Belfast’s oldest property consultancy McConnell is acquired by one of Northern Ireland’s most well-known businessmen, Paddy Brennan

Belfast’s oldest property consultancy, McConnell Chartered Surveyors, is under new ownership after being acquired by one on Northern Ireland’s most well-known businessmen, Paddy Brennan.

Brennan was a co-founder of BTWShiells which was the largest independent commercial property consultants in Ireland before selling to Lambert Smith Hampton in 2014.

Under the terms of the deal, Brennan is now at the helm as managing director and over the last few months has already recruited eight former employees, to support his ambitious growth strategy, including Greg Henry, John Adgey, Amos McPeake, Rosanne Briggs, Lorna Ewart, Emily McIlroy, Joanne Kee and Bronagh Hannon.

The new members of the team bring with them a wealth of talent and experience in both surveying and finance which will bolster the firm’s breadth of experience to drive activity in the areas of investment, office and industrial markets, lease advisory along with property management and accounting.

The majority of McConnell’s former shareholders, Caroline McKillen, Frazer Hood, Ciara McCusker, Fraser McConnell and Rory Clark, remain within the business and continue to provide an all-round property service to their existing client base.

Rory Clark said: “The sale of the business to Paddy brings a welcome boost to McConnell’s, combining our loyal, strong and diverse client base, with Paddy’s wealth of experience in the property business and particularly his expertise and contacts in Capital Markets. We very much look forward to a bright future working together.”

McConnell, established in 1895 with offices in Belfast’s Montgomery Street, is in the unique position of being the Northern Ireland Alliance partner of JLL who employs over 100,000 people and one of the largest real estate advisors globally. It is hoped the Alliance will advance McConnell’s footprint with clients in other markets in particular the USA, GB, and Republic of Ireland.

Significant investment has been made as part of the acquisition, including a brand refresh, investing in people, raising the quality of industry standards in particular financial accounting systems, making improvements into our client service, and introducing new service lines.

Paddy added: “McConnell’s is an institution in the NI property sector and this deal represents a pivotal moment for the firm. We’re in a strong position to capitalise on the close alliance we have with JLL. We are perfectly placed to increase our reach and exposure to clients from other jurisdictions looking to enter the NI market and build on the reputation and experience of this established practice.

“We’re fortunate to have been able to bring together some of Belfast’s best surveying talent alongside the property finance and accounting specialists to add to the existing strong team. The challenge is to bring some fun and enjoyment back into the workplace, increase our market share and be recognised as the best in class in the different service lines within the real estate sector.

“McConnell’s recruitment policy is key to delivering this goal, people with hunger with an exemplary work ethic and ambition to succeed. The new recruits tick this box, and we hope to continue to grow and employ more people with the same attitude and values’’.