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FM division assists company's 16% revenue rise

23 August 2018

Additional food for thought on the topic of how the FM and real estate sectors are combining has been provided by the news that Scanlan has recorded a 16% rise in annual revenues.

Its figures to the company's financial year end in March recorded a rise from £3.8m to £4.4m, driven by growth across all operations, including FM.

Scanlans property management division, which includes its FM department, posted a 10% rise in revenues, driven by new instructions for managing apartment blocks in Manchester, Liverpool and Birmingham.

Further growth was recorded by its property surveying team, which was attributed to securing key appointments and resulting in 6% year-on-year growth.

The Manchester-based company purchased the Pad Residential property sales, letting and management agency in early 2017 and Scanlans chairman Ian Stanistreet said more growth is expected in the current financial year for all divisions.

"There has been a marked increase in the number of developments being managed by Scanlans Property Management and, with new schemes under way, we are confident of achieving further expansion this year," he said.

Recent expansion of the company's Leeds office is expected to result in more growth from the Yorkshire market, with Pad Residential helping to expand its management of build-to-rent blocks.

Scanlan FM division was established in 2016 to provide cleaning and caretaking services and currently works across 45 sites in the North of England.

Its surveying service provides commercial and residential property valuations, surveys, LPA receiverships, expert witness advice, rating and leasehold enfranchisement.

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