16th February 2015
Alder King posts strong set of accounts with profits up by 9%
Leading independent property consultancy Alder King has enjoyed another successful year’s trading, increasing turnover by 5.5% and, more significantly, profits by 9%.
The firm, which is headquartered in Bristol and employs 124 staff, has posted pre-tax profits of £3.74 million for the year ending 31 August 2014, with strong cash reserves of £3.4 million.
Martyn Jones, senior partner at Alder King, said: “The last financial year was a year of two halves, with the second half performing particularly well thanks to a significant improvement in our transactional business. We’ve seen occupational demand strengthen and the signs are very positive that this side of the business will continue performing strongly into the next financial year.
“Together with our consultancy services, which include our valuation, planning, property management, lease advisory and building consultancy teams, we have a very strong business model for growing profitability over the next 18 months.”
Jones added: “It is very pleasing that our transactional business has come out of the economic slowdown so strongly, delivering a high volume of deals on behalf of clients.
“Notable transactions include the pre-let of a new 52,000 sq ft headquarters for UK nuclear energy specialists Horizon Nuclear Power at Gloucester Business Park, the acquisition of Beacon House, the former Habitat store, in Bristol on behalf of The University of Bristol for a new central learning and study hub, and the acquisition of the Castle Quarter portfolio in Cardiff on behalf of Mansford Real Estate for in excess of £20 million.
“Other significant achievements include our appointment by BAE Systems to manage the disposal of the 354 acre Filton Airfield site in north Bristol.”
Alder King has also made significant investments in new staff, with a number of strategic senior level appointments in its Bristol, Cardiff and Exeter offices. Further new appointments are scheduled over the coming months.