The Directors of MSMR Architects are pleased to announce the company has become wholly owned by an Employee Ownership Trust (EOT) from Monday 1st October. The practice will now be held in trust on behalf of all employees of the business.
Formed in 2000 the four directors - who will all continue to serve as directors - have grown the business to over 40 architects, designers and support staff. October 2018 is also a special month as we celebrate 18 years in business. Both events come at a busy time for our practice with several major projects on site across London in Battersea, Bishopsgate, Knightsbridge and Regent Street.
Law firm Fieldfisher advised us on the change. Graeme Nuttall, partner at Fieldfisher and author of the Nuttall Review of Employee Ownership says,
“100% ownership by an Employee Ownership Trust was the obvious way to ensure the continued success and growth of MSMR Architects. It is a perfect fit for the existing open and democratic culture of this specialist residential practice. Moving to employee ownership is a great way to celebrate the 18th birthday of MSMR Architects.”
The process of transferring ownership has taken us roughly nine months from start to finish. We’re ahead of the crowd in many respects and as nobody is leaving MSMR any time soon it’s largely business as usual. On the other hand, setting up the EOT is a very significant step. It feels a like new beginning.
As for our 18th Anniversary, we'll be celebrating with dinner and drinks overlooking London's ever changing cityscape, including several of our own schemes.