Savills

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"Savill" redirects here. For other uses, see Savile.
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]
£135.8 million (2016)[2]
£99.8 million (2016)[2]
Number of employees
33,000 (2016)[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[edit]

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]

Operations[edit]

The company provides consulting services and advice (such as valuation, building consultancy, 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[edit]

Savills Australia was established in 1996. In 2016 senior management was 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.[9][10][11] Savills operates out of several Australian offices. As well as offices in capitals, New South Wales and Victoria also have branch offices in the regions.[12] Savills Australia is focussed on real estate transactions and the property market generally, with little extension into other financial services such as investment management seen globally.[13][14] In 2016 Australia rose to second place afterJapan 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.[15] A large part of his was Savills sale of Fortius’ 75 per cent stake in Sydney’s 420 George Street to Investa Commercial Property Fund for $442 million.[16] 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.[17]

Philippines[edit]

In early 2013, Savills announced its new Philippine association with KMC MAG Group, the largest Philippine based real estate services firm.[18] KMC MAG Group, identifying itself as "an international associate of Savills" has headquarters in Bonifacio Global City, a prime business district in Manila. It has over 100 employees involved directly in transactions for office, investments, retail, industrial, hotel and residential. KMC MAG Group's client portfolio includes enterprises such as Canon, QBE, ANZ and Fox.[19] Michael McCullough is Managing Director, Gregory Kittelson Chairman of the Board and Amanda Rufino Carpo Chief Legal Officer.[20] Manila’s office market expanded in 2015, driven by the IT business process outsourcing.[21]

Indonesia[edit]

In May 2014, Savills announced it has established a presence in Jakarta, Indonesia, working in partnership with local experts, Property Connection Indonesia.[22] 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.[23][24]

United States[edit]

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.[25] 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.[26] Mitchell Steir is Chairman & CEO, and Michael D. Colacino is President, both in New York.[27] Subsequently, the firm established several new offices across the United States, including Phoenix, Austin, Minneapolis and Baltimore and completed several high-profile acquisitions, including Cresa Carolinas offices in Charlotte and Durham, North Carolina; Real Facilities in Toronto; Cooper Brady Partners in Silicon Valley; and New York-based management consulting firm KLG Advisors. In July 2016 Savills studley acquired of Memphis-based Sterling Solutions with offices in Memphis and Cleveland, Established in 1998, Sterling Solutions was an operations management consulting firm specializing in transportation management, distribution and plant network optimization and third party logistics management led by David Sterling and Nick Pacitti.[28]

Malaysia[edit]

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.[29] Savills Malaysia managing director is Allan Soo.[30]

See also[edit]

References[edit]

  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 March 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 makes investment in online hybrid estate agent". Savills. Retrieved 3 June 2016. 
  8. ^ "Savills strengthens Midlands position with GBR Phoenix Beard acquisition". Retrieved 2016-08-12. 
  9. ^ Paul Craig Commences as CEO at Savills Australia & New Zealand http://www.publicnow.com/view/8D1E346F678F8A400606097C21F3B894740AA997?2016-04-07-02:00:35+01:00-xxx4391
  10. ^ Australian Financial Review http://www.afr.com/real-estate/commercial/paul-craig-to-take-over-from-paul-mclean-at-savills-20151106-gksik5
  11. ^ New chief Paul Craig takes reins as Savills finalises leadership transition http://www.commercialrealestate.com.au/news/new-chief-paul-craig-takes-reins-as-savills-finalises-leadership-transition/
  12. ^ Savills, Australian Senior Management http://www.savills.com.au/about-savills/management/australian-senior-management.aspx
  13. ^ Savills Australia Services http://www.savills.com.au/services-and-sectors/
  14. ^ Savills Investment Management http://www.savills.com/services/investment-management.aspx
  15. ^ Property Council of Australia https://www.propertycouncil.com.au/Web/Content/News/National/2016/Australia_sets_standard_for_capital_transactions.aspx
  16. ^ Savills Australia Blog http://www.savills.com.au/blog/article/144733/australia-articles/australia-sets-standard-for-capital-transactions.aspx
  17. ^ Brisbane’s Former Supreme And District Courts To Become Five-Star Hotel In $63 Million Deal 21st May 2013 https://www.theurbandeveloper.com/brisbanes-former-supreme-and-district-courts-to-become-five-star-hotel-in-63-million-deal/
  18. ^ "Savills confirms KMC MAG Group Inc. as an International Associate of Savills". kmcmaggroup.com. Retrieved 3 April 2015. 
  19. ^ Savills Philippines http://kmcmaggroup.com/about-us/company-overview/
  20. ^ Savills Philippines Leadership Team http://kmcmaggroup.com/about-us/our-people/leadership-team/
  21. ^ Asian Cities Report manila Office 2015 http://pdf.savills.asia/asia-pacific-research/asia-pacific-research/asian-cities---ph-office-2h-2015.pdf
  22. ^ "Savills opens new office in Indonesia". Property Wire. Retrieved 3 April 2015. 
  23. ^ Savills strengthens its Indonesian business Muneerah • February 6, 2015 http://www.propertyguru.com.sg/property-management-news/2015/2/82924/savills-strengthens-its-indonesian-business
  24. ^ Savills adds Depth and Strength to its Indonesian Business 05 February 2015 http://www.savills.com/_news/article/63/134576-1/2/2015/savills-adds-depth-and-strength-to-its-indonesian-business
  25. ^ "Studley Purchase: Big Deal for Unusual Player". Wall Street Journal. 4 May 2014. Retrieved 3 April 2015. 
  26. ^ Los Angeles Times 2 June 2014 http://www.latimes.com/business/realestate/la-fi-mo-studley-savills-merger-20140602-story.html
  27. ^ Savills Studley http://www.savills-studley.com/our-firm-leadership.htm
  28. ^ Savills Studley Bolsters National Industrial Team With Acquisition of Sterling Solutions http://www.savills-studley.com/99c8c858-ba8e-43dd-b29a-b5203d487b3d/our-firm-press-room-detail.htm
  29. ^ "Three CBRE senior execs to operate under Savills". The Star. 18 February 2015. Retrieved 15 April 2016. 
  30. ^ The Edge Property http://www.theedgeproperty.com.my/tags/savills-malaysia

Further reading[edit]

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

External links[edit]