Turnover Up 32% at Ryden
9th May 2007
Record income as firm smashes £15million barrier
Commercial property consultant Ryden today reported a 32% rise in turnover to £15.6million in the 12 month period to 30 April 2007. Fee incomes reached a record high and represent a long period of growth.
The surging commercial property market has created buoyant conditions, with investors snapping up property investment opportunities. Acting for investor clients, Ryden’s Investment & Finance team purchased a Novotel in London for £87 million and the OneTrinityGardens and Stockbridge House office buildings in Newcastle for £57 million. It also disposed of an industrial ground lease portfolio in Aberdeen for £59.3 million and the Sentinel office building in Glasgow for £38.525 million.
The firm, which is headquartered in Scotland, has been particularly active in Glasgow where inward investment by developers has created some of the largest new office buildings ever seen in the city. The Agency & Development team acted as advisors and letting agents for Glasgow’s most prominent schemes, including Aurora (16,450 sq m), Sentinel (7,784 sq m) and Optima (10,683 sq m). Tenants secured for the new office developments included Barclays Bank and Burness LLP (Aurora), Morgan Stanley UK Group and AON (Sentinel) and Scottish Ministers and Capgemini (Optima).
Fiona Morton, Ryden’s managing partner said: “The ongoing commitment and determination of our people is the secret of our success as the market is busy but it is also very competitive. The advice they give goes beyond deal making to provide everything from initial planning to monitoring construction and, most importantly, extracting value for clients. I am delighted to see Ryden go from strength to strength.”
