Lambert Smith Hampton has posted EBITDA of £8.3m for the 2022 year end, down more than a third on the previous year (2021: £13.1m).
Total income stood at £87.8m, down 8% on the previous year (2021: £95.5m), after what the Connells Group-owned firm described as a “turbulent year for markets in general and a year of transition at LSH”.
Chief executive Ezra Nahome (pictured) said: “In my 20 years at LSH we have continuously adapted to meet the needs of our clients in a dynamically changing market. Last year was particularly difficult, not least because of the combination of the impact of the conflict in Ukraine, the growing cost of living crisis, and interest rate increases impacted on all markets but, particularly the transactional sectors.
“Dealing with one of these factors is tough enough but all three at the same time has been particularly challenging.”
LSH operates from 30 offices around the UK and last year invested in new premises in London, Bristol and Milton Keynes.
The company reported that its national transactional teams have built a strong pipeline of mandates to be realised over the next 24 months, particularly in the housing and industrial markets.
It has accelerated its investment in its ESG proposition and grown its list of public sector instructions, winning new mandates to help local authorities throughout the UK deliver on their ‘levelling up’ regeneration agenda.
Key wins across the business in 2022 include:
- Mandates from the BBC to advise on the sale of its Maida Vale studios and relocation to the new Digbeth studios in Birmingham.
- Being appointed by Fareham Borough Council, Mid-Sussex District Council and other local authorities to advise on major shopping centre/ regeneration strategies.
- The sale of IHG’s global headquarters at Broadwater Park to Bosch.
- The sale of Oxfam’s headquarters at Oxford Business Park.
- Being appointed leasing agents on Panattoni Park Burgess Hill.
- Being appointed strategic advisers to Marks & Spencer across its entire logistics portfolio.
- Being appointed advisers to Evri.
- Being appointed by Logicor across its portfolio of leasing mandates.
See how LSH compares to other agencies with our On-Demand Rankings>>
To send feedback, e-mail julia.cahill@eg.co.uk or tweet @EGJuliaC or @EGPropertyNews
