Q&A with The Business Magazine

Q&A with The Business Magazine

Eddisons (Incorporating Daniells Harrison) provide a broad range of professional and project services across the South Coast and the Isle of Wight.

Having recently been acquired by Eddisons, The Business Magazine caught up with Director Chris Daniells to get his views following the acquisition and his predictions for the property industry in what could be a challenging year ahead.

You were recently acquired by property consultancy Eddisons with head offices based in Leeds. How has the first 10 months been?
Whilst there has been the inevitable niggle, principally relating to the IT changes, I think all of us would agree that the first 10 months have been remarkably pain free. Acquisitions such
as this can cause friction and unsettle even the best of teams. Eddisons have however always promised us that they would offer us help and support when needed, but would otherwise leave our established and successful business to continue operating as it has done for the last 30 years. They have done just that and I would like to think that apart from the rebranding, our clients and staff would agree that on a day to day basis very little has changed, albeit we now have the additional benefit of being part of a respected national consultancy and part of the Begbies Traynor Group PLC.

Formed in 1992, Daniells Harrison reached their 30-year anniversary this year. Can you tell us why the partnership decided to become part of Eddisons?
As with any good business, Daniells Harrison’s future growth and direction was constantly reviewed by the LLP Partners. Whilst we had created a very wide market for our services across a vast geographical area, we were also aware of our shortcomings. Whilst we were a large regional firm, we did not benefit from elements of our target markets by virtue of our size. We were fortunate enough to have attracted the attention of a number of companies, but it was clear from a very early stage that Eddisons were the perfect ‘fit’ for Daniells Harrison. Our professional services complemented and strengthened their own existing expertise and our geographical representation meant that Eddisons could achieve genuine market extension and national representation. The principle driving force behind our decision to sell was that we believed it was in the business’s best interest. I think that the first 10 months have demonstrated this to be the case.

Looking to the future, what are your expectations for the business as a whole for the next 12 months? Do you think the current cost of living crisis will affect business?
Daniells Harrison built a strong reputation for our Building Surveying skills and this is a key focus for growth, combined with the Education sector, an area Eddisons have already established an invaluable reputation as one of the lead consultancies for CIF (Condition Improvement Fund) bids. The general practice side of the business is expanding organically and we look forward to working alongside the team to share further success.

Historically myself and Richard Huffer have undertaken a large number of LPA Receivership appointments. Whilst none of us would want the property market to fall to the extent that appointment numbers dramatically increase, we are well placed and capable of dealing with this work should it arise.
Some of our services are not market sensitive, and as stated, elements of our business will increase in poor market and economic conditions. The professional valuation side of the business is market sensitive, particularly the residential survey department. Whilst enquiries to date are down, the volume of work is currently unaffected. How this will change over the next 12 months will depend on matters far beyond our control. If the market does worsen it is likely that instructions will be maintained, but, the source of the instruction will change, as companies and individuals seek to restructure finance and review their security.
Having run the business for 30 years, we have experienced a number of market downturns. The additional work envisaged by being part of Eddisons in such market conditions might not have been on all company’s checklists when considering acquisition offers, but the obvious complementary services offered by Daniells Harrison/Eddisons and Begbies Traynor resulted in it being a principle consideration for us.

One of your Building Surveyors has been shortlisted for the RICS Young Surveyor of the Year Awards, how do you feel you support your staff and encourage career development?
We are all very pleased for Annabel that she has been nominated. I think if I am honest, she is the sort of person who is likely to have been nominated wherever she worked. She is a credit to herself and the profession. As our first apprentice, the whole team have been able to provide her with support and advice to aid in her career progression. I genuinely believe that one of the benefits to our graduates and apprentices is the fact that our general practice and Building Surveying services are very broad, but the team work closely and there is a huge amount of knowledge and experience in the Old Manor House for graduates and apprentices to benefit from.