TSP, the real estate investment manager, has bought Hicks Baker, a commercial real estate agency based in Reading, as part of a broader expansion plan.
All members of the senior management team at Hicks Baker will be kept on, as well as the business name. The acquisition takes the total head count of TSP to 85 from 62.
Known across the Thames Valley region for its expertise across office, retail and industrial agency, Hicks Baker works out of an office at 10-14 Duke Street in Reading.
“[The leadership team at Hicks Baker] have made an amazing contribution already in the property industry and are a massive part of why we have acquired Hicks,” Zac Goodman, CEO of TSP told CoStar News.
This deal will expand the business capabilities of the firm, which was founded as Third Sector Property by Goodman in 2009, into agency. It is part of a broader planned expansion for TSP which is in active conversations with other firms that complement its business offer across the UK.
“Over the last five years the plan has been to expand TSP into a national and international business and the snowball is really rolling up,” Goodman said, adding that the business is already in talks for further potential acquisitions across the country.
TSP made a decisive start to 2026 with the acquisition of national asset and property management firm KSA Property Consultants in January. This began an expansion of the firm’s national footprint and diversification of its sector offerings.
Goodman founded TSP at 25 years old with £25,000 of capital, he told CoStar. This followed a near 5-year stint at Goldman Sachs where he worked across FX and Interest Swaps, across London and New York, with one year in India, according to his LinkedIn page.
TSP now has nine million square feet of space under management, with blue-chip clients including Redevco, The British Museum and British Museum Estates, Goodman said.
He added: “Despite the somewhat gloomy economic weather, it feels like we’re in a moment in time in our industry where things are changing rapidly. This creates an incredible opportunity for businesses such as TSP to grow, innovate and look forward in to a changing and dynamic real estate industry. I’m as excited and passionate about this prospect as when I started the company nearly 18 years ago!"
TSP was advised by Mornington Partners.