Deloitte Real Estate increased its turnover last year despite revenue from transaction and asset property management teams dropping.
The figures were part of this week’s overall Deloitte financial year results to 31 May.
Turnover for the real estate division increased from £144m to £146m, although the transaction and asset property management revenue was down to £14m from £19m the year before.
Nigel Shilton, head of Deloitte’s real estate business, said the revenues included the brokerage business, which it has subsequently offloaded and which had been delivering negative growth.
From April: Deloitte to transfer transactional teams >>
He said the remaining business had delivered £6m in growth, which he described as a stellar performance.
The overall business turnover of Deloitte improved by 13.6% to £3.05bn – the first time it has surpassed £3bn.
Deloitte is advising on complex projects including Network Rail’s real estate strategy and the refurbishment of the Palace of Westminster, but Shilton said: “We are still very much focused on the day-to-day nuts and bolts of what we do because that is why several years ago we undertook the Drivers Jonas transaction – it really adds value to our business.
“But what we have to recognise is where we truly add value is where we can join up with other parts of the firm and deliver solutions to clients on complex problems.
“They don’t need to be mega and huge. They just need to be complex and requiring something just a little bit different to what other real estate providers can provide.”
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