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News release


Jones Lang LaSalle Australian revenue and profit up for Q109

Property and Facilities Management, Advisory Services and Project Management are the stand-out performers in the Australian business

SYDNEY, 29 APRIL 2009 – Jones Lang LaSalle’s Australian business recorded a strong start to 2009, with both revenue and profit for the first quarter higher than levels achieved in 2008 for the same period.
Stephen Conry, Head of Jones Lang LaSalle in Australia said the results were better than expected in a challenging commercial property market, with revenue up 10% compared to Q108.
“Jones Lang LaSalle in Australia has recorded a strong business performance in an environment where transactional activity is down considerably during these difficult economic circumstances.
“The results achieved for the first quarter are the best start to a year that we have experienced for some years and reflect strategies put in place to grow non-transactional areas of the business to proactively protect revenues in the current environment.  While we are pleased with the pipeline of Sales and Leasing activity for our clients, we are mindful that these areas will be tougher in 2009 than in 2008,” Mr Conry said.
“Our strict approach to expense management is also a factor in the better-than-expected first quarter results.  We started this process early and are continuing to prudently manage our cost base in a challenging operating environment.
“Stand out performers in the Australian business for the quarter were the Property and Facilities Management business and Advisory Services, which both increased revenues by more than 25% over 2008 levels.   Project Management was another strong performer, increasing revenues by 15%.”
Key highlights for the Australian business in Q1, 2009:
Jones Lang LaSalle was involved in two of the largest office sales for Q1, 2009:
• Perth (April 09) – Sale of Australian Tax Office (ATO) building for $95m, brokered by John Williams
• Adelaide (April 09) – Sale of 25 Grenfell Street for $76m, brokered by John Talbot and Gregor Zorkovic (in conjunction with Colliers International)

Jones Lang LaSalle negotiated the largest retail transaction in Australia since January 2008:
• Total retail transactions negotiated by Retail Investments - Australia in Q1, 2009 totalled approx $262 million, including the sale of the Golden Grove Village Shopping Centre in South Australia for $100m, which is the largest retail transaction in Australia since Jan 2008
• Other transactions included Carseldine Homemaker Centre, Queensland ($30m), Ipswich City Square, Queensland ($45m), Alexandria Hills Shopping Centre, Queensland ($40m) and Centro Ringwood, Victoria ($39m)
Jones Lang LaSalle won major national contracts for Property & Facilities Management:
• Woolworths – (Feb 09) - national contract for over 20 shopping centres owned by Woolworths.  This appointment takes our total portfolio of shopping centres under management in Australia to over 100.
• Ericsson – (Mar 09) - two year contract with Ericsson to provide Integrated Facilities Management  (IFM) services across their 14 sites in Australia and New Zealand.

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