and we wholeheartedly believe an essential move to take it to the next level," added Frost.-TradeArabia News Service