bnp paribas

Strutt & Parker bought by French bank

Strutt & Parker, one of the UK’s oldest and most venerable estate agencies has been bought by French bank BNP Paribas. The acquisition, which is still under way, will see BNP Paribas’ UK operation with head quarters off the Marylebone Road in London merge with Strutt & Parker, which is based in Mayfair (pictured, right) and has 60 branches around the UK. Two years ago Strutt & Parker bought two estate agent rivals in Surrey and Berkshire, making it the biggest player in the rural market and third largest in residential. Strutt & Parker was founded in 1885 and operates largely in the London prime markets as well as rural markets including country estates and agricultural where it manages some 1.5 miles acres of land, but also commercial including logistics and offices. The move gives BNP Paribas a presence in almost all of the UK’s property market’s different sectors including development, investment management, property management and residential and commercial sales and lettings. Opportunity for growth Strutt & Parker’s statement about the merger suggest that the company sees its absorption into BNP Paribas as an opportunity for growth, giving it access to the bank’s huge UK and international contacts and client…