Property consultant Savills has appointed Buchanan Communications
as its first financial public relations agency.
Buchanan has been briefed to communicate to the financial community the
changing nature of Savills’ business. PR activity has until now been
handled by the in-house team, reporting to Savills managing director
Aubrey Adams.
Although Savills is principally known for the residential estate agency
which makes up half of its turnover, its commercial activities are less
well known to journalists and analysts. It also has a new major
shareholder - Asian property and investment conglomerate First Pacific
Davies which paid Savills pounds 17 million last month for a 20 per cent
stake.
This gives Savills opportunity for expansion in Asia, as well as joint
activities in the US.
Buchanan will also be involved publicising Savills’ latest venture - the
launch of its Private Finance scheme, which will make mortgages, life
assurance and pensions available to buyers of properties worth over
pounds 250,000.
Savills is generally regarded as being the third largest property firm
in the UK. Although it is dominant in the City and the West End of
London, its operations are less wide-spread in the rest of the UK and
international work has, so far, been limited.
Buchanan is in the process of being bought by another of its clients,
marketing services group WPP.
- Buchanan has also been signed up by confectioner Thorntons.
