A SCOTTISH commercial property consultant that has advised on a range of high-profile deals has been acquired by a major international player.

Dougray Smith, which worked on the sale of major sites at Candleriggs in Glasgow and Haymarket in Edinburgh, has been snapped up by CBRE.

The Edinburgh-based firm, which was established by sector veterans Chris Dougray and David Smith nearly 10 years ago, acts as a development, funding and investment advisor on large projects, including offices, hotels, build-to-rent, co-living and student housing developments.

Deals it has also worked on include forward-funding for two pre-let hotels at Custom House in Glasgow for £80 million, and a 259-apartment build-to-rent development on Lionel Street, Birmingham.

Dougray Smith will be integrated into the UK advisory business of CBRE, which is headquartered in Dallas and operates in more than 100 countries. Mr Dougray will assume the role of executive director, head of development for Scotland, while Mr Smith becomes executive director and head of the Glasgow office.

Mr Dougray said: “We are genuinely excited about the opportunities which joining forces with CBRE offers, both in Scotland and beyond as we utilise the premier global capabilities that CBRE can offer.”

Mr Smith noted: “Combining our expertise with CBRE’s market leading Scotland business, will enable us to offer a broader variety of services to both our longstanding and new clients.”

Ciaran Bird, divisional president for advisory services and chief executive for UK and Ireland at CBRE, said: “This is an exciting acquisition for our Scottish business, which will bolster our capabilities across a variety of sectors.

"Chris and David are leading professionals with a strong track record and deep client relationships, and it gives me great pleasure to welcome them to the firm.

"We have now completed three acquisitions this year, as we continue to enhance our services and secure the strongest talent in the market.”