Revenue up at JLL as signs of property sector recovery increase
PROPERTY consultancy Jones Lang LaSalle (JLL) has reported global full-year fee revenues of $4bn, up 12% over the year before.
The Chicago-headquartered firm, which has an operation in Birmingham, says its revenue growth was led by capital markets, hotels and property and facility.
It also says it has seen improved momentum in leasing.
Colin Dyer, president and chief executive officer of the firm, said: “Strong fourth-quarter revenue and profits capped a very successful 2013 for our firm.
“In 2014, we will continue to focus on serving our clients, improving margins, winning market share and investing in future profitable growth.”
JLL says its global results are reflected at the regional level.
Ian Cornock, lead director, Midlands region, said: “The Midlands region is extremely well placed going forward and reflects the global success of the company. We performed extremely well in a challenging market last year being involved in a number of the significant transactions in the city.
“Most notable deals were the acquisition of 134,000 sq ft at No5 Brindleyplace for Deutsche Bank and the investment acquisiton of the adjacent No1, plus the sale of 84 Colmore Row and Broad Street’s Quayside Tower.
“Our Industrial and logistics team were involved in excess of 50% of the big box market by floor area in the region and we continued to expand our teams and build our business to capitalise on a more bouyant market going forward.
“Valuation, property and asset management and planning all took on additional resources and most significantly we acquired a new real estate workout team – attracting two of Birmingham’s most well-known figures in this field, Alistair Wright and Simon Hunt from GVA.
“We have the building blocks in place and I certainly can’t think of a better time for the region in terms of investment, new infrastructure projects coming through and our reputation as a city on the national and international stage.”
