AN established business has been taken over by an estate agency.

Newman Commercial, a chartered surveyors and commercial property consultant based on Colchester Business Park, has been bought by Fenn Wright.

Newman Commercial will continue to operate under the same name and the team will work from the same offices in The Crescent.

Newman Commercial was formed 21 years ago and has assisted many businesses on Colchester Business Park with their commercial property requirements.

However, a Fenn Wright spokesman assured these would be unaffected by the takeover, Staff at Newman Commercial have also been unaffected by the takeover, the spokesman added.

Lewis Chambers, who is head of commercial at Fenn Wright, added: “The priority for the enlarged business will be to fully meet the needs of existing and new clients and our goal is to cement Fenn Wright’s reputation as the dominant commercial property advisor in Essex and Suffolk.”

Newman Commercial is the third business to have been acquired by Fenn Wright this year.

It has also taken on Taylor and Company, a chartered surveyors based in Chelmsford.

Fenn Wright’s spokesman added: “The bringing together of the three successful entities will allow property owners, occupiers and their professional advisors access to a unique resource of market intelligence and expertise throughout Essex and Suffolk.”

A total of 150 staff now work across the nine branches.

Jeremy Newman, who is a partner at Newman Commercial, will remain in his role and contact numbers and email addresses will remain unchanged.

Newman Commercial chartered surveyors and commercial property consultants offers its services to private companies, public authorities and individuals.

The business was formed in early 1996.

Since 1996, the company has grown to become one of the leading firms of commercial property advisors within the eastern region.

Clients include East of England Co-op, Colchester Council and Crusader Holidays.

The takeover means the new firm will now offer more commercial property services including building consultancy advice, business rate guidance a well as assistance with a wide range of landlord and tenant negotiations.

As well as operating as an estate agent, Fenn Wright is a chartered surveyor and property consultant.

It has branches in Colchester, Manningtree, Stanway and Witham as well as in Suffolk.