Savills (SVS) is operating in a sweet spot, as last year's record profits attest. And the real estate adviser's broad revenue stream, both geographically and from its wide range of services, suggests that the current trading momentum is set to continue.
Nowhere was this made clearer than in the commercial property sector. Strong overseas interest not only boosted volume in London, but also helped to prod UK investors into taking a closer look at regional markets, where yields remain that much more attractive, and transaction revenue in the UK jumped by 22 per cent to £73.4m. In London, Savills was involved in nearly a third of office transactions and over 40 per cent of all deals involving Middle Eastern or Asian investors. The strong performance is expected to continue, although chief executive Jeremy Helsby pointed out that the availability of regional commercial stock has become constrained by existing owners sitting tight, and also by a dearth of new development during the recession.