Buoyant logistics sector beefs up figures for commercial property consultancy
Commercial building, project and sustainability consultancy Jones Hargreaves has reported a 73% revenue increase in quarter one compared to the same period last year.
The consultancy firm, which has offices in Leeds, Manchester, Cardiff, Bristol and London, has also seen a 60% uplift in client instructions across its regions between January-March 2023 when compared to quarter one 2022.
It says logistics project work has had a particularly buoyant start to the year, with investors re-prioritising assets.
Jones Hargreaves was established in 2009 by Matthew Jones and Peter Hargreaves. They have since been joined by partners Matt Williams and Nick Twigg. The firm’s services include building consultancy, sustainability consultancy, MEP and project management.
Earlier this year Jones Hargreaves opened offices in Manchester and Bristol and made a raft of senior hires to meet demand.
This followed on from the expansion of its dedicated sustainability team during 2022; with Huw Davies appointed as head of ESG.
In Leeds, the team have led refurbishments at Park Row House, Victoria Wharf and are working on 3 Embankment for retained client, Adapt Real Estate.
The company’s long-term Ironworks project for PfP Igloo is due to achieve practical completion during quarter two. Last year also saw completion of a new headquarters for XR Games at Roundhouse Business Park.
Matthew Jones, partner at Jones Hargreaves in Leeds, said: “There’s tenant demand for both logistics and office space, but until recently there has been a shortage of assets.
“The start of 2023 has seen a resurgence in activity as prices started to flatten and confidence began to recover; prompting a year-on-year uplift in demand for our services.
“We continue to see the commercial property market proving resilient in the face of economic headwinds with a notable uptick in industrial and logistics transactions where market sentiment appears to have solidified following a turbulent period.
“It has been a strong and busy start to 2023 for us as we bolster our teams and regions to deliver high quality work. Logistics has performed well and so have sustainability projects across our client portfolios.”
