BH2

What BH2 does

BH2, legally Newmark BH2 LLP, is a boutique commercial real estate advisory firm specialising in Central London. Founded in 1994 and headquartered at Eldon House, 2-3 Eldon Street in the City of London, the firm was acquired by Newmark Group, Inc. (Nasdaq: NMRK) in April 2022 and now operates as part of Newmark's global commercial real estate platform while retaining its boutique advisory identity.

The firm provides five integrated service lines: Capital Markets (acquisitions, disposals, strategic investment advisory, joint venture formation), Leasing Advice (tenant representation, pre-letting, lease restructuring), Occupier Advice (property strategy alignment for corporate tenants), Development Consulting (site assembly, development agreements, large-scale project advisory), and Strategic Asset Management (ongoing investor portfolio management combining capital markets and leasing skills). BH2 serves institutional real estate investors and private equity real estate funds (including Blackstone, Brookfield, Mitsui Fudosan, abrdn, Nuveen, Tristan Capital, Landsec, Great Portland Estates, Canary Wharf Group) and corporate occupiers (Herbert Smith Freehills, Clyde & Co, Aon, Barings), with a disclosed track record of £24.8 billion in capital transactions across 214 deals since 2010, of which 39% exceeded £100 million.

BH2's business model is professional services fee-based, with advisory and transaction fees negotiated on a per-mandate basis typical of boutique real estate advisory firms serving institutional clients. The firm operates with a deliberately lean team of approximately 11 senior and mid-level professionals and pursues a relationship-driven, referral-based go-to-market approach. There is no proprietary technology platform; the firm's competitive differentiation rests on senior-led execution, long-standing client relationships (some spanning decades), and a stated commitment to confidentiality and conflict avoidance in handling complex, often off-market mandates.

Name

BH2

Legal name

Newmark BH2 LLP

Website

https://bh2.co.uk

Company type

Private

Founded year

1994

Operating status

Operating

Headcount range

1–10 employees

Short description

BH2 (now Newmark BH2 LLP) is a boutique London-based commercial real estate advisory firm serving institutional investors and corporate occupiers with capital markets, leasing, occupier, development consulting, and strategic asset management services across Central London.

Ownership category

akta.pro rank

Headquarters

HQ city

London

HQ country

United Kingdom

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales

Revenue model

1. Real Estate Advisory Services: BH2 generates revenue through professional services fees for capital markets transactions (acquisitions, disposals, joint ventures), leasing advisory mandates, occupier strategy consulting, development consulting, and strategic asset management mandates. Revenue is derived from advisory and transaction fees, likely on a success/fee or retainer basis typical of boutique real estate advisory firms.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

BH2 is a London-based commercial real estate advisory firm operating as Newmark BH2 LLP following its acquisition by Newmark Group, Inc. in April 2022. The firm provides advisory services across five core service lines: Capital Markets, Leasing Advice, Occupier Advice, Development Consulting, and Strategic Asset Management, serving clients in the United Kingdom commercial real estate market.

Product overview

BH2 is a London-based commercial real estate advisory firm operating as a single integrated service offering rather than a modular product platform. The firm provides five interconnected service lines: Capital Markets (transaction execution and strategic investment advisory), Leasing Advice (tenant representation and lease advisory), Occupier Advice (property strategy alignment), Development Consulting (project advisory from site assembly to completion), and Strategic Asset Management (ongoing investor portfolio management). These services are delivered by a unified team of real estate experts and are mutually reinforcing—capital markets expertise informs leasing strategy, development consulting enables pre-letting, and asset management combines multiple disciplines to maximize returns. The firm acts exclusively for sophisticated investors and occupiers, undertaking assignments with a selective, high-commitment approach.

Differentiator

Problem solved

Functional benefit

Products and services

• Capital Markets
• Leasing Advice
• Occupier Advice
• Development Consulting
• Strategic Asset Management

Quantifiable outcome

• £24.8 billion in capital transactions since 2010
• +4 more outcomes

Named customers14 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Eastdil Secured: Specialist CRE investment banking firm advising on the largest UK and European real estate capital markets transactions. Competes for the same mega-mandate (£100m+) institutional investor business that comprises 39% of BH2's transaction base.
• Montagu Evans: UK-focused commercial real estate advisory firm providing investment, development, and occupier services primarily in London. Closest boutique peer to BH2 in scale, London-centric positioning, and senior-led advisory model.
• Hanover Green: London-based boutique commercial real estate advisory firm focused on Central London investment and leasing mandates. Direct boutique competitor to BH2 for institutional investor and developer clients in the City and West End.
• Avison Young: Global CRE advisory firm with a London investment and capital markets practice focused on mid-to-large institutional transactions. Most directly comparable to BH2 in targeting the same institutional investor client base in Central London.

Broad incumbents

• CBRE: World's largest CRE services firm, dominant in London capital markets, investment sales, and occupier advisory. Competes for the largest institutional mandates and is a structural competitor for BH2's marquee-client relationships.
• Knight Frank: Global CRE advisory firm with deep London presence providing capital markets, leasing, valuation, and occupier services. Comparable in service breadth and Central London institutional client base, but operates as a large diversified incumbent rather than a boutique.
• JLL: Global CRE services firm with significant London capital markets, leasing, and occupier advisory capabilities. Competes for institutional investor and corporate occupier mandates across Central London.
• Cushman & Wakefield: Global CRE services firm with a substantial London capital markets and occupier advisory business. Competes for the same institutional investor and corporate occupier mandates as BH2, particularly on larger transactions.
• Savills: UK-headquartered global real estate services firm with strong Central London capital markets, leasing, and investment advisory practices. Competes directly with BH2 for institutional investor mandates and corporate occupier work in the City and West End.

Others

• Newmark (UK London Capital Markets team): Parent company Newmark Group operates its own London capital markets advisory team alongside BH2. Internally adjacent rather than externally competitive — relevant for understanding mandate allocation, conflict dynamics, and integration trajectory post-2022 acquisition.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bh2london

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about BH2