BNP Paribas Real Estate generated a record €756m (£586m) in fee income during 2015 up 1.8% on the year before, according to its latest annual results.
The French bank’s real estate services arm continued to generate most of its business – 54% – from the French markets, with commercial real estate generating 88% of its income in 2015.
Advisory fees, including valuations, were the fastest growing element of the business, up 11.6% to €330m. This was the first time the company has generated more than €300m in fees from the service.
The biggest part of the business, the commercial real estate development arm, increased volumes to €971m, up 2.4% on 2014. Major deals completed during the year included King’s Cross, N1, which was rented to Google and AXA Real Estate.
The investment management arm of the business grew by 6%, with fee income of €113.4m. It had fresh inflows of €1.2bn during the year, taking assets under management to €22bn, of which 78% is managed for institutional investors.
The investment arm transacted more than €2.7bn of investments in the year.
Property management fees were flat on 2014 at €97m but the area that the company manages rose by 2.7% to 388m sq ft of space in 14 countries and 54 cities.
Residential turnover increased by 9% year-on-year to €546m. Within the unit 20,007 homes were launched, 58% of which were in Paris.
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