AGENCIES UK Total Turnover: £4.28Bn Percentage Change: 16.2% Number of Top 40 UK Firms That Saw Revenues Decrease: 15 Top 10 Global Turnover: £20.33Bn
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Source: Property Week {Main} Edition: Country: UK Date: Friday 30, June 2017 Page: 33,34,35,3 Area: 3760 sq. cm Circulation: ABC 12704 Weekly Ad data: page rate £2,185.00, scc rate £48.00 Phone: 020 7921 5000 Keyword: Beauchamp Estates INSIGHT r A 1 L 1 ft AGENCIES UK total turnover: £4.28bn Percentage change: 16.2% Number of top 40 UK firms that saw revenues decrease: 15 Top 10 global turnover: £20.33bn 1 propertyweek.com Reproduced by Gorkana under licence from the NLA (newspapers), CLA (magazines), FT (Financial Times/ft.com) or other copyright owner. No further copying (including printing of digital cuttings), digital reproduction/forwarding of the cutting is permitted except under licence from the copyright owner. All FT content is copyright The Financial Times Ltd. Article Page 1 of 7 394720470 - TWAMAY - B16619-1 Source: Property Week {Main} Edition: Country: UK Date: Friday 30, June 2017 Page: 33,34,35,3 Area: 3760 sq. cm Circulation: ABC 12704 Weekly Ad data: page rate £2,185.00, scc rate £48.00 Phone: 020 7921 5000 Keyword: Beauchamp Estates Stellar CBRE and JLL results distort 6 £4.3bn overall picture year on year The figures may paint a rosy Total revenue of picture, but 15 of the top 40 top 40 UK firms firms have recorded negative growth this year. Emanuela Barbiroglio Richard Hook Average revenue and Adam Branson report per fee-earner of top 40 On the face of it, the agency world has had another robust year. Total revenue among the UK firms 40 biggest agents has risen by 16.2% since 2016, from £3.68bn to £4.28bn, compared year on year with 13% between 2015 and 2016, according to Property Week!s Agency 2017 survey. By that measure it would appear the uncertainty created by the EU referendum last June had, if anything, a positive impact. However, while last year only three of the 40 agents recorded negative growth, this year 15 saw £20.3brf^W revenues fall - among them half the firms in the Total global revenue top 10. What's more, for many companies that have year seen revenues grow in the last year, that growth of top 10 firms on year has been pretty anaemic. The average percentage uplift across the top 40 was just 5.0% and yet the +21% sector as a whole recorded that seemingly very healthy 16%. So what's going on? The vast majority of the uptick in income is explained by quite staggering increases in the UK's - and the world's - two biggest real estate advisory £6.4bn businesses: CBRE and JLL, which saw revenue growth of 41.1% and 28.1% respectively. By comparison, Savills, which takes the bronze medal, +50% JU /U year on year saw growth of just 3.2%. Where Cushman & Wakefield would figure at Total European the top of the list is unknown - for the third time since the merger with DTZ the company declined revenue of to supply figures - but what is abundantly clear is that both CBRE, which has taken the top spot once top 10 firms again, and JLL have had stellar years in terms of revenue growth in their respective UK businesses. Proportion of firms European success that expect staff CBRE's growth of more than 41% saw its UK revenue increase from £992m to a whopping £1.4bn numbers to increase in a single year. But it wasn't just in the UK that the 29% in next 12 months business recorded impressive results. The figures for its Europe-wide operations are particularly Proportion of firms eye watering, with revenues up from £1.25bn open to M&A in to £2.89bn - a rise of 130%. Globally, revenues increased by 20%, from £8.55bn to £10.27bn. next 12 months "As these results show, over the past few years we have focused our efforts on truly understanding 63% our clients and their needs and have grown and » Reproduced by Gorkana under licence from the NLA (newspapers), CLA (magazines), FT (Financial Times/ft.com) or other copyright owner. No further copying (including printing of digital cuttings), digital reproduction/forwarding of the cutting is permitted except under licence from the copyright owner. All FT content is copyright The Financial Times Ltd. Article Page 2 of 7 394720470 - TWAMAY - B16619-1 Source: Property Week {Main} Edition: Country: UK Date: Friday 30, June 2017 Page: 33,34,35,3 Area: 3760 sq. cm Circulation: ABC 12704 Weekly Ad data: page rate £2,185.00, scc rate £48.00 Phone: 020 7921 5000 Keyword: Beauchamp Estates Top 40 firms ranked by UK revenue Ranking Ranking Company Latest annual UK revenue Previous year's UK Change (%) Year end 2017 2016 (total £m) revenue (£m) 1 1 CBRE 1,400.0 992.0 41.1% 31/12/2016 2 2 JLL 765.0 597.0 28.1% 31/12/2016 3 3 Savills 578.3 560.1 3.2% 31/12/2016 4 4 Knight Frank 299.8 303.6 -1.3% 31/03/2017 5 6 CVA 186.0 190.0 -2.1% 31/12/2016 6 5 Capita Property and Infrastructure 163.4 176.0 -7.2% 31/12/2016 7 7 Deloitte Real Estate 145.9 144.0 1.3% 31/05/2016 8 8 Colliers International 108.0 110.0 -1.8% 31/12/2016 9 9 Strutt & Parker 105.7 107.7 -1.9% 30/04/2017 10 10 Lambert Smith Hampton 99.4 99.2 0.2% 31/12/2016 11 12 Gerald Eve 61.9 54.3 14.0% 05/04/2017 12 13 Carter Jonas 55.2 51.6 7.0% 30/04/2017 13 14 Allsop 46.0 49.0 -6.1% 31/03/2017 14 15 Bidwells 43.8 41.6 5.2% 31/12/2016 15 17 CVS (Commercial Valuers & Surveyors) 30.0 33.4 -10.0% 31/12/2016 16 19 Malcolm Hollis 29.1 25.0 16.6% 30/04/2017 17 23 MJ Mapp 16.1 13.1 22.9% 30/04/2017 18 20 Sanderson Weatherall 14.5 15.6 -7.1% 31/03/2017 19 22 Alder King 13.8 13.1 5.2% 31/08/2016 20 25 Goadsby Group 12.9 12.7 1.6% 30/06/2016 21 26 Rapleys 11.9 12.3 -2.9% 30/04/2017 22 27 Ryden 11.6 12.0 -3.3% 30/04/2017 23 30 Matthews Si Goodman 9.8 7.6 29.5% 31/03/2017 24 29 Strettons 9.0 8.8 2.4% 05/01/2017 25 31 Dacre Son & Hartley 6.9 6.8 1.5% 31/10/2016 £6 - Davis Coffer Lyons 6.6 - - 31/03/2017 zb 34 Hartnell Taylor Cook 6.3 6.3 -0.3% 30/04/2016 2)8 32 Mason Owen 6.0 6.0 -0.4% 30/04/2017 29 35 Fleurets 5.1 5.4 -5.3% 30/09/2016 30 36 Mason Partners 4.9 4.6 6.2% 30/06/2016 31 37 Caxtons 4.6 4.5 2.1% 30/06/2016 32 38 Barker Storey Matthews 3.2 3.1 4.9% 31/03/2017 33 40 Roger Hannah & Co 3.1 2.4 30.9% 31/03/2017 34 39 Lamberts Chartered Surveyors 3.0 3.1 -2.7% 29/02/2016 35 - Legat Owen 3.0 3.0 0.0% 05/01/2017 36 - Johnson Fellows 2.5 2.2 13.6% 30/04/2017 37 - Brown Sj Lee Chartered Surveyors 2.1 - - 31/03/2017 38 - The Lorenz Consultancy 1.7 2.0 -15.9% 31/07/2016 39 - Graves Son Sj Pilcher 1.7 1.6 3.1% 31/03/2017 40 - Robert PlnkusSiCo 1.7 1.4 17.9% 30/04/2017 TOTAL £4,279m £3,682m 16.2% Reproduced by Gorkana under licence from the NLA (newspapers), CLA (magazines), FT (Financial Times/ft.com) or other copyright owner. No further copying (including printing of digital cuttings), digital reproduction/forwarding of the cutting is permitted except under licence from the copyright owner. All FT content is copyright The Financial Times Ltd. Article Page 3 of 7 394720470 - TWAMAY - B16619-1 Source: Property Week {Main} Edition: Country: UK Date: Friday 30, June 2017 Page: 33,34,35,3 Area: 3760 sq. cm Circulation: ABC 12704 Weekly Ad data: page rate £2,185.00, scc rate £48.00 Phone: 020 7921 5000 Keyword: Beauchamp Estates « diversified our business accordingly," says Ciaran Is it likely your firm will seek to Bird, UK managing director at CBRE. Hk til ti1 Brexit "Last year saw the successful integration of JCI's merge with or acquire another Global Workplace Solutions acquisition - a critical firm in the next 12 months? uncertainty piece of our end-to-end occupier services offer, has not had which, under the stewardship of Ian Entwisle, has in no small part contributed to the significant ^ a long-term growth of our business as a whole." Bird acknowledges that the growth is surprising jifl impact on the given the strong headwinds caused by the Brexit EH UK economy vote, but insists that the growth was spread across the business. turnover in Q1 this year and this momentum has "Despite the challenges of the EU referendum been sustained in Q2," he says. "Cross-border Don't know last year, we delivered market share gains and investors are clearly still attracted to the higher revenue growth across virtually all service lines and yields on offer in London compared to many other regional offices," he says.