Jones Lang LaSalle Incorporated (NYSE: JLL) today reported adjusted earnings per share (“EPS”) of $6.32 for 2013, up from $5.48 in the prior year. Full-year fee revenue of $4.0 billion was up 12 percent. All percentage variances are calculated on a local currency basis.
Matthew Smith, lead director from the Nottingham offices of Jones Lang LaSalle said:
“Nottingham’s performance reflects the upturn seen globally by the company. We saw improved activity across all of our teams with a fantastic portfolio of office, industrial and investment deals delivered across an expanding market area. We have worked hard to capture opportunities within new sectors, with Jones Lang LaSalle leading 300,000 sq ft of transactions in office conversions into student accommodation, also delivering offices in to innovative education facilities and targeting the opportunities due to increased development activity, such as project management, residential valuation and consultancy services.
“The volume housebuilders also returned with avengence and we saw an uptake in residential land sales with negotiations underway for several substantial land deals which could turn 2014 into a vintage year.
“Our continued investment in the region was clearly demonstrated by securing new statement offices in City Gate, providing more room for our planned growth.
“In 2014 we are expecting to see the Private Rented Sector (PRS) emerging as investors see potential in the city and whilst we don’t foresee any major office prelets this year, our research suggests that already circa 170,000 sq foot of office deals could happen early this year, in addition to the usual churn.
“We predict office take up could return to and even exceed the five year average, mainly from movement within the indigenous office market. The industrial market too, frustrated by a lack of good quality stock, will improve. There are good enquiries that are likely to translate into sizeable pre-lets as well as potential for a return of speculative development, as rents improve and stock declines.
“So the potential is there for 2014. It’s now just a case of rolling our sleeves up and getting the deals done.”
