Wragge & Co LLP Real Estate Group has completed its first major corporate-level assignment for global real estate adviser DTZ.

A team led by partner Lee McBride advised DTZ on the property elements of its acquisition of privately owned, UK-based property consultancy Donaldsons LLP. The deal value comprises an initial consideration of £39.8 million plus deferred consideration of up to £8.8 million.

The deal brings together two well-known names in European real estate. It reinforces DTZ's position as a top global property consultancy, ranked in the top two in the UK and top three in Europe.

Lee McBride said: "Working with a well-respected industry name like DTZ supports our reputation as one of the UK's best real estate practices. This deal marks a new stage in our relationship with DTZ, growing from the asset management advice to a wider role."

The Wragge & Co team included specialist transactions experts associate Stephen White and solicitor Victoria Perry. They worked alongside Sarah Singleton, Group Facilities Director at DTZ and corporate law adviser Clifford Chance. Addleshaw Goddard acted for Donaldsons.

DTZ is one of the world's leading real estate advisers, providing innovative real estate and business solutions. It employs 11,000 people operating from 140 cities in 45 countries. Earlier this year, it appointed Wragge & Co's specialist Asset Management Team to handle the ongoing strategic management of its UK property portfolio following a competitive tender.

Headquartered in London, Donaldsons employs 910 staff across the UK and continental Europe. It provides property advisory services across a broad range of clients. All 33 equity partners will join DTZ, taking up positions as directors in the combined organisation.

Wragge & Co's 27-partner Real Estate Group is one of the largest full service real estate practices in the UK.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Michelle Dolphin on +44 (0)121 213 2369

This press release may contain information of general interest about current legal issues, but does not give legal advice.