In its first release of performance figures under the ownership of BNP Paribas, the UK agency Strutt & Parker says it sold 2,291 properties last year, with a total value of £2.9 billion.
There is no breakdown of the Strutts data - the agency handles estates, farms and some commercial property as well as high-end London and country residential - but the high-level figures come in BNP Paribas’ announcement of record revenues.
The French-based company says it enjoyed revenues of €811m in 2017 (up 20 per cent on the previous year); its profits last year were 20 per cent up on 2016 at €187m before tax.
Some 46 per cent of its revenues came from outside of France, and these include the Strutt & Parker income.
“The acquisition this year of the UK company Strutt & Parker is a compelling illustration of our international expansion. Indeed, building on our leadership positions in France and Germany, this external growth has enabled BNP Paribas Real Estate to considerably strengthen its network in the UK. Our company is now a leader of real estate services in Europe” says Thierry Laroue-Pont, chairman of the management board of BNP Paribas Real Estate.
The former senior partner at Strutt & Parker, Andy Martin - now chief executive of BNP Paribas Real Estate Advisory UK - says: “2017 was a momentous year for BNP Paribas Real Estate in the UK, bringing together two leading brands and two exceptional groups of people to create a compelling new service offering for our clients, and a platform that will complement our market-leading positions in France and Germany.
“We intend to use this position as a foundation for growth in 2018. We are now a business that reaches in to all aspects of UK real estate and that, as part of BNP Paribas, can offer clients a more holistic approach, something that is unique in this market.”