JLL bolsters UK retail team with KLM acquisition
JLL has bolstered its retail capabilities in the UK market with the acquisition of London-based boutique retail property advisory firm KLM.
The acquisition will see 17 members of the KLM team join JLL to create a combined retail team, providing services spanning leasing advisory, investment transactions, and strategic consulting.
KLM is an established retail agency and lease advisory specialist with mandates that span London and the regional markets. The firm’s client portfolio includes The Crown Estate, the South Kensington Estate, and Pret a Manger.
JLL said it is making this addition to its retail offering as consumer spending continues to exceed expectations, despite economic pressures. JLL cited that consumer confidence is being driven primarily by reduced household savings rates buffering against weak income growth and – despite some headwinds – it anticipates the UK consumer may prove remarkably resilient through Q4 and beyond, translating into a requirement for bricks and mortar retail.
Matthew Richards, UK CEO at JLL, said: “This acquisition reflects the strategic fit between KLM and JLL and our continued focus on London as a world-leading retail destination and global financial centre. Bringing KLM’s specialist expertise together with our platform strengthens our ability to serve global occupiers who demand consistency and deep market knowledge across London and the wider UK.”
James Andrews, partner at KLM, added: “Joining JLL represents an exciting opportunity for our team and clients, JLL’s global platform, resources, and commitment to the retail sector will enable us to deliver even greater value to our clients. We’re impressed by JLL’s vision for retail and look forward to contributing to the growth of this dynamic platform while maintaining the specialist expertise and relationships our clients value.”
Paul Marshall, head of retail agency at JLL, said: “This acquisition demonstrates our strategic commitment to investing where we have scale, competitive advantage, and industry leadership. KLM brings specialist retail capability and long-standing client relationships that complement our existing platform with minimal overlap. Together, we can compete at scale and deliver a holistic view of the retail sector across the built environment. This move strengthens our ability to meet client demand for greater consistency and expertise, particularly across EMEA, while creating significant opportunities for cross-business line collaboration.”