Expansion on the cards as Vail Williams builds on Oxford growth
It has been a year since commercial and residential property consultancy Vail Williams formally entered the Oxford market, but how has the firm got on since its decision to open a base there?
March 17, 2025
It has been a year since commercial and residential property consultancy Vail Williams formally entered the Oxford market, but how has the firm got on since its decision to open a base there?
We spoke to partners Richard Dawtrey and Mike Watson, who cast their minds back over some of the key achievements of the last year, as well as exploring what lies ahead.
Vail Williams’ entry into the Oxford market saw the firm, which now has twelve offices across the UK, bridge the gap between its London, Reading and Birmingham offices, opening premises at New Barclay House in the city.
In truth, Vail Williams had already been active in Oxfordshire for many years, advising landlords, investors and occupiers from its strong holds in the Thames Valley, London and Midlands.
So, with an already established client base in the region, why open an office there? Particularly at a time when other national property firms were consolidating.
Partner Richard Dawtrey, head of the Oxford office and Head of Investment at Vail Williams, explains.
“The opportunity that Oxford represented has been alive to us for many years. It was a strategic decision at a time which felt right – and with hindsight, justifiably so.
“Having spent several years operating in the Oxford market myself prior to joining Vail Williams, I understood its potential as a beacon of growth, particularly in the education and life sciences sectors.”
Richard Dawtrey, Partner and Oxford office lead, Vail Williams.
Oxford is a global scientific powerhouse, home to world-leading research and industry expertise contributing around £2.5 billion to the UK economy. It is just one of four cities in the UK which are a net contributor to the economy.
Indeed, the city has been identified by Government as a growth engine within the recently reinvigorated Oxford-Cambridge growth corridor – one of the most important areas for catalysing national productivity and easing the nation’s housing crisis.
With the potential to deliver 4,500 new homes, community spaces, education and leisure facilities, and the further development office and laboratory space in the growth corridor, the opportunity that Oxford represented was not lost on Vail Williams.
Richard continued: “As the absolute epicentre of learning and healthcare innovation, and with such a strong and independent retail sector, Oxford was an incredibly exciting proposition for us.”
And so it was, that in February 2024, the firm opened its doors in the city, bringing experienced partner Mike Watson and surveyor Clark Tersol into its ranks.
The appointment of Mike Watson was a crucial ingredient, as Richard explains: “Mike has worked in Oxford for 26 years and has reputation that is second-to-none here. He knows the city’s property market inside out, is an expert on the city centre and has significant experience acting for a number of the Oxford colleges – a combination which galvanised our decision.”
Speaking about what attracted him to Vail Williams, Mike added: “I knew, from their focus on client care and relationships, that this would enable me to service clients at a standard that was befitting, but it also aligned well with my own work ethic. This cultural synergy has, I think, been core to our success in growing our Oxford practice over the last twelve months.”
And what a 12 months it has been. With boots on the ground in Oxford, Vail Williams has added to both its team and client base, which has seen it deliver a staggering 163% increase in Oxford-specific turnover.
Key appointments have included a general advisory appointment to the University of Oxford’s property panel, and acting for several university colleges as a retained commercial adviser including Lincoln College, St. Edmund Hall, University College, Oriel College, Pembroke College, Harris Manchester College and St. Peter’s College.
The firm has also continued to expand its presence in the Oxford retail market, acting on a significant number of College-owned retail mandates in the market this year, as well as taking an advisory role with Oxford City Council making it, arguably, the market leading retail property adviser in the city.
Vail Williams also completed a multi-million pound residential disposal here and is growing its market share of transactions in the life sciences sector, acting on the largest deal by square foot in the sector in 2024, leasing 23,000 sq ft of lab space to Agratas at Milton Park.
But what of the future?
“Now that we have settled into the market, we are looking to strengthen our position here. We aim to continue to increase our market share through development of more property asset management mandates, as well as growing our building surveying, lease advisory and valuation teams to meet demand in this market,” said Richard.
Vail Williams’ Oxford Team with Richard Dawtrey and Mike Watson.
The property firm is already recruiting for a lease advisory surveyor, meanwhile planning and business rates also represent immediate growth potential. But it’s not just about growth for growth’s sake, as Richard is at pains to explain:
“Opening an office here was a strategic decision for the business and, yes, we want to become the premier commercial property consultancy in Oxford. But that growth is underpinned by our values and these values will be core to our vision as we grow.”
This is a sentiment which is echoed by Mike, who adds:
Richard concludes: “That cultural alignment has been hugely important – not just for our clients, but for the young surveyors like Clark Tersol and Naomi Ray who are rising up through the ranks with us in Oxford.”
“It is beholden on us to make sure that they are progressing too, and the calibre of our client roster here, together with our collegiate approach, will certainly support them in that as we look ahead to another exciting year.”
