Hamilton Osborne King has linked up with CB Richard Ellis, the world's largest real estate services company, in a move which it says is a "realignment" of its global commercial association. HOK, which was formerly linked to Oncor, another alliance grouping, says the move will now give it direct access to CB Richard Ellis's offices throughout the world. The move comes as estate agents worldwide reposition themselves to provide a unified branded international service.
HOK's chairman, Ian French, stressed the need for a global approach. "As Ireland - both North and South - continues to be the leading European destination for American industry and investment and with the likely increase in pan-European property investment arising from the advent of the euro, our clients are seeking a seamless quality service and the ability to transact and advise globally," he said.
"Having regard to the recent globalisation trends in our own industry, such as CB Hillier Parker with CB Richard Ellis Services, it was vital that HOK be part of the handful of leading worldwide property advisers and our new association has enabled us to achieve that goal."
HOK said the alliance will also copperfasten its relationship with CB Hillier Parker, the British-based subsidiary of CB Richard Ellis, with whom HOK has a relationship stretching back more than 10 years. The joint fund of the two companies has been to the forefront of commercial investment for Irish investors in Britain over the past two years, according to HOK. The two companies have bought more than £100 million of properties for Irish investors - both private and institutional.
CB Richard Ellis is based in Los Angeles and employs more than 9,000 people worldwide. It operates in more than 30 countries and has 200 principal offices, including a presence in Europe, Africa, Asia and Australia. The company is quoted on the New York Stock Exchange.
HOK employs over of 130 people, with offices in Dublin, Belfast and Cork. Its fee income exceeds £11.8 million (€15 million) and provides a range of commercial and residential property services.
HOK's managing director, Aidan O'Hogan, said that his company had aspired to provide commercial property advice services to its clients on a worldwide basis, as Irish investment - both incoming and outgoing - had grown dramatically over the past five years. Donald Newell, co-chairman of CB Richard Ellis, Europe, said HOK would make a valuable contribution to the wordwide group. "This agreement cements the excellent working relationship that has been built up between CB HIllier Parker over the years," he said.
