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BNP Paribas Real Estate and the Connells Group enter strategic alliance

11 January 2010

Property adviser BNP Paribas Real Estate and estate agency group Connells have entered into a strategic partnership as part of a mutually beneficial drive to grow both parties new homes business.

The strategic alliance will enable both organisations to develop new homes opportunities. BNP Paribas Real Estate will generate further land disposals and ongoing insolvency and business restructuring work and Connells will extend its strong presence as one of the UK’s biggest sellers of new homes.

Debbie Taylor, head of new homes at BNP Paribas Real Estate, comments: "The strategic alliance between BNP Paribas Real Estate and Connells Group draws on the strengths of both brand names and creates a unique partnership in the new homes marketplace. We expect growth in house prices and activity throughout 2010 and 2011 as housebuilders start to buy land and develop again, and this alliance will enable us to grow this part of our business alongside the national housing market recovery.”

Stuart Flavell, chief executive at Connells, comments: “I am delighted by the partnership between Connells and BNP Paribas Real Estate which will generate business for both parties. With strong indications of increased market activity over the next 12 months, this alliance offers us the chance to demonstrate our expertise, extend our existing portfolio of new homes and sell increased volumes of new houses and developments over the next two to three years.”

As experts in both commercial and residential development services, the BNP Paribas Real Estate Development and Residential Consulting team is a market leader in mixed-use development advice for the regeneration of towns and cities. The team also provides advice on planning, affordable housing, development and project management and has a long track record in land sales and acquisitions worth more than £600m in the last year alone.

Connells Group is regarded as the most successful estate agency group in the UK with a network of over 470 branches marketing in excess of 6,000 new homes a year.

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Further information

Notes to editors

About the Connells Group
Founded in 1936, the Connells Group, a subsidiary of the Skipton Building Society, comprises 470 estate agency branches and is the second largest wholly owned estate agency network in the UK. In addition to operating under the Connells brand, which comprises around 150 branches, the Group trades under other well-known local names including William H Brown, Sharman Quinney, Fox & Sons and Barnard Marcus

As well as residential property sales the Group is involved in a comprehensive range of housing related activities including land and new homes, lettings, surveying, mortgages, conveyancing, relocations, asset management and auctions.

 The Connells Group has been named Best Large Estate Agency at the Estate Agency of the Year awards for four of the past six years.

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