JONES Lang LaSalle is planning to increase its market share in the residential market, its chief executive has revealed.
Guy Grainger heads up the UK business of the global agent – the second biggest in the world after CBRE.
In the UK, where it has 19 offices and 2,000 staff, Jones Lang LaSalle is better known as a commercial agency, but in a revealing interview Grainger revealed that while currently only 10 per cent of the firm's business is in residential property, he is planning to raise the stakes.
He said: "We're coming up fast on the rails in residential. It's our fastest growing sector. It is not a sector we are known for in the marketplace.
"People think of Savills and Knight Frank, but they do not necessary think of JLL. We have probably kept our residential expertise quiet, but we're going to be doing more and more of it as we grow our market share."
The firm is acting as agents for the sale of Battersea Power Station in London, which is to be converted into 3,400 flats.
It has so far sold 854 properties in the first phase, taking just three weeks to do it, with a total price tag of £850m.