Savills

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Savills plc
Public
Traded as LSESVS
Industry Real Estate
Founded 1855; 162 years ago (1855)
Headquarters

33 Margaret Street,

London, W1G 0JD
Key people
Revenue £1,445.9 million (2016)[2]
£92.7 million (2016)[2]
£67.7 million (2016)[2]
Number of employees
30,000 (2017)[3]
Website www.savills.com

Savills plc is a global real estate services provider listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.

History

The business was established by Alfred Savill (1829 - 1905) in 1855 in London.[4] By the time of Alfred Savill's death in 1905 his sons Alfred, Edwin and Norman were established in partnership. In the 1920s the firm moved to Lincoln's Inn Fields. During the Second World War Norman Savill went to Wimborne in Dorset, taking vital records with him. The remaining partners stayed at Lincoln’s Inn Field. By the 1970s, the firm was re-branded as Savills. The firm was incorporated as a limited company in 1987 and was listed on the London Stock Exchange in 1988.[4]

In 1997 Savills merged with First Pacific Davies (Chinese: 第一太平戴維斯) in Asia.[5] In 1998 it bought majority stakes in the German, French and Spanish arms of Weatherall, Green & Smith.[4] In June 2015 it completed the acquisition of Smiths Gore, provider of rural and residential property services in the UK.[6] In June 2016, Savills plc announced its proprietary investment subsidiary, Grosvenor Hill Ventures, had acquired a minority stake in YOPA Property Ltd, a UK-based online hybrid estate agent.[7]

Savills announced in August 2016 that it had acquired GBR Phoenix Beard, a Midlands-based commercial property consultancy, strengthening its UK real estate services.[8] Expansion continued in July 2017, as Savills acquired Larry Smith Italia, a leading commercial management and leasing business in Italy, strengthening its position in Europe.[9]

Operations

The company provides consulting services and advice (such as valuation, building consultancy, project management, environmental consultancy, landlord and tenant, planning, strategic projects and research) in connection with commercial, residential and agricultural properties, property-related financial services and investment management, which includes investment management for institutional or professional investors. Savills operates from over 700 owned and associate offices, employing more than 30,000 people in over 60 countries throughout the Americas, Europe, Asia Pacific, Africa and the Middle East.[3]

Australia

Savills Australia was established in 1996. From 2016, senior management has been headed by Paul Craig, previously Managing Director in Western Australia and Head of Cross Border Investments. Craig replaced outgoing chief executive, Paul McLean, who stayed on as Queensland Managing Director.[10][11][12] In 2016 Australia rose to second place after Japan for cross border capital inflow in the Asia Pacific region, largely due to an increase in China's investment in Sydney's CBD, up 44 per cent from $4.5 billion the year before to $6.46 billion.[13] Across Australia Savills offers services in the office, industrial, retail, hotels and residential sectors. Savills Brisbane's commercial property division, led by Robert Dunne, combines office and industrial and parts of the other sectors, with significant sales in Brisbane's CBD. In May 2013 Dunne set the record for the highest price for a development site in Brisbane with the sale of the Supreme Court site at 300 George Street for $63M to the Taiwanese developer Shayher Group, to become a mixed-use precinct including a five-star hotel. Shayher Group was required to build a 65,000sqm residential, serviced apartment tower and a 45,000sqm commercial office tower.[14]

Indonesia

In May 2014, Savills announced it has established a presence in Jakarta, Indonesia, working in partnership with local experts, Property Connection Indonesia.[15] In 2015 Savills established an Office Services and Occupier Representation capability, expanding its Jakarta based business, when Leny Soedojo joined Savills Indonesia along with Rupert Provest from Savills Vietnam Head of Research Anton Sitorus from property consultancy JLL. Local Managing Director is Jeffrey Hong.[16]

United States

In June 2014, Savills announced it had acquired 100% of Studley, Inc. a leading US independent commercial real estate services firm specialising in tenant representation with twenty five offices across the United States. Within the US, the new business was branded as Savills Studley.[17] Studley was acquired in a $260 million deal including cash, Savills stock and promissory notes. Studley was founded in 1954 by Julien Studley, and in 2002 was bought by its 139 partners. The Savills deal brought more than 400 brokers and 175 support workers from Studley to the new firm.[18]

Malaysia

In February 2015, Savills announced it had acquired a substantial shareholding in a Malaysian real estate business, previously trading as CBRE in Malaysia. The business has close to 300 staff, and offices in Kuala Lumpur, Penang and Johor.[19] Savills Malaysia managing director is Allan Soo.[20]

See also

References

  1. ^ Board of Directors Savills
  2. ^ a b c "Preliminary Results 2016". Savills. Retrieved 22 March 2017. 
  3. ^ a b "Savills trusted advisors to real estate clients around the globe - Key Facts". savills.com. Retrieved 23 April 2017. 
  4. ^ a b c "Savills Germany - History". savills.de. Retrieved 3 April 2015. 
  5. ^ "First Pacific Davies forms alliance with top British property agent". South China Morning Post. 9 September 1997. Retrieved 3 April 2015. 
  6. ^ "Land agent Savills buys Smiths Gore for £40m". Farmers Weekly. 22 April 2015. Retrieved 15 April 2016. 
  7. ^ "Savills squares up to Purplebricks by backing estate agent rival Yopa". Telegragh.co.uk. Telegraph Media Group. Retrieved 3 June 2016. 
  8. ^ "GBR Phoenix Beard bought by global property agency". Birmingham Post. Retrieved 2016-08-12. 
  9. ^ "Savills acquires retail experts Larry Smith Italia". PropertyEU. Retrieved 2017-07-05. 
  10. ^ "Paul Craig Commences as CEO at Savills Australia & New Zealand". Public Now. Retrieved 23 April 2017. 
  11. ^ "Paul Craig to take over from Paul Mclean at Savills". Australian Financial Review. Retrieved 23 April 2017. 
  12. ^ "New chief Paul Craig takes reins as Savills finalises leadership transition". Commercial Real Estate. Retrieved 23 April 2017. 
  13. ^ "Australia sets standard for capital transactions". Property Council of Australia. Retrieved 23 April 2017. 
  14. ^ "Brisbane's Former Supreme And District Courts To Become Five-Star Hotel In $63 Million Deal". 21 May 2013. Retrieved 23 April 2017. 
  15. ^ "Savills opens new office in Indonesia". Property Wire. Retrieved 3 April 2015. 
  16. ^ "Savills strengthens its Indonesian business Muneerah". Property Guru. 6 February 2015. Retrieved 23 April 2017. 
  17. ^ "Studley Purchase: Big Deal for Unusual Player". Wall Street Journal. 4 May 2014. Retrieved 3 April 2015. 
  18. ^ "Studley Savills Merger". Los Angeles Times. 2 June 2014. Retrieved 23 April 2017. 
  19. ^ "Three CBRE senior execs to operate under Savills". The Star. 18 February 2015. Retrieved 15 April 2016. 
  20. ^ "Savills Malaysia". The Edge Property. Retrieved 23 April 2017. 

Further reading

  • Watson, John Arthur Fergus (1977). Savills: a family and a firm, 1652-1977 (1st ed.). Century Benham. ISBN 978-0091295905. 

External links

  • Official website
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