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Birmingham property consultant firm Gilchrist is selling its property consulting business

Birmingham property consultancy firm GilChrist has been sold to a private equity firm.

The firm has been run by Gilchrist’s former chief executive, Mike O’Leary, for the last five years, and is expected to close its doors in June.

Gilchrist’s main property consulting clients include the Birmingham City Council and the Birmingham Development Authority, and has been a major player in the region’s housing market.

GilChrist said in a statement: “Gilchrist is delighted to announce that we have made the best sale in our history.

We will remain as part of the local business community, and continue to provide a broad range of services for our clients to ensure their businesses thrive.””

Our teams are dedicated to helping the City of Birmingham and the wider Birmingham region thrive.

We will remain as part of the local business community, and continue to provide a broad range of services for our clients to ensure their businesses thrive.”

The move follows the launch of the City’s Next Mayor competition, where candidates will be asked to identify the most innovative ideas to improve Birmingham’s transport network.

The Birmingham City Transport Commission (BCTC) has already announced it will award the winner of the competition the first $100,000 of its $1 million award fund.

The council said it will look at opportunities to support other councils’ work to help them “develop a new transport and planning strategy for the region”.

It said the decision was made to sell the firm “to enable us to continue working on a positive outcome”.

Gilchrist has been operating in Birmingham since 2013, and also worked for the City Council’s public transport authority.