Drivers Jonas hits record turnover in the North

COMMERCIAL property consultant Drivers Jonas has boosted its Northern region turnover to a record £13.2m – a near 12% increase despite the tough year suffered by the property sector.

Drivers Jonas North, which includes the company’s Manchester and Leeds offices, has been credited with helping the wider business hit a record £95.7m UK turnover.

The Manchester office is the larger of the two northern offices, employing more than 80 staff, compared to Leeds’ 20 staff.

The Manchester office saw its turnover rise following its appointment on major schemes such as the new Chetham’s School of Music buildings and the redevelopment of Old Trafford Cricket Ground. It said turnover for the region is now equal between the private and public sectors.

John Adams, partner and head of UK regions based in Manchester, said: “This has been a challenging year for the property industry and our agency as activity levels, market confidence and demand for services fell sharply.

“Intensifying competition for work has seen many advisers chasing down fee rates to unsustainable levels which has had a downward pressure on profits. Nevertheless, we have made real progress in strengthening our project management and building construction businesses and our regeneration and transaction services. 

“This year promises to be challenging but exciting. The public sector continues to be a major focus of all parts of the business and meanwhile a number of major privately funded developments we have been involved with are beginning to come forward once again.”

Drivers Jonas has six other offices across the country.

Nationally the firm, which is reporting its financial results as a limited liability partnership for the first time, recorded profits of £21m and holds £9m in cash reserves.

In continental Europe it has consolidated its cross border property and asset management business for funds based both in the UK and in Europe.