John Ogden

CBRE enjoys Q3 surge

CBRE Manchester is on course for the best office agency figures for five years, the company said as the US group announced strong results for the third quarter.

John Ogden, managing director, CBRE Manchester, said: "It has been an exceptional quarter for the Manchester office. Particularly strong areas of our business have included office and industrial agency, with 2011 looking to be our strongest performance in five years in office leasing."

The Los Angeles-headquartered and New York-listed group produced European turnover of $276.0m in Q3 2011, up 28% from the same period in 2010. Opertaing profit rose 22% to $17.5m. Figures for the UK were not disclosed. Globally, the group boosted profit 12% to $63.8m on Q3 revenue of $1.5bn.

Ogden continued: "The market in the North West is still tough, although our proactive and integrated approach is attracting clients and therefore paying dividends. In response to the challenging market, we have continued to develop new ideas and solutions for clients, a good example being our new regional real estate finance platform, recently introduced to enhance client access to advice on the financing of properties and structuring."

Nick Rice, managing director of CBRE Liverpool, said: "The third quarter has continued to see a steady stream of activity across our Liverpool business, with a number of high profile deals completed. While the Liverpool market is likely to remain subdued into 2012, there is activity taking place in the city and wider region that gives cause for optimism.

"In particular, the Wirral International Trade Centre within the Wirral Waters project, and the Liverpool Waters development, are fantastic schemes for Merseyside that will encourage inward investment, stimulate the economy and drive growth. Furthermore, the core of the city continues to go from strength to strength, with the final completion of English Cities Fund's St Pauls Square development and Merepark's Central Village scheme progressing apace."

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