Bidwells passes £50m annual turnover for first time as it marks 180th anniversary
Bidwells is celebrating after passing the milestone of £50million in annual turnover for the first time.
Announcing record full-year results for 2018, the property consultancy and estate agency revealed that it maintained a profit margin of 15 per cent despite the period of economic uncertainty.
It’s £50.25million turnover was 4.2 per cent up year on year, and the first time in the company’s 180-year history that it had surpassed the milestone.
Bidwells transformed its Cambridge headquarters into a fully agile workspace last year, and attributed its focus on the Golden Triangle of Cambridge-Oxford-London, along with forestry and renewables, as key to its success.
Patrick McMahon, senior partner at Bidwells, said: “Last year we had record profit and this year record turnover. While figures aren’t everything, this is testament to the hard work, great clients and fantastic opportunities we are seeing in the growth corridor of Oxford and Cambridge, one of the world’s greatest economic opportunity areas.
“The government’s promise to invest in infrastructure and housing in the region means that this corridor will create even more opportunities for developers, investors and occupiers alike.
“As the key advisor in this area, we fully believe that Oxford, Cambridge and Milton Keynes will continue to grow well above the average GDP of the rest of the country and that this is an area that will continue to emerge as a global tech cluster in its own right – which is hugely exciting for the UK as a whole.”
Leading real estate advisor to the Cambridge and Oxford growth corridor, Bidwells has announced record full-year results with turnover at £50.25m (Dec YE), demonstrating a rise of 4.2 per cent from 2017.
Bidwells is the second largest independent partnership in the UK and the only one to focus solely on the UK. More than 80 per cent of its work is focused on the Golden Triangle, reflecting the above average growth seen in its science and technology industries in particular.
Bidwells said the UK’s forestry and renewables sectors will also play a key role in the government’s drive for post-Brexit self-sufficiency.
Bidwells, a multi-disciplinary consultancy, has offices in Cambridge, Oxford, London, Milton Keynes and Norwich, as well as four offices in Scotland.
Catherine Spitzer, MD of Bidwells, added: “Breaking £50m of turnover is the headline but by recording another year of good profit it means we have the strength and stability required to continue investing in our people and infrastructure.
“Our move back into a fully agile headquarters has further improved the cross-divisional service we provide to clients and this announcement really kicks off our 180th year in style; giving us confidence and optimism for the near, medium and long-term future.”
Bidwells works with investors, developers, occupiers, housebuilders and homeowners. It manages more than £5.2billion in property assets and employs 500 people.
More by this authorPaul Brackley