Real estate giant CBRE - which has a major presence in Birmingham - saw third-quarter profits jump on higher-than expected sales.
The US group saw its European operation turnover $276.0m, up 28 per cent from the same period in 2010. Opertaing profit rose 22 per cent to $17.5m. Globally, the group boosted profit 12 per cent to $63.8m on revenues of $1.5bn.
Martin Guest, managing director of the Birmingham office of CBRE, said: “Whilst the commercial property market remains challenging and occupier sentiment is still muted, our Birmingham office is performing well. We continue to be involved in many major projects and have grown the business compared to last year.
“Our offices team has won two major new leasing instructions – Two Snowhill and the Mailbox - whilst our industrial team has advised on 60 per cent of transactions in the shed market, including the record 707,000 sq ft Amazon deal at Gazeley’s G.Park in Rugeley. Our capital markets and building consultancy teams were also involved in the sale of the Mailbox, the UK’s largest mixed-use building.”