Bob Carlton-Porter, chairman of Rok, said: “The group is now well positioned to deliver in our three core businesses of development, building and FM.”
Rok’s share price rose 87% last year as the City responded positively to the changes, with a number of institutional investors taking stakes. This week, the share price was 161p compared with 80p a year ago.
Rok also announced on Monday that it had bought Southampton-based commercial property developer City Estates for £785,000. The business will be integrated into Rokeagle, Rok’s south-west England development division.
The group is now well positioned to deliver in development, building and FM
Bob Carlton-Porter, chairman of Rok
Snook said: “The addition of City Estates will strengthen Rok’s commercial property development team and marks the expansion of our development activities into other regions of the UK.”
The acquisition is the latest in a series of deals that have increased Rok’s development and FM divisions. Last year, Rok bought developer Rockeagle Land and maintenance firm Retail Maintenance Services.