A strong showing by GVA Grimley's Midland operation was a major contributor to the property firm's "exceptional" financial performance during the last year.
The property agency yesterday revealed that fees at its Birmingham office for the year ending in April went up by #2 million, year on year, to #19 million, a rise of some 12 per cent.
The Midland team provided GVA Grimley with a fifth of its UK income of #95 million, retaining its position as the partnership?s biggest feeearning centre outside of London.
Regional senior partner Malcolm Gloster said: ?This has been another year of excellent sustained growth, both for the business overall and for the Birmingham office in particular.
?Planning and regeneration and investment management have been notably strong drivers in the growth of our regional operation.
?It meant we were able to recruit many top- drawer people to our Midland team, and they will help this office grow still further in the coming 12 months.?
He added: ?I don?t see demand for our comprehensive range of services slowing. We have 16 separate business units, including specialist services such as regeneration consultancy, environmental consultancy, automotive and roadside, and corporate occupiers services, alongside the more mainstream agency and valuation services.
?Our success, therefore, is in the depth and range of services we provide.
?Regional demand is above the national average, and many investors are looking to put money into quality property.
?Demand should rise further if, as expected, the Bank of England cuts base rates within the next few months. Indeed the only thing that could stop the Midland market reaching its full potential is a shortage of quality commercial space.?
Nationally, GVA Grimley saw fees rise by 25 per cent over two years, while profits have risen by 60 per cent to #15.5 million.
Since 2000 GVA Grimley?s fees have risen by 75 per cent from #54 million, while profits have gone up 250 per cent.
GVA Grimley works with a broad spectrum of clients, ranging from blue chip multi-national organisations, including 44 of the FTSE 100 companies, to public sector and Government departments
Clients include the Ministry of Defence, English Partner-ships and Lloyds TSB.