Abstracts » Real estate industry

Quote checks

Article Abstract:

The performances of the UK's six quoted property agents are erratic, with some, such as Chesterton, underperforming, while others have achieved financial stability. Chesterton has seen its stock market value fall by half to 19 million pounds sterling following revelations of accounting errors and mismanagement. By contrast, Conrad Ritblat's merger with Speciality Shops will produce an agency and property investment business capitalized at 90 million pounds sterling. The most successful property agent, Savills, has diversified into parallel businesses and has established a financial services arm.

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Property in its prime

Article Abstract:

Trillium Chief Executive Manish Chande points out the company does not make the majority of its profits from service delivery. They make more from the management of their property assets. Pretax profits for 1998 reached 5.4 million pounds sterling. They employ 450 workers and 3,000 subcontractors. About 40% of the income is from service delivery. The company won the PRIME contract where it owns the Department of Social Security buildings, which encompasses 17.22 million sq ft of space. Trillium will manage the property for the next 20 years. The PRIME contract cost 250 million pounds sterling.

Real Estate Management, Activities Related to Real Estate, Real estate investment, Real estate investments, Executives, Company Profile, Chande, Manish, Trillium

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Homing in on new strategies

Article Abstract:

Some companies have been prompted by the slump in the housing market to drop their estate agency activities, and those which remain are still finding it very hard to attract clients. The main difficulty is low turnover, with demand being weak even though house prices are realistic. Some estate agents are now looking to improve profitability by diversifying or expanding.

Finance

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