Strong performance at Savills

INTERNATIONAL real estate adviser, Savills, announced a strong performance across the group, which it says reflects improved transactional activity.

Savills, which has offices in Yorkshire, reported group revenue up 12%  to a record high of £904.8m and underlying profits up 28% in its full year results to the end of December 2013.

Jeremy Helsby, group chief executive, said: “I am delighted to report a strong set of results. These results demonstrate the strength of our position in the prime Residential and Commercial markets of the world’s key cities and the benefit of the investment that we have made across the business to expand our service lines.

“We have made a solid start to 2014 with performance in line with management expectations. In the UK, we expect continuing demand for London property and recovery in the regional markets, although availability of commercial stock, in particular, is increasingly a challenge.”

Paul Fairhurst, head of Savills Leeds, said: “Savills in Leeds has transacted some significant deals over the past 12 months including: the sale of a prime retail block at Davygate, York for clients La Salle Investment management for £20.6m; the sale of The Chocolate Works in York and the letting of Goodman’s Ellington offices totalling 82,000 ft sq at Leeds Valley Park, the largest letting in Leeds for some 10 years. We have some excellent clients both locally and nationally and we look forward to augmenting this success further in 2014.”

 

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