Vail Williams has reported its best ever year, with increased revenues up five per cent to £18.3 million for 2022-23.
The. 175-strong firm, which went through an internal reorganisation in recent years, says its growth continued in line with its current three-year business plan.
Managing partner Matthew Samuel-Camps said: “What is absolutely clear is that once again we have had our best-ever year as we continued to increase our fee income and outperform previous years.
“We have seen an excellent collegiate performance. We increased our team numbers, productivity improved, we did a lot more multi-disciplinary work and we continued to serve high-quality clients across a range of sectors. We continued to advance our expertise, our client base and the type of work undertaken.
“The agency team continued its strong performance from the previous year, our planners made significant inroads and grew our offering, while the building consultancy and restructured property asset management teams pushed ahead on all fronts.
“Our business plan is one where we are seeking to continue to grow and exploit opportunities to increase our service lines, develop new areas of expertise and look at appropriate geographic expansion to enhance our existing footprint.”
But he said the firm, which has 12 offices in the south and the Midlands, monitored challenges during the last financial year including world events, interest rate changes and the economy on top of commercial property market concerns such as home working affecting the office market.
He said: “We continued to see a flight to quality in terms of demand and an overall shortage of space – which is starting to ease now – yet there was more confidence in the property market this time last year as the impact of those interest rate rises had not been fully felt.”
The firm’s third quarter in late 2022 was one of its most challenging.
Mr Samuel-Camps added: “Enquiries for space fell by 20 per cent in our Q3 as a result of decisions made by other people. It was like a train hit the wall and the phone just stopped ringing. Thankfully, it was short lived and enquiries bounced back by 35 per cent in Q4, but let’s hope we don’t have to experience that again.”
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