Montagu Evans 2023/24 Report and Accounts: Growth Plans Take Shape Following a Resilient Year

In its annual report and accounts published this week at Companies House, Montagu Evans has reported annual revenue and profit increases in its financial year to 31 March 2024.

Against a backdrop of continued economic uncertainty, the partnership reported revenue of £56.0 million and a statutory profit of £14.4 million in its last full financial year.

Revenue on continuing operations increased by £3.2 million to £51.6 million, representing 7% growth. The firm’s Planning and Advisory teams reported increases in income of 9% and 10%, respectively, with investment and growth in key areas. On 1 July 2024, the firm completed its divestment from Property Management.

Investment in the business in the 2023-24 financial year continued, with an increase in research and insight activity for clients, expanded sustainability capability and strengthening of operational infrastructure. DE&I and employee wellbeing remained a Board-level focus.

Three promotions to Partner were made at the start of the financial year, and recruitment of senior lateral hires continued, with appointments in Central London and data centre planning, Rating advisory for occupiers and I&L sector development/agency.

Statutory profit increased by £0.3 million year-on-year to £14.4 million. The average member’s remuneration increased by 5% to £353k, with the highest-earning member earning £676k. Company-wide bonuses awarded to staff were up by 6%.

Working across the public and private sectors, Montagu Evans’ clients range from government departments, Homes England, NHS Property Services, the GLA, Network Rail, TfL, local authorities and NHS Trusts to CBRE IM, Aviva, L&G and Columbia Threadneedle, LandSec, British Land, SEGRO, Commercial Estates Group, St William and Taylor Wimpey.

In London, it is heritage adviser for M&S Marble Arch, which was given the green light by the new MHCLG Secretary of State earlier this month, and provided planning, advisory and leasing advice for Network Rail’s Bow Goods Yard scheme in Stratford, which was approved earlier this year. It is currently advising on future plans for Earls Court/Olympia, Shoreditch Works, Orchard Wharf, the Royal Albert Dock and the British Museum, among others.

In Liverpool, Montagu Evans has launched the search for a new development partner for Festival Gardens. Further north, it was a planning consultant for The Àrd PBSA in Glasgow, one of Scotland’s tallest buildings, and has been instructed for planning on Scotland’s first ever Centre Parcs, south of Edinburgh.

Outgoing Managing Partner Rob Bower, said: “The growth of this partnership during my tenure, its resilience in tough times, commitment to its people and ability to support clients across their most challenging planning and development requirements is something I am immensely proud of.

“We have continued to build on our market-leading town planning and heritage reputation, and we have also built a stand-out advisory business – both transactional and consultancy. We are now streamlined into areas where we have the scale, critical mass, connections and depth of experience to deliver market-leading advice to our clients, who remain front and centre of all that we do.

“There are clear opportunities ahead. Financially, we are performing well and it is the right point in the cycle to invest, backed by Partners who have provided millions of pounds in new capital in the last quarter. Building on our strong position with more Partners and greater expertise, we will ensure that, as the business moves forward under new leadership, we continue to offer the strategic thinking, commerciality and responsiveness the market has come to expect.”

Current Head of Advisory, Alan Harris will become the firm’s tenth Managing Partner from 1 April 2025. The firm’s leadership transition programme is well underway and recruitment of senior people in key strategic areas of the business continues.