JLL Australia books 15pc revenue jump

Matthew Cranston|Apr 17, 2019

JLL Australia had a strong September quarter winning big government contracts and transacting the largest office deal in the country pushing revenue up 15 per cent for the first nine months of 2017 compared to the same period in 2016.

Globally, JLL’s revenue was up 14 per cent to $US1.9 billion ($2.47 billion) with fee revenue up 12 per cent to $US1.6 billion. Asia Pacific revenue was $US413 million, an increase of 24 per cent from 2016 with fee revenue coming in at $US309.7 million, an increase of 13 per cent from last year.

The fee revenue reflected strong performance in the company’s capital markets and hotels division as well as property and facility management and was geographically led by Australia, Greater China and Japan.

JLL Australia chief executive Stephen Conry said the growth was driven by appointments on large government contracts, property management and exclusively negotiating one of the single biggest office deals in the Australian market.

“We are also seeing growth in our valuations business and expanded our agribusiness valuations team in the September quarter, by adding a number of recruits to bolster this business.”

In September, JLL was appointed as a Property Service Provider under the Whole of Australian Government (WoAG) property procurement tender, providing integrated facilities management services to 34 government entities. The company was also awarded another government contract covering 276 properties in the Victorian Department of Treasury and Finance shared services portfolio

And in September JLL’s Rob Sewell, Simon Rooney, Simon Storry, and Paul Noonan exclusively brokered the single biggest office deal in Australia – a 49.9 per cent interest in Brookfield’s $1.9 billion Wynyard Place development in Sydney.

Outside Australia all divisions saw increases in revenue growth. In the US total revenue was $US796.7 million and fee revenue was $US749.2 million, representing increases of 3 per cent and 5 per cent, respectively, compared with 2016.