A one-stop shop for the super-rich looking for wealth and investment advice, access to international top-end trophy real estate and luxury assets gleaned through the world-famous Sotheby's auction house has opened in London.
UK Sotheby's International Realty, which was recently acquired and relaunched under George Azar, the chairman and chief executive of Dubai and Saudi Arabia Sotheby’s International Realty, has launched a new service for ultra-high-net-worth (UHNW) people and multifamily offices which brings together access to the world’s finest trophy real estate, luxury assets in fine art, jewellery and cars as well as wealth, investment and legal advice under one roof.
The Family Office, led by its founder, Marcus O’Brien, will act as a singular point of contact for global UHNW clients for services at the highest levels of UK Sotheby’s International Realty, Sotheby’s Auction House, the classic car auctioneers RM Sotheby’s and Sotheby’s Financial Services.
“The Family Office will be a bridge for this network and provide clients with senior-level expertise and a comprehensive understanding of global luxury markets, allowing us to provide a truly exceptional and bespoke service to our esteemed clientele while unlocking global investment opportunities,” said Mr O’Brien.
'Enduring value'
Through the Family Office, UHNWIs will be able to buy and sell international high-end and best-in-class assets privately and discreetly, because the majority of assets such as multimillion-pound mansions, jewellery and cars will not come on to the open market.
Mr Azar said The Family Office aims to build “enduring value” for UHNWIs in their “pursuit of acquiring and managing the world's most coveted trophy real estate and luxury assets, not available through other sources or the open market”.
The launch of The Family Office is the latest move by UK Sotheby’s International Realty which was relaunched after Mr Azar acquired it last year.
Unlike many other firms competing in the trophy real estate market, like Savills and Knight Frank, Sotheby's Real Estate runs along a franchise model, and because Mr Azar owns both the Dubai and Saudi Arabia International Realty operations, the Family Office will have a unique connection to UHNWIs in the Gulf region.
According to Forbes, there are now 2,781 billionaires, 141 more than last year. The Family Office points to research that shows the world’s top 16 cities with the largest populations of centi-millionaires and billionaires are New York, San Francisco, Los Angeles, London, Beijing, Shanghai, Singapore, Hong Kong, Chicago, Paris, Tokyo, Geneva, Houston, Zurich, Mumbai and Dubai.
