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TODAY'S OTHER NEWS

Agency defies London market gloom by opening new City branch

Fraser & Co is opening a new office in the City of London, despite gloomy reports from other agencies about the state of the market in prime areas of the capital.

Fraser & Co already has four other branches in London - in Paddington, Marylebone, Kew Bridge and Brentford - as well as offices in Hong Kong and Dubai.

Its new City of London branch will house 10 staff in a 1,300 square foot office.

Over the past year, Fraser & Co says it has increased its turnover by over 23 per cent, representing more than 12 leading developers and 34 developments, generating in excess of £600m in gross development value. Its high profile London development portfolio includes 50 Kensington Gardens Square, Bayswater Apartments, Hanway Gardens and The Nova Building.

The firm says the new office will service City Road and the surrounding area, which has become a popular location for young professionals working in the area, which has tech company premises for Cisco, Facebook, Google, Intel and McKinsey & Co.

The opening comes despite downbeat reports on prime London’s residential market from agencies including Savills and Rokstone and investment firm Central London Portfolio.

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