A deal which sees GVA break into Scotland's top three property advisories.
The firm will trade as GVA James Barr. The 'strategic acquisition' creates Scotland's third largest commercial property advisory by turnover. This partnership has significantly strengthened GVA's presence in Glasgow in particular.
Rob Bould, chief executive of GVA, said, "We're delighted to acquire such a prestigious business in James Barr. This will be a truly transformational partnership for both companies. James Barr has long been at the forefront of Scotland's property scene and maintains deep rooted bonds with the Scottish corporate, private and public sectors.
At this stage in the economic cycle, this is a first class acquisition of what is undoubtedly one of Scotland's leading surveyors, which builds on the excellent client reach achieved by our teams in Edinburgh and Glasgow. "
GVA has entered a period of growth allowed largely by the restructuring of the business last year, an event which leaves us just 12 months away from becoming a debt free business as well as increasing our profits substantially, coupled with the strongest trading performances this company has seen since 2007.
These events have turned GVA into a far safer and stronger proposition. As such this business is confident, and that's why we've not only acquired James Barr, but we're also securing a number of high level appointments to grow our existing teams and offices throughout the UK."
Eric Forgie, chief executive of James Barr, said: "Having completed a strategic review of our business, it was clear we needed to upscale our operations to meet the increasing demand for our services in what has become a fiercely competitive marketplace for property consultancy and transactional advice. James Barr has traded profitably and remains debt free, as it has done continually over its 140 year history."