Global brokerage Newmark is set to recruit a senior duo in the United Kingdom to help it create a life sciences division, CoStar News understands.
Market sources said Newmark is in the process of recruiting Paddy Shipp to run the team. Shipp is a director in brokerage JLL's office team and head of United Kingdom life sciences agency.
CoStar News also understands that Newmark is separately recruiting Rupert Dando, an associate director in the London and OxCam Science Markets, development and leasing team at Savills.
Newmark, one of the world's largest real estate brokerages, has been rapidly building its business across the United Kingdom and now Continental Europe in recent years, via acquisitions as well as senior recruits.
In the United Kingdom, Newmark bought leading retail adviser Harper Dennis Hobbs, City powerhouse BH2 and national adviser Gerald Eve, with the latter two both revealed by CoStar News.
This week Newmark confirmed it has recruited senior German practitioner Marcus Lütgering to lead its efforts building out the firm's German business, in a move first revealed by CoStar News in August.
In March, Newmark CEO Barry Gosin told CoStar that the brokerage planned to recruit brokers and expand globally during the downturn.
It has now established a regional headcount of approximately 1,000 professionals throughout Europe in less than three years and generated approximately $300 million in annual revenues from its Europe, the Middle East and Africa, or EMEA, operations over the 12 months that ended June 30, the group said.
It reports that 13.4% of its revenue over the same period was generated by the company's non-United States businesses, up from less than 5% in 2021, largely driven by brokerage, sales and leasing advisory acquisitions and strategic hires throughout the United Kingdom. The company recently established its Paris, France flagship office.
Newmark and JLL declined to comment.
Savills confirmed Dando's departure.
Tom Mellows, head of United Kingdom science at Savills, said in a statement: “Rupert has been a valued member of our market leading science team and we wish him the best for the future.
“Savills continues to commit to investing and scaling our services focused on the science market, both in the UK and globally with new dedicated specialists across the Golden Triangle, working in capital markets, leasing building & project consultancy and management. We look forward to continuing to grow the team, with further expansion to be announced imminently.”