Savills beefs up rural presence with Smiths Gore acquisition April 21, 2015 Property company Savills yesterday announced a deal to buy Smiths Gore – a rural property specialist. Smiths Gore has operated as a partnership with 532 staff, across 31 UK offices and 14 estate offices, all of whom will transfer into Savills Rural Energy and Projects (REP) division or its Country Residential Agency business. The takeover [...]
Tesco begins land sell-off in cost-cutting drive March 30, 2015 Tesco has hired property advisory firm Savills to sell six development sites as part of plans announced earlier this year to cut costs. Chief executive Dave Lewis said in January that he would halve capital spending and save £250m a year by axing 43 stores, shelving 49 projects and closing its Cheshunt head office. The [...]
Record results for Savills as market conditions improve across Europe and the US March 19, 2015 Savills has reported “record results” for 2014, with better market conditions aiding a return to profitability. The figures International expansion helped drive Savills' pre-tax profit up by 34 per cent to £104.3m in 2014, compared with £75.2m the year before. During the 12 months to 31 December, revenue for the London-listed property firm revenue [...]
Savills share price surges on profit outlook upgrade thanks to Stamp Duty changes January 15, 2015 Estate agent Savills has upgraded its profit outlook for 2014 after changes to stamp duty came into effect at the end of last year, sending shares surging almost nine per cent in early trading. Revenue and profit exceeded forecasts in December after a sales boost from the rise in Stamp Duty for properties priced over [...]
Mansion tax talk and cooling London house prices fail to dent Savills expectations November 18, 2014 Upmarket estate agent Savills is weathering the moderation of the London property market and the fall in commercial trading volumes in Hong Kong, as other global hotspots continue to perform. In an interim statement published today, the group said it has been affected by the threat of a mansion tax, which could be implemented after [...]
Londoners selling up for new life in the country boosts Savills August 8, 2014 Londoners swapping life in the capital for a new home in the countryside helped boost sales volumes in the regions and lift profits at property group Savills. The company said a recovery in the markets outside of London helped lift sales volumes by 20 per cent in the first half of the year compared to [...]
Savills move for Hewitt ends male monopoly June 24, 2014 Savills, one of the world’s largest real estate companies, yesterday appointed Liz Hewitt as an independent non-executive director. In doing so, Savills brought an end to the male monopoly in its boardroom. Hewitt is non-executive director of Melrose Industries, Novo Nordisk A/S and Synergy Health and has experience at two FTSE 100 companies.
High demand for London homes helps drive record sales at Savills March 20, 2014 PROPERTY agent Savills yesterday said strong demand for London properties had helped drive full year revenues to a record high. The firm, which specialises in property development, planning and valuation, said revenue grew 12 per cent to £904.8m last year, with pre-tax profit up 35 per cent to £70.1m. Its UK estate agent business, which [...]