Property consultant JLL is growing its alternative property advisory business with the creation of a dedicated team based in Leeds, led by director Harry Hawksby.
Alternatives is one of the fastest growing sectors in the UK property market and accounted for nearly a third of all UK property investor activity last year. Under the alternatives umbrella are such diverse property types as hotels, a long established niche sector, along with student housing and healthcare, and newer property assets, such as self storage, the private rented sector (PRS), affordable housing, car parking and automotive, renewables and data centres.
This year, JLL expects to see £15 billion of investment in the sector, as investors increase their understanding of the various asset classes, while at the same time looking to protect themselves from economic uncertainty in the mainstream commercial markets of offices, industrial, retail and residential properties. JLL transacted a quarter of the alternative market in the UK in 2016.
Harry Hawksby, lead director for JLL’s Alternatives team in Leeds, said: “With a growing number of investors looking to increase their exposure to alternatives, the timing is right to focus fully on this sector from Leeds. Our clients are continuing to seek out opportunities with robust returns – our new team will enable us to better support their ambitions across Yorkshire and the North East, supported by over 100 specialists in these markets across JLL in the UK.”
Jeff Pearey, North East Lead Director at JLL, added: “Harry and his team had already developed a leading market position in the hotels and leisure park sector. Their focus on developing the wider alternatives business, gives our clients across the region access to investment, corporate finance and valuation professionals and is a direct response to the emerging scale and maturity of the alternatives property market.
“Harry is ably supported by Associate Director Alistair Jack and Nick Peart-Moisey, and we hope to see significant growth in this area of our business in the coming years.”
JLL has been providing property advice in alternative markets for over 30 years and was the first property consultant to set up a dedicated team in the UK.