Deloitte and Drivers join forces in property

Deloitte, the accountancy firm, will today announce a takeover of Drivers Jonas, Britain's oldest property advice firm. More than 650 Drivers Jonas partners and employees will join the firm as a part of the deal which will create a new "combined real estate group" with revenues in excess of £110m.

In total the new business group will boast 700 partners and professionals, significantly extending Deloitte's reach in the market.

Drivers clients include some of Britain's biggest property companies including the likes of British Land and Land Securities.

Deloitte said the real estate advisory market was worth £2bn last year and the deal would enable it to significantly expand its presence.

John Connolly, senior partner and chief executive of Deloitte, said: "We see a clear opportunity to combine the skills of our specialists in tax, corporate finance, business consulting and our real estate strategy team with the Drivers Jonas team which has an outstanding reputation for providing the highest quality independent advice in this market."