Global real estate practice Avison Young's UK Restructuring Solutions business will become a separate, independent entity from today (1 June 2023).
The Restructuring Solutions team, a leading real estate restructuring and recovery real estate adviser in the UK, will become Watling Real Estate and will be led by the existing AY UK management team. Avison Young said this follows similar moves by accountants Deloitte and KPMG in recent months which both sold their restructuring teams.
The business will be led by Alan Ryall, Andrew Foster and Nathan Pask and will continue to carry out a range of services to clients including lenders, accountants, FTSE listed corporate, private equity houses and public sector bodies. Watling will build on the 20-plus years’ experience developed by the team within Avison Young.
Nick Walkley, Avison Young’s UK President, explained in a statement: ““This is a client-driven move and is very much in line with the trend in an evolving market. By supporting the formation of Watling it enables the AYUK team to concentrate on the transformation and growth of our core areas of transactional and professional services business and develop our capabilities as the people for place and trusted advisor to public and private sector organisations.
“This is both an exciting and challenging time for the UK property sector as we’re seeing a great deal of change and uncertainty. With the our UK-wide network of experts, we’re extremely well-placed to help our clients navigate the months and years ahead.
“We wish Alan and the team all the best for the future and are sure Watling will go from strength to strength. We hope very much to continue to work alongside them providing complementary services to our mutual clients.”