Estates Gazette Outstanding Contribution to Property Award
Mike Slade, chief executive, Helical Bar
They say that property is a people business and in the UK market, there are no bigger characters than Mike Slade.
Renowned for his outgoing and flamboyant personality, Slade has become something of an institution himself. Never afraid to call it how he sees it, he is rarely out of the limelight.
But what is perhaps easy to forget is just how successfully he has guided his company, Helical Bar, through numerous booms and busts over more than 30 years.
Having taken the helm in 1984, he has transformed the company from a specialist in steel reinforcement to one of the best-known property companies in the UK.
In an era when listed propcos are becoming ever more simplified income generators, Helical has gone against the trend and defiantly continued as a developer/trader. It is often said that Helical is a private company in a public company’s body and that has been driven by Slade’s entrepreneurial nature.
According to research by Numis, if you invested £1 in Helical when Slade took on the role of chief executive you would have seen a return of more than £1,000.
The company has been prolific throughout the UK regions in the office, retail and industrial sectors during Slade’s tenure, seeking out value and higher-yielding opportunities from which others may have shied away.
Since the latest downturn – which Slade describes as “quite easily the hardest” of his career – the company has realigned its portfolio and established itself as a force in London’s “outer villages”, closely tracking occupier trends and moving with the times. Following the company’s largest-ever deal on its own balance sheet in November – its £250m acquisition of The Bower in Old Street, EC1 – the company now has 60% of its assets in the capital.
As president of LandAid, the UK property industry’s foremost charity which has helped improve the lives of disadvantaged children and young people, Slade has had seemingly boundless energy in helping to raise funds.
Perhaps the most notable has been Slade’s ability not to take himself too seriously in aid of the cause. Whether donning the attire of Buzz Lightyear, Rocky or Superman, he has always been an admirable figurehead. His performance of Alice Cooper’s Poison at the 2011 fundraising do Party Near the Park will live long in the memory – for those who didn’t see it, look up the pictures.
Slade is of course not disappearing – he will become chairman in July when his deputy Gerald Kaye moves into the chief executive role.
Extrovert, philanthropist and entrepreneur, Mike Slade has undoubtedly made an outstanding contribution to the UK property industry.
Sponsored by Deloitte Real Estate
EG London Award
Battersea Power Station Development Company
There have been plenty of significant dates in the life of Battersea Power Station since it last supplied electricity in 1983. But few have been more positive than one that fell little more than a fortnight ago.
On 24 November work began on the excavation of 600,000 tonnes of earth for the Northern Line extension. It was the promise of the Tube extension that unlocked a deal that has saved one of the UK’s architectural icons, triggered the transformation of a neglected stretch of the South Bank and promises to reshape the capital.
It was in the wake of the 2012 Olympics that chancellor George Osborne put in place financial guarantees to enable construction of the Tube extension, just months after a Malaysian consortium comprising Sime Darby Berhad, SP Setia Berhad and Employees Provident Fund acquired Battersea Power Station for £400m.
Three years on and development manager the Battersea Power Station Development Company is motoring. The 42-acre site is a hive of activity. By the time the £8bn development has been completed there will be 1.62m sq ft of offices, 150 shops and more than 40 restaurants. Hotels will include a 160-bedroom luxury art’otel due to open in 2019 in a building designed by Foster + Partners. Residents of the 4,000 new homes will include Sting and Bear Grylls.
With the replacement of the chimneys well under way, the photo shows how fast development has progressed – the first residents move in next year.
But this is about more than the rebirth of an icon, it’s about ensuring London remains the real estate capital of the world. And for that the Battersea Power Station Development Company richly deserves this year’s EG London Award.
Sponsored by BNP Paribas Real Estate
National Company of the Year
Berkeley Group
Berkeley Group’s performance this year was exceptional even by its own high standards. For its second award of the night it didn’t just have to see off its residential competitors, it had to stand out for our judges above all others.
Its key achievements in the awards year were many and varied. The launch of St William – a joint venture with National Grid – was a standout with a capacity to unlock 14,000 future homes. Already it has achieved planning consent for 839 new homes in Battersea, SW8.
Like all successful companies, Berkeley thrives on fresh input and bright ideas. It has set up an Innovation Fund (backed by £2m) to support R&D into new products and research designed to improve health and safety. Meanwhile, the group also launched its pioneering Berkeley Training Scheme, which will create 200 apprenticeships over the next five years.
This year, Berkeley also launched MyHomePlus, an interactive online system for customers to use throughout the purchasing process and beyond. Customers buying off-plan will be able to receive updates on build progress, make specification choices, as well as accessing documents and manuals relating to their new home.
Overall it was the exceptional financials that most impressed judges: pretax profit was up by 42% to £539.7m. “An incredibly impressive business,” they said. “It was head and shoulders above the rest.”
Winning tweet
Fantastic homes in amazing places. #BestofBritish #WorldClass @BerkeleyGroupUK
Shortlisted
• British Land • The Crown Estate • Derwent London • Kier Property • Land Securities • Wrenbridge
Sponsored by Savills
National Adviser of the Year
Malcolm Hollis
The winner of the National Adviser of the Year Award will surprise many, but to our judges it was an easy decision.
Malcolm Hollis may have been in growth mode for longer than many advisers, but this past year has been a defining one for the firm.
Success brings attention and despite an approach from, and discussions with, Capita, Malcolm Hollis decided to remain independent. It is a decision that appears to be paying off. The firm exceeded a turnover of £20m for the first time – a year-on-year growth of more than 40%. Profit was also up by 38% to almost £6m.
Staff numbers increased by 43% across 15 offices this year. A new office was opened in Cambridge and teams moved to larger offices in the City, Battersea, Glasgow and Dublin. The year also saw the launch of three new service lines.
The judges also liked its management style. Malcolm Hollis was listed in the Sunday Times Best Companies to Work For rankings, 27 graduates joined its APC graduate training programme and 48 staff were promoted, including three equity partners, three partners and four senior associates.
And the highest commendation? Well, new client contacts are obviously a great thing, but almost 90% of the instructions Malcolm Hollis receives are from clients with whom it works regularly.
“It is small but highly motivated,” said one judge. “Its passion for its business makes it a fierce contender in its field.”
Winning tweet
Fastest-growing, most fun building consultancy. Staunchly independent. Trusted by all top 20 institutional landlords. #PunchAboveOurWeight!
Shortlisted
• BNP Paribas Real Estate • Capita • CVS • JLL • Knight Frank • Savills
Sponsored by Sky | Communal TV
Deal of the Year – Business Impact
Exemplar
At 446,000 sq ft, the London Fruit & Wool Exchange, E1, is one of the capital’s largest projects under construction. During the awards year Exemplar completed preparations for development, pre-sold it to the Prudential, and secured the largest central London prelet of the year to law firm Ashurst.
It is all the more remarkable as the Fruit & Wool Exchange is the first project funded and worked on by Exemplar alone. The development has been a huge success, bringing more than 3,000 new jobs to Spitafields, and confirming Exemplar as a developer to watch. The judges described it as an incredible deal, with one saying: “This is a stand-out submission, and really shows what can be achieved in just 12 months.”
Exemplar secured a five-year option to purchase the long leasehold interest on the site from the City of London and then invested a further £4.5m to design a scheme and prepare it for development. This process took four years to complete – overcoming planning hurdles, agreements over 25 individual rights-of-light claims, and securing vacant possession of a building which previously had more than 60 tenants.
Ultimately, the letting to Ashurst was at a rent 45% higher than was originally considered at the outset of the project. It remains the highest achieved in the City of London during the awards year.
The criterion for winning this award was demonstrating “a deal that had a transformative impact on a business”. The London Fruit & Wool Exchange deal did just that for Exemplar.
Winning tweet
London F&W Exchange. Planning secured against all odds. Fully funded and let within 6 mths. Records broken throughout. A new London landmark.
Shortlisted
• Bilfinger GVA • Discovery Park for The Enterprise Zone • Patron Capital for Motor Fuel Group • Skanska Development for 66 and 72 Queen Square
Sponsored by Linklaters
Deal of the Year – Industry Impact
Essential Living – Royal Bank of Scotland/Homes and Communities Agency
In November 2014, Essential Living secured a landmark finance deal with RBS and the Homes and Communities Agency as a part of the government’s Build to Rent scheme.
This £51.6m funding deal marks the start of Essential Living’s plan for 5,000 new homes across the South East, which, said our judges, has the potential to be transformative for the company, the sector and for housing provision in an area where it is most needed.
The deal will help finance 300 new homes across schemes in Bethnal Green, E2; Archway, N19; and Maidenhead, in Berkshire. Construction started this year and completion is scheduled for 2016.
The deal comes only two years after Essential Living’s entry to the marketplace and marks the first drawdown of money from the second phase of the Build to Rent fund.
With such senior institutional backing, Essential Living’s vision for the future of the private rental sector continues to prove itself instrumental in this emerging market.
Winning tweet
£52m landmark government/institutional finance deal with developer Essential Living, set to overhaul reputation of the private rented sector
Shortlisted
• Argent Related for Argent Related • Goodman for Project Owl • Patron Capital for Invesco’s investment in Generator
Sponsored by Carter Jonas
Offices Company of the Year
British Land
“British Land has outperformed its rivals this year, its financial performance is mind blowing.” That was the verdict of our judges in this hard-fought category.
BL celebrated the completion of its bold 2010 development programme with a storming year in which it smashed City rental records, saw the valuation of its offices portfolio rise by almost 20% and welcomed a new range of occupiers to its estate.
Having committed to a series of major projects in the depths of the banking crisis, in 2014/15, completion of the developments generated more than £1bn in profit and an IRR of more than 30%.
Among the highlights were 5 Broadgate, EC2, Regents Place, NW1, and the Leadenhall Building, EC3, which is 90% let or under offer and where rents are now £90 per sq ft. Meanwhile, schemes in Victoria, Marble Arch and Portman Square are almost fully let.
In the past five years, BL has developed 3.2m sq ft of London offices at a cost of £1.1bn. It saw an 18.8% full-year valuation improvement in 2014/15 to £6.1bn, outperforming IPD capital returns by 440bps.
It is also changing its tenant mix, creating a new generation of developments appealing to tech companies, expanding in Paddington to capitalise on Crossrail and leading the way in community engagement.
Winning tweet
@britishlandplc development made £1.1bn profit, we smashed City records, innovated in tech and lifted communities #leadingfromthefront
Shortlisted
• Derwent London • Great Portland Estates • Land Securities • The Office Group • Workspace
Sponsored by Hatton Real Estate
Offices Adviser of the Year
CBRE
It was a stellar year for the UK’s biggest adviser.
With an enviable client list, CBRE’s office agency team reported growth across all regions. It advised on 8.5m sq ft of deals and revenue totalled £35.3m – an increase of 44% on 2013.
With a market share of 28%, the central London team also retained its number one position for office investment.
But it wasn’t just a London story. CBRE Manchester disposed of 644,298 sq ft of grade-A offices in the year to July – 25% of the regional lettings market. The Manchester office also accounted for more than 31% of overall space acquired.
Meanwhile, CBRE Birmingham has been involved in disposals/deals for more than 40% of all large schemes every year for the past 10 years and is currently instructed on all major schemes in the city.
CBRE was there on most of the big deals of the year: from Norges Bank Investment Management and the Crown Estate taking a 64% stake in the Pollen Estate to Legal & General Property’s purchase of the UK-wide Hyperion Portfolio for £566m – the highest-ever value for a mixed-asset portfolio.
Responding to China’s growing investment activity into the UK, the well-established Chinese desk grew by 50% in 2014, ensuring CBRE retained its position as the go-to adviser for Chinese clients.
The firm also strengthened its tenant representation team and launched a new property search website for UK offices.
“Impressive revenue and exceptional growth,” said our judges. “It is a goliath in this market.”
Winning tweet
Another record year for CBRE offices. Growth of teams + market leading contacts + insights = increase in revenue of 44% on 2013
Shortlisted
• Cushman & Wakefield • Hatton Real Estate • JLL • Knight Frank • Savills
Sponsored by B4
Retail & Leisure Company of the Year
The Crown Estate
Record returns, its portfolio value hitting an all-time high and another awards win for The Crown Estate.
The Crown Estate now manages more than 8m sq ft of retail and leisure interests in the West End, with a £1.5bn regional retail portfolio. But it was technological advances, innovation, and strategic asset and investment management that drove another year of phenomenal progress.
West End retail earned The Crown Estate £65m, with another £22.1m added across the UK. Retail and leisure parks generated £49.6m. West End voids remained at 0% and flagship lettings included iconic international brands Uno de 50, Hunter, Goat, Michael Kors, Bike Rooms, Arc’teryx, and La Martina.
But The Crown Estate has been active in the investment market too. It invested £506m in property, while realising £451m through disposals and other capital receipts. The highlight? With investment partners NBIM, it completed a £381m deal for the Pollen Estate, acquiring the Church Commissioners’ 64% holding. This was the largest West End deal since 2002.
It is not all about London either. With partners Gingko Tree, it completed the £345m purchase of Fosse Shopping Park in Leicester, the largest single asset acquisition in The Crown Estate’s history.
Winning tweet
From @RegentStreetW1 to @SilverlinkPark, no one offers customers more than @TheCrownEstate. Global brands, flagship schemes, record returns.
Shortlisted
• British Land • Capital & Regional • Whitbread
Sponsored by Hartnell Taylor Cook
Retail & Leisure Adviser of the Year
twentyretail
It was twentyretail’s focus on sustainability and investing time in staff and customers that impressed our judges.
Twentyretail advises occupiers, owners and developers on high street, factory outlet, shopping centre, restaurant and leisure property. The business has picked up a slew of new clients from Hawksmoor to Westminster city council. It secured new instructions to represent major property owners including London & Regional, British Land and Meyer Bergman. In short, it punches way above its weight.
Some 83% of the new business secured this year came from recommendations by clients. It opened a second office in Shoreditch to become the only specialist retail and leisure agent with both east and west offices.
The business is well known for investing in its staff and its CSR commitment also belies its size.
Twentyretail has also established relationships with brands outside the UK and advises operators from as far afield as Marrakech, Dubai, the US and Australia.
It was an impressive performance that enabled the firm to bag this award.
Winning tweet
Because we believe small can beat big. Insatiable hunger to be the best. Future thinking today
Shortlisted
• The Coffer Group • JLL • Nash Bond • Savills
Sponsored by Whitbread
Residential Company of the Year
Berkeley Group
Financially successful, well regarded by peers and rated highly by its customers, the Berkeley Group is one of property’s biggest success stories.
Evidence of that success shines through its numbers.
Berkeley is delivering 10% of all new homes in London, creating economic value of £1.4bn and sustaining some 12,000 jobs. It completed 3,355 homes in 2014/15 and achieved impressive financial results with pretax profits rising by 42% to £539.7m. And the company entered the FTSE 100 too.
And it is not just a high-end developer. Berkeley is also delivering 10% of the capital’s affordable homes across its 73 sites.
All sites with implementable planning consent are in production, with eight new sites started in the last year. Future delivery is secured with 28 new or improved planning consents including the key sites of West End Green, South Quay Plaza and White City.
Customers believe in the brand too. Berkeley now has a Net Promoter Score of 71.9, equivalent to First Direct, a market leader in excellent customer service.
“Berkeley,” said one judge, “wins this category by far.”
Winning tweet
Fantastic homes in amazing places. #BestofBritish #WorldClass @BerkeleyGroupUK
Shortlisted
• Alchemi Group • Countryside • Get Living London • Grainger • Linden Homes • Mount Anvil
Sponsored by CBRE Residential London
Residential Adviser of the Year
CBRE Residential
A relatively new kid on the block, CBRE Residential has emerged as a top-four player and continues to grow at pace.
It has built a new agency team on the long-established and highly successful teams across land, funding, investment, development consultancy, marketing, PRS, affordable, planning, building consultancy and valuation. Combined revenue across residential, including these teams, will be more than £40m for 2015, up from £9m in 2013.
The business has focused on building a pipeline of development consultancy and sales agency instructions, from virtually zero fees three years ago. It is currently live on more than 174 development projects, totalling 13,733 units.
A design-focused team has worked extensively in outer London and on the private rented sector, amassing a pipeline of £7.5bn of PRS work across the UK. And it has hired dedicated international sales desks, fluent in Russian, Cantonese and Mandarin.
But one deal stood out: the 78-acre development consultancy win at Earls
Court. An incredibly competitive pitch took CBRE Residential’s teamworking ethos and collaborative approach to the next level. More than 300 members of CBRE staff globally were involved to bring cross-border market insight and initiatives to client Capco.
The judges said the business stood out from the crowd. But it was the Earls Court deal that impressed most. One judge noted: “It is hungry to grow its business in this sector. It has come into a crowded market and disrupted it.” Another claimed: “I like its focus on design. We haven’t seen this elsewhere and it demonstrates real passion.”
Winning tweet
Fantastic homes in amazing places. #BestofBritish #WorldClass @BerkeleyGroupUK
Shortlisted
• JLL • Knight Frank • Savills
Sponsored by Regis Group
Industrial Company of the Year
SEGRO
The last year has seen the culmination of a bold three-year plan designed to reposition SEGRO as the ultimate modern industrial property company.
In the eyes of our judges, it is a transformation that has been undeniably successful.
SEGRO has sold £1.8bn of non-core assets and acquired £1.2bn of assets and development sites in prime locations since 2011. It has also capitalised on the internet revolution that is radically reshaping the industrial and distribution worlds.
The company has delivered a total return of 131% since the launch of the repositioning plan.
The result was a powerful stock market performance, with its share price rising by 22% in the awards year, outperforming the UK REIT sector (+19.2%) and the FTSE All Share (+2.6%) and competing strongly with REITs in more traditionally attractive sectors such as central London offices.
And the company does not just focus on numbers and performance. It has worked with the NHS to house a groundbreaking initiative to improve care on hospital wards, run its Slough Aspire programme to improve local training for young people and delivered more than 2,000 employment opportunities at its flagship Origin development in Brent.
SEGRO has broken away from its past and in the words of one judge: “SEGRO had a standout year for national performance.
“It is a brand leader in the field.”
Winning tweet
@segroplc re-positioned with high-value portfolio and digital growth; shares, NAV, profits soared; we ‘Aspired’ for Slough #shedsrevolution
Shortlisted
• Goodman • Logicor • Prologis UK • Verdion • Wrenbridge
Sponsored by Wragge Lawrence Graham & Co
Industrial Adviser of the Year
Savills
Savills National Industrial and Logistics Agency team enjoyed a record year.
A stable team – with 100% staff retention last year – transacted around 18m sq ft, up 61% on the previous year, by focusing on the major players in the market in terms of developers and investors.
The stand-out deal for our judges was the off-market purchase of the Nestlé site in Hayes on behalf of SEGRO. Key to securing the 30-acre site was the agency team’s tenacity in persuading SEGRO that the site could be acquired off-market, and introducing Savills’ residential development team early on to help underpin the future value based on a mixed-use scheme. Savills has been retained on the onward residential sale and appointed agent on the commercial (warehouse and industrial) element comprising circa 250,000 sq ft.
This year’s client success drove a turnover of £5.2m, representing an 83% increase on the previous year.
“Savills has shown some pretty big figures,” said one judge. “Its stats are impressive and it has lots of interesting deals in the market.”
Winning tweet
Savills Industrial Agency team has had a record year transacting 18m sq ft, up 61% on the previous year
Shortlisted
• Bilfinger GVA • Burbage Realty • Colliers International • JLL • Lambert Smith Hampton
Sponsored by Kier
Specialist Company of the Year
Kexgill Group
Student accommodation may be flavour of the month. But Kexgill has been offering it for 36 years, putting the ‘student experience’ at the heart of its range of award-winning accommodation.
Established in 1978, Kexgill is a returning student provider and the only multi-location landlord offering both halls and houses in multiple occupation. The company owns 2,700 student beds and 430 multi-family apartments in Germany with a combined asset value exceeding £100m.
Some providers focus on gyms and free iPads but Kexgill takes pride in being a good landlord, looking after repairs, security and acting as a mediator when students fall out with their housemates. “We are their parents away from home,” says managing director Richard Stott.
In the awards year the company completed Kexgill House Middlesbrough serving Teesside University, and purchased Radio House in Stockton serving Durham University to develop into a small hall of residence. It wasted no time securing planning and delivering an additional 54 studios.
The judges were impressed that this activity enabled the company to secure the highest forward letting figures in the group’s 36-year history.
“It has a positive tried and tested reputation which it deserves,” said one judge.
Winning tweet
The ‘student experience’ is at the heart of Kexgill’s range of award-winning accommodation.
Shortlisted
• Blueprint • Endurance Land • Student Cribs
Sponsored by Capita
Specialist Adviser of the Year
The Coffer Group
Leisure is one of the hottest tickets in property right now and The Coffer Group excels at it, advising on the biggest and most high-profile deals.
Posting a 25% rise in turnover, the business capitalised on its relationships with some of the UK’s most prestigious landlords and developers, including The Crown Estate, British Land, Capco and Shaftesbury.
Last year it helped create two of the capital’s most exciting new dining destinations – Kingly Court, W1, for Shaftesbury and Broadgate Circle for British Land and GIC.
And the accolades kept coming. For the fourth consecutive year Davis Coffer Lyons retained its EGi Deals Completion title as the leisure and hotel sector’s most active agent in London for 2014.
From helping to deliver new concepts from the team behind Bocca di Lupo to being appointed by The Savoy Hotel, WC2, to find a new tenant for Simpson’s-in-the-Strand, WC2, the group was at the heart of the burgeoning leisure scene throughout the year.
Meanwhile, Coffer Corporate Leisure – the only dedicated property investment and mergers and acquisitions adviser to the leisure industry – advised on almost all the sector’s biggest transactions, including the sale of the Stonegate Pub investment portfolio totalling more than 100 sites for more than £100m.
Our judges liked The Coffer Group’s ability to help clients deliver radical change and repositioning, often through securing an unexpected tenant mix. One judge said: “I like the fact they assist in making smaller, niche traders accessible to larger real estate sites. ”
Winning tweet
We’ve had unrivalled influence on the transformation of the leisure sector: we create destinations, find new concepts, set best practice and advise the biggest deals
Shortlisted
• Acuitus • Burbage Realty • Green Kinnear Real Estate • Hatton Real Estate • Lee Baron
Sponsored by CRS
Young Professional of the Year
Candice Matthews
Candice Matthews joined DTZ as a graduate in 2006, making an immediate mark through her disposal of central London development sites for TfL, Royal Mail and the HCA. Throughout her career at DTZ, in which she has worked across nine global offices, she has shone.
However, it is the vision and leadership Matthews has shown in transforming DTZ’s residential service that persuaded our judges to give her the award ahead of a strong shortlist.
As the youngest director at DTZ, she has spearheaded a doubling in scale of the firm’s residential operation, established its international project marketing and residential research functions and manages teams across London, Hong Kong and Shanghai.
Matthews is responsible for projects for FTSE developers including Taylor Wimpey, Redrow London, Telford Homes and the Berkeley Group and is involved in innovation initiatives, developing future talent, charity events and CPD. She is also the driving force and lead EMEA presenter of DTZ TV. She has interviewed DTZ’s global leadership, most recently executive chairman Brett White and Cushman & Wakefield International chief executive Carlo Barel di Sant’Albano on the company merger.
The residential team has become one of the firm’s fastest-growing divisions under her leadership, growing in scale from seven to 19. She has made recommendations to UK ExCo on how best to fast-track expansion, within DTZ’s UK network, and beyond.
The judges were blown away, saying: “To be head of resi, news boss and part of the innovation and streetwise deserves acknowledgement.”
Winning tweet
@CandiceMatthews = Youngest Director @DTZ, doubled size of #resi biz, manages teams globally, 15,000 instructions, raised 25k for #charity
Shortlisted
• Michael Davis, JLL • Jonathan Manns, Colliers International • Reza Merchant, The Collective • Steven Skinner, BNP Paribas Real Estate
• Christopher Strong, Bilfinger GVA • Lottie Tollman, Cushman & Wakefield
Sponsored by Eddisons
EG Front Cover Award
Altus Group
The Estates Gazette Front Cover of the Year Award remains one of the highest-profile marketing opportunities in commercial property. The best front covers give the reader something to remember and an image that stands out.
Once again it was a varied shortlist voted for by readers. Yet one cover stood out.
Altus Group’s diver represents a property owner, committed to a course of action, faced with an unanticipated outcome such as the legislation of empty rates, prompting the reminder that specialist advice can help to remove an empty rates headache.
Shortlisted
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| Dragonfly | Gerald Eve | Helix Property Advisors |
Malcolm Hollis | Wrenbridge |
Sponsored by Pipers
Global Real Estate Company of the Year
LaSalle Investment Management
There is no higher praise than the comments one judge reserved for LaSalle Investment Management: “It is the business that other businesses aspire to be.”
One of the world’s leading real estate investment managers, LaSalle has £37.8bn ($56bn) of real estate, direct and indirect, equity and debt, private and public assets under management worldwide.
And 2014/15 was an outstanding year for the business. Global headcount grew to 682 employees and it raised $10.9bn in equity across its private equity and listed real estate securities business.
UK core house performance outperformed the IPD Pension Funds benchmark over one, three, five, 10 and 20-year periods to December 2014. Its Asian Opportunity Fund series demonstrated superior returns, with LaSalle Asia Opportunity Fund IV delivering a one-year total return of 43.5% to March 2015. The global securities business was also a success in Asia with the co-managed Nikko LaSalle GRES Fund growing to $10bn to become the second largest GRES fund in Japan.
It was also able to demonstrate innovation across the business. LaSalle’s research team developed a proprietary tool in the US to rank the relative attractiveness of grocery-anchored shopping centres from an investment perspective.
Winning tweet
Client trust, global reach & outstanding performance, together with robust research & an exceptional team – that’s LaSalle’s winning formula
Shortlisted
• AXA Investment Managers – Real Assets • CBRE Global Investors • TH Real Estate • UBS Global Asset Management, Global Real Estate
Sponsored by Knight Frank
Global Real Estate Adviser of the Year
CBRE
By reputation, by submission and by size, CBRE was a clear winner in this category.
“The messages of innovation and investment in its people are reflected in their work – it is backed up by reality, not just theory,” said the judges. “It is a hands-down winner.”
CBRE enjoyed a dominant year. It was the top-ranked firm for commercial real estate sales globally during 2014. The company’s financial performance over the year impressed too: turnover was up 26% to $9bn (£6bn), with much of that falling to the bottom line. EBITDA rose 14% to $1.2bn.
For a company with 52,000 employees globally, the focus on detail also helped win over our judges. They were impressed by the Workspace 360 initiative being put into practice in offices around the world and by its Tokyo headquarters being one of the city’s few LEED Gold buildings.
CBRE’s entry was able to point to successes in Dallas (where it has built a network of four offices with 2,150 professionals), India (where it grew project management mandates by 106%) and Brazil (where its fast-growing team conducted Brazil’s largest office sale: a portfolio of Rio-based assets for c.$220m through a global roadshow).
Meanwhile it has made transformational acquisitions, not least of Norland Managed Services, a leading provider of commercial building technical engineering services, and of Johnson Controls’ Global Workplace Solutions service line.
CBRE’s stated ambition is to be the pre-eminent global CRE adviser by creating distinct advantages for clients, employees and shareholders through innovative real estate solutions that drive value and growth. On the basis of the year it has had, it is a long way down the road to getting there.
Winning tweet
Innovating, Engaging, Collaborating, Connecting, Delivering. Proud to be @CBRE
Shortlisted
• Cushman & Wakefield • JLL • Knight Frank
Sponsored by Verdion
Fund Manager of the Year
Legal & General Investment Management
Concluding £4.1bn of transactions in 2014, L&G continues to be one of the most active UK property investors, surpassing its own strong track record of deal flow year-on-year. It has not rested on its laurels since, undertaking significant structural change too.
In January, LGIM’s direct investment capabilities in property and infrastructure were brought together as a single business.
Our judges were particularly impressed by L&G’s focus on the housing supply crisis. L&G has committed to investing in housing – from urban regeneration to build to rent and working with local authorities. “It is fantastic to see the housing supply crisis actively targeted as an area for innovation,” said one judge. “LGIM Real Assets should be commended for using its funds and resources to be part of solutions for wider societal benefit.”
Also in January, L&G announced it was working with the government’s Regeneration Investment Organisation, allocating up to £1.5bn to invest in urban infrastructure projects alongside capital from international investment partners.
Through the English Cities Fund, the business continued to make strong progress in delivering more than 5.4m sq ft of mixed-use space.
And if it is deals you are after, in March L&G purchased a 50% interest in MediaCityUK, Salford, alongside the Peel Group.
A stellar year, where real assets had real impact.
Winning tweet
L&G Real Assets created: most active UK investor; outperformance; international investors; launching products; leading resi and urban regeneration investment.
Shortlisted
• CBRE Global Investors • Mayfair Capital Investment Management • Patron Capital • TH Real Estate
Sponsored by Malcolm Hollis
Judges
| Sebastian Abigail Co-founder, Sociable Surveyors |
Manish Chande Senior partner, Clearbell Capital |
Tony Horrell Chief executive – UK & Ireland, Colliers International |
Will Mooney Partner, commercial, Carter Jonas |
Elliott Sparsis Portfolio manager, Blackstone |
| Rosamund Allen Senior surveyor, Soho House |
Roger Clarke Managing director, Stifel |
Charlie Howard Managing director, UK, Logicor |
Ezra Nahome Chief executive, Lambert Smith Hampton |
John Strachan Partner – global head of retail, Cushman & Wakefield |
| Rob Amey Retail partner, Hartnell Taylor Cook |
David Coffer Chairman, The Coffer Group |
Dominik Jackson Founding partner, Jackson & Jackson Developments |
Richard Owen Managing director, Deloitte Real Estate |
Dan Van Gelder Founding director, Exemplar |
| Ross Bailey Chief executive & founder, Appear Here |
Clem Constantine Global real estate leader, Clems Consulting |
Alex Jeffrey Chief executive, M&G Real Estate |
Roy Partington Underwriting director, Vonveyancing Risk Solutions |
Jean-Marc Vandevivere Head of residential, British Land |
| Ciaran Bird UK managing director, CBRE |
Matt Crompton Joint managing director, Muse Developments |
Anne Kavanagh Global head of asset management and transactions, AXA Real Estate |
David Partridge Managing partner, Argent |
Colin Wilson Head of UK & Ireland, Cushman & Wakefield |
| Tom Bloxham Chairman & co-founder, Urban Splash |
Alan Dornford Managing director – real estate, Capita |
Eric Kuhne Founder, CivicArts |
Alex Price Chief executive, Palmer Capital |
John Woodman Senior partner, Malcolm Hollis |
| Joe Borrett Head of real estate & construction (EMEA) Google |
Alistair Elliott Senior partner & group chairman, Knight Frank |
Melanie Leech Chief executive, British Property Federation |
Mark Ridley Chief executive, Savills UK & Europe |
|
| Rob Bould Chief executive, Bilfinger GVA |
Robert Fowlds Head of UK real estate corporate finance, JP Morgan Cazenove |
Victoria Lockhart Wellbeing & sustainability specialist, Arup Associates |
Mark Rigby Chief executive, CVS |
|
| Andy Bruce Partner, head of London real estate, Linklaters |
Guy Grainger Chief executive, UK, JLL |
Neil Mackilligan Senior partner, Allsop |
Jonathan Rose Managing director, William Pears Group |
|
| John Burbage Founder, Burbage Realty |
Gary Hersham Founding director, Beauchamp Estates |
David Mann Partner, Tuffin Ferraby Taylor |
John Slade Chief executive, BNP Paribas Real Estate |
