Alternative investments provide boost for JLL’s 2019 bottom line

JLL has achieved a decade of growth in the Australian market after its revenues and profits tra­cked higher through 2019.

JLL Australia chief executive Stephen Conrry. Picture: Jeremy Veitch

JLL has achieved a decade of growth in the Australian market after its revenues and profits tra­cked higher through 2019 on the back of strong transactions levels.

The levels of growth last calendar year outpaced that of 2018, led by strong increases in revenues from JLL’s alternative investment business (up 29 per cent), projects management (up 13 per cent) and facilities management (up 18 per cent).

Stephen Conry, the chief executive of JLL Australia, said the growth was achieved despite a heavy investment in technology, systems and people needed to meet the market.

“It was a record year for our business,” Mr Conroy said.

“The largest growth came from alternative investments which remains firmly on the radar for investors.”

The Australian office investment market reported a record year as transactions reached $22.5bn, slightly ahead of the 2018 levels. Office leasing levels remained mostly unchanged.

One of Australia’s largest ever deals, the $1.476bn sale of 80 Collins Street in Melbourne to Dexus, was inked by JLL and Savills.

The company’s Brisbane office team also had a busy year, with high volumes and large deals.

JLL noted strong demand for strategic advice. Valuations and advisory revenues increased 10 per cent, while research (up 30 per cent) and consulting (up 13 per cent) also improved.