Leading commercial property agent CBRE NI, a member of the CBRE affiliate network, has adopted an innovative new ownership model that will ensure employees benefit fully from the future growth of the company.
The business has established an Employee Ownership Trust (EOT), becoming one of a growing number of Northern Ireland firms to embrace this model. Mills Selig and Maneely McCann advised on the structuring of the deal, which marks a significant milestone for CBRE NI.
Under the arrangement, the EOT acquires shares in the company on behalf of employees, who become beneficiaries of the trust. Alongside this, a new shareholding has been created for qualifying directors through an Enterprise Management Incentive (EMI) scheme.
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CBRE NI Managing Director Brian Lavery and fellow main board directors Gerard McCann and Robert Ditty have retained a significant shareholding, and remain in their current roles.
Mr Lavery commented:
“CBRE NI is Northern Ireland’s largest commercial real estate services and investments company, and our priority is to future-proof the business to ensure we deliver on our long-term strategy.
“Moving to an Employee Ownership Trust marks an exciting innovation for our business, enabling us to grow further while enhancing our reputation and rewarding the people who make our success possible. It moves away from the more traditional partnership ownership model which was previously prevalent in the professional sector.
“For our clients, it is very much business as usual, with the added assurance that those driving our achievements will now share directly in the company’s future growth.”
As part of CBRE’s global affiliate network, CBRE NI operates as an independent company, providing market-leading services, insights and data spanning every dimension of the industry.
With a dedicated workforce of 47 employees, CBRE NI creates solutions for clients of every size and in every sector, providing strategic advice and execution for property investment, sales and leasing; tenant representation, corporate services; facilities management, property and project management; appraisal and valuation; development services; lease consulting, together with research and consulting.
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Mr Lavery added:
“Establishing the EOT will be a game changer for CBRE NI, designed to reward our employees and recognise the essential role they play in our continued success.
“Working in partnership with Mills Selig and Maneely McCann has enabled us to deliver a structure that meets all of our objectives, and we are confident it will bring long-term benefits for our people, our stakeholders, and most importantly our clients.” For more information, please visit www.cbreni.com
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