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Directors complete MBO at one of London’s last independent property investment agencies

Directors at Estate Office Property Consultants in Maida Vale have completed a management buy-out (MBO) in what has been described as a ‘mutual parting of ways’ with its founding directors.

Founded in 1983, the firm is one of the last remaining independent investment and development agencies in the capital, where it has been involved in over £1bn of property transactions in the last five years alone.

Now its founding directors, Nicholas Cowell, who is brother of Simon Cowell, and Adrian Levy have handed over the reigns to Directors Chaim Aziz and Daniel Minsky, who will continue to provide investment and development agency and advisory services.

Aziz, who is now Estate Office Director, commented: “The buy-out comes at a time that is right for both parties, allowing each to focus on their strengths - Estate Office will focus on agency services while Nicholas and Adrian can focus on acquisitions under a separate outfit.

“We have a loyal client base and this clean break will allow us to deliver further growth, particularly with inward acquisition into the UK for overseas investors – a key business area for us.”

This is not the end of Cowell and Levy’s property endeavours, however, with the pair now focusing on Cowell’s residential and commercial property investment vehicle, Cowell Group and Cowell Group Investors.

Following the buy-out, Cowell said that the the day has brought ‘mixed emotions’ but he was confident that the business was now in safe hands.

He said: “On the one hand, we are sad to say goodbye to the wonderful business we have groomed through both good and bad times, while on the other we are absolutely delighted to be leaving it in the safe hands of Chaim and Daniel whom we have no doubt will continue to nurture and grow this company and cement its place as London’s leading independent investment and development agency.”