Lambert Smith Hampton recorded £87.8m in total revenue earnings for 2022 with profits sliding largely due to torrid market condition. While a modest 8% decline was endured on turnover, EBITDA fell by just over a third to £8.3m.

Major factors include the conflict in Ukraine, the cost of living crisis, and rising interest rates have created a turbulent year for markets within the property sector.

LSH has undergone a “year of transition” with the Skipton Building Society/Connells Group-owned company “adapting to navigate difficult and challenging trading conditions”.

The company, which operates from 30 offices around the UK, moved into new premises in London, Bristol and Milton Keynes during 2022 and “invested significantly in hiring new talented individuals across key service lines as the business builds for the future”. LSH said that it had been building a strong pipeline of mandates over the next 24 months, particularly in the residential and industrial markets. The company “continues to re-engineer its operating model to meet the changing needs of its clients”, accelerating investment into its ESG proposition.

Key LSH 2022 Business:

• Mandates from BBC to advise on sale of Maida Vale studios and relocation to Digbeth Studios
• Appointed by Fareham Council, Mid-Sussex Council and other local authorities to advise on major shopping centre/regeneration strategies
• Sale of IHG’s global HQ at Broadwater Park to Bosch
• Sale of Oxfam’s HQ at Oxford Business Park
• Appointed leasing agents on Panattoni Park, Burgess Hill
• Appointed strategic advisers to Marks & Spencer across logistics portfolio
• Appointed advisers to Evri 
• Appointed by Logicor across portfolio of leasing mandates

Public sector instructions also continue to be a major focus for the LSH and its Planning, Regeneration and Infrastructure team, which is advising local authorities on their “levelling up” regeneration agenda.

Ezra Nahome, chief executive, said: “In my 20 years at LSH we have continuously adapted to meet the needs of our clients in a dynamically changing market. Last year was a particularly difficult, not least because of the combination of the impact of the conflict in Ukraine, the growing cost of living crisis, and interest rate increases impacted on all markets but, particularly the transactional sectors.

“Dealing with one of these factors is tough enough but all three at the same time has been particularly challenging. 

“The commercial property industry is in a state of flux and it’s our job to help our clients navigate the market with confidence and certainty. I’m reassured that we’ve been able to post a decent set of numbers in this uncertain and turbulent market while future proofing the business”.