LONDON—Avison Young, Toronto, has acquired London-based commercial real estate services firm Haywards LLP and opened Avison Young's first European offices in London and Thames Valley in the United Kingdom.

The new London-area offices represent Avison Young's first offices outside of North America and a milestone step in the firm's ongoing aggressive global growth and expansion strategy. The acquisition brings 20 new employees to Avison Young.

Effective immediately, Haywards partners Nick Cook, Tony Oxford, Iain Rackley and Sarah Cook become Principals of Avison Young.

“This is a very exciting and memorable day in the history of Avison Young,” said A-Y CEO Mark Rose in announcing the acquisition. “Our firm's strategy has always been to use London and the U.K. as a major launch pad into Europe, and to service assignments emanating from North America. But we wanted to ensure that we found the right people, the right location and, ultimately, the right fit so that we could provide a full range of offerings and the highest level of commercial real estate brokerage, advisory and property management services to clients from the outset. We also wanted to establish our foothold with established industry leaders who have the necessary experience, knowledge and business relationships to guide us in the region.”

Over the past five years, Avison Young has grown from 11 to, now, 56 offices in 45 markets and from 300 to more than 1,500 real estate professionals across Canada, the U.S., and in Europe.

Established in 1992, Haywards, the U.K. member of NAI Global, provides full-service commercial real estate offerings that range from strategic planning and project implementation to acquisitions, dispositions, development and property and facilities management.

Nick Cook also becomes managing director of the London and Thames Valley offices and will be responsible for growing a full-service commercial real estate platform in London through recruitment and acquisition. He will also manage the day-to-day operations of the London-area offices and lead expansion efforts in London and the rest of the U.K.

Oxford will also be responsible for project management and building consultancy, Rackley will oversee real estate, and Sarah Cook will serve as vice-president of finance in London.

“In acquiring Haywards, we know that we have found the right fit with Nick, Tony, Iain, Sarah and the rest of their outstanding team,” Rose continued. “Our firms have similar philosophies and attitudes toward client care. Strong international demand and growth of our global client base drove our decision to open our first European office in London.”

Avison Young's new London office will be located at 19 Margaret Street in the West End. Meanwhile, effectively immediately, Haywards' office in Thames Valley (Hampden Chase, Little Hampden, Great Missenden, Buckinghamshire) will be rebranded as Avison Young.

The London and Thames Valley office openings complement the previous appointment of Duncan Hamilton, who has served as Avison Young's director of global client services, based in London, since 2012. Cook and his team will work closely with Hamilton, who oversees international business development initiatives for Avison Young.

London is a leading global marketplace in its own right. It has the fifth-largest city economy in the world, after Tokyo, New York City, Los Angeles and Seoul, generating more than 20% of the U.K.'s GDP. When the greater metropolitan area is included, the London region's contribution to the U.K.'s GDP rises to more than 30%. As a global city, London serves as the headquarters of more than half of the U.K.'s largest listed companies (the “FTSE 100”), and approximately 100 of Europe's 500 largest companies are headquartered and located in Central London, while some 75% of Fortune 500 companies have offices in the area. While serving as a leading global financial centre, London has welcomed more than 480 overseas banks that have offices in the city, along with many other major professional services, media, tourism, technology and retail firms.

Thames Valley is one of the most prosperous regions of Europe and home to a large number of multinational companies and innovative business start-ups. Renowned for a highly skilled workforce, beautiful countryside, proximity to London, and easy access to Heathrow Airport, the Thames Valley has become a destination of choice for business.

Wednesday's announcement came on the heels of Avison Young being named last week as one of Canada's Best Managed Companies for the third year in a row.