JLL has acquired KLM Real Estate, a London-based boutique retail property advisory firm, in a move aimed at strengthening its retail capabilities across the United Kingdom. The acquisition will bring 17 KLM colleagues into JLL and add specialist expertise in retail agency and lease advisory. KLM’s client portfolio includes The Crown Estate, the South Kensington Estate and Pret a Manger. The combined team will provide leasing advisory, investment transaction and strategic consulting services. The acquisition forms part of JLL’s strategy to grow key asset classes and expand its retail offering.
Key Takeaways
- JLL has acquired London-based retail property advisory firm KLM Real Estate for an undisclosed price.
- The acquisition will see 17 KLM colleagues join JLL.
- KLM’s clients include The Crown Estate, the South Kensington Estate and Pret a Manger.
- The combined team will provide leasing advisory, investment transactions and strategic consulting.
- The deal strengthens JLL’s retail capabilities across London and the wider UK market.
JLL Strengthens UK Retail Capabilities Through KLM Acquisition
JLL has acquired KLM Real Estate (KLM), a London-based boutique retail property advisory firm, in a move that will significantly enhance its retail capabilities in the United Kingdom. The acquisition forms part of the company’s strategic focus on growing key asset classes. The purchase price has not been disclosed.
The acquisition will see 17 KLM colleagues join JLL. KLM is an established specialist in UK retail agency and lease advisory, with mandates spanning London and regional markets. Its client portfolio includes The Crown Estate, the South Kensington Estate and Pret a Manger, complementing JLL’s existing client relationships and creating opportunities to deliver its broader services across the UK’s retail market.
KLM is also an established retail and leisure agency that has marked 35 years in business. Further information about the firm is available through its CoStar company profile and a recent profile of its business.
The acquisition is part of JLL’s wider strategy to invest in areas where it has scale, competitive advantage and industry leadership. The company expects KLM’s specialist retail capabilities and established relationships to complement its existing platform with minimal overlap.
Combined Team to Offer Integrated Retail Advisory Services
Following the acquisition, the combined retail team will provide services spanning leasing advisory, investment transactions and strategic consulting. The expanded offering is expected to give clients access to integrated solutions across JLL’s broader service lines.
The addition of KLM’s specialist expertise will also strengthen JLL’s ability to serve global occupiers seeking consistency and deep market knowledge across London and the wider UK.
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.”
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JLL Sees Resilient Consumer Spending Supporting Physical Retail
JLL is expanding its retail offering as consumer spending continues to exceed expectations despite economic pressures. The company cited reduced household savings rates as a key factor supporting consumer confidence and buffering the effects of weak income growth.
Despite some headwinds, JLL anticipates that the UK consumer may remain remarkably resilient through the fourth quarter and beyond. This resilience is expected to continue translating into demand for physical, bricks-and-mortar retail.
The acquisition also comes amid signs of recovery in the UK’s retail real estate market following years of pressure from e-commerce and the pandemic. KLM’s specialist capabilities and established relationships are expected to strengthen JLL’s position in the sector.
Outlook
JLL’s acquisition of KLM Real Estate strengthens its UK retail advisory platform by adding specialist expertise, established client relationships and additional colleagues. The combined team will provide services across leasing, investment transactions and strategic consulting, while supporting JLL’s broader strategy of growing key asset classes.
The deal also reflects the company’s confidence in the UK retail market, where consumer spending has continued to exceed expectations despite economic pressures. As demand for physical retail persists, the expanded platform could create opportunities for JLL to serve occupiers and property clients across London, regional UK markets and the wider EMEA region.
The financial terms of the acquisition have not been disclosed. The number of KLM colleagues joining JLL is stated as 17, although the supplied coverage also notes that Will Andrews’ approximately three-person out-of-town retail and leisure investment team will not be transferring as part of the deal.
Frequently Asked Questions
1. What company has JLL acquired?
JLL has acquired KLM Real Estate, a London-based boutique retail property advisory firm specialising in UK retail agency and lease advisory.
2. How many KLM employees will join JLL?
The acquisition will see 17 KLM colleagues join JLL. However, the supplied coverage notes that Will Andrews’ approximately three-person out-of-town retail and leisure investment team will not be moving as part of the acquisition.
3. Which clients does KLM Real Estate serve?
KLM’s client portfolio includes The Crown Estate, the South Kensington Estate and Pret a Manger.
4. What services will the combined JLL and KLM retail team provide?
The combined team will provide leasing advisory, investment transactions and strategic consulting, offering clients integrated solutions across JLL’s broader service lines.
Sources: JLL , Property Week, CoStar
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