Sotheby's International Realty UAE acquires UK business

The Sotheby's real estate business in the UK has been acquired by the brand's Dubai branch. Former owner Robin Paterson has sold UK Sotheby's International Realty to his partner and affiliate George Azar, owner of Sotheby's Dubai and the Middle East region.

Paterson said, "I am delighted to sell the business to George Azar and his team who will grow the brand in the UK and London. There are already strong synergies between the Middle East region and the UK, but these will be enhanced by sole ownership. "

Azar said the deal would be "the ultimate troika between the UAE, Saudi Arabia and the UK." He added: "This is exciting news for Sotheby's international real estate market as these regions have always had a very strong relationship and we believe that with the UK acquisition we will be able to take this three-way relationship to the next level. "

The company said there are no immediate plans to make changes to staff or the day-to-day running of the business. It was a busy start to the week for agency acquisitions, after the relocation agent network was acquired by a new company backed by agency executives. RAN owner Dwellworks has completed the sale of Realogist, founded by Simon Wale of Kerfuffle and Kevin Ellis of Thomas Mae Group.

Meanwhile, luxury real estate brand Christie's International Real Estate has partnered with Carter Jonas as its exclusive UK partner.

Lisa Simon, head of real estate at Carter Jonas, said: "Our specialists have an excellent knowledge of the London and regional real estate markets and a wealth of experience in the industry. This includes a comprehensive understanding of our clients' motivations and day-to-day reality, enabling us to provide advice from a long-term perspective. In addition, because we are a partnership, our clients can be assured that they are dealing directly with the owners of our business. "

Director for Europe, Middle East and Asia Pacific at Christie's International Real Estate Helena de Forton added: "The UK, particularly London where Christie's was founded, is a key market for Christie's International Real Estate, so it was important to find the right local partner. Carter Jonas, as a successful independent advisory firm built on superior client service and personalized attention, epitomizes the Christie's International Real Estate brand, and we are pleased to add them to our network of luxury partners around the world. "