Commercial property consultancy Jones Hargreaves reports strong Q1

Commercial building, project and sustainability consultancy Jones Hargreaves has reported a 73 per cent revenue increase in Q1 compared to the same period last year as the firm continues to grow its team and widen its services.

The national consultancy firm, which has offices in Bristol, Leeds, Manchester, Cardiff and London, has also seen a 60 per cent uplift in client instructions across its regions between January-March 2023 when compared to Q1 2022.

Logistics project work has had a particularly buoyant start to the year, with investors re-prioritising assets.

Jones Hargreaves was established in 2009 by Matthew Jones and Peter Hargreaves and have since been joined by partners Matt Williams and Nick Twigg. The firm’s services include building consultancy, sustainability consultancy, MEP and project management.

Earlier this year Jones Hargreaves opened offices in Manchester and Bristol and made a raft of senior hires to meet demand. This followed on from the expansion of its dedicated sustainability team during 2022; with Huw Davies appointed as Head of ESG to lead this arm of the business.

In Bristol, the Jones Hargreaves team is currently leading the refurbishment of a circa 36,000 sq ft office in north Bristol, which is being completed to BREEAM Excellent standards.

The team has also provided technical due diligence services to a national institutional client in respect of a complex office disposal of over 100,000 sq ft.

Nic Excell, senior associate partner at Jones Hargreaves in Bristol, said: “There’s tenant demand for both logistics and office space, but until recently there has been a shortage of assets. The start of 2023 has seen a resurgence in activity as prices started to flatten and confidence began to recover; prompting a year-on-year uplift in demand for our services.

“We continue to see the commercial property market proving resilient in the face of economic headwinds with a notable uptick in industrial and logistics transactions where market sentiment appears to have solidified following a turbulent period. We have been delighted to provide timely technical due diligence services to assist our clients with multiple national acquisitions.

“It has been a strong and busy start to 2023 for us as we bolster our teams and regions to deliver high quality work.

"Logistics has performed well and so have sustainability projects across our client portfolios.

"We will continue to remain close to the market to understand and prepare clients for the inevitable fluctuations in the economy, helping them to make decisions based on solid advice which will ultimately allow them to realise expected values of their commercial properties.”