Core Five doubles fee income in two years

Core Five is on track to increase fee income by more than a quarter this year to £9.5m.

The London-focussed cost consultant - which was founded by former Davis Langdon directors James Clark, Gerard Cook, Barry Hayden, Chris Amesbury and Stephen Pickersgill in 2012 - is set to increase fee income 27% in its current financial year to next month, up from £7.5m the previous year.

The increase means Core Five will have doubled its fee income in two years. Its staff numbers have also grown to 88-strong.

The consultant has specialised in the commercial, mixed-use and residential sectors in central London, but is also now providing a sports offering, which has seen it pick up an undisclosed project in the Middle East.

In addition Core Five still has its office in Denmark and Clark said the firm continued to experience strong demand in the Nordic region.

Closer to home the consultant is currently working on the redevelopment of New Scotland Yard, which is being delivered by Northacre on behalf of BL Development Limited, an investment vehicle controlled by Abu Dhabi Financial Group (ADFG).

The Middle Eastern investor purchased the site from the Mayor’s office for Policing and Crime (MOPAC) in December 2014 for £370m and secured planning permission last spring to create a residential-led mixed use scheme designed by architect Squire & Partners. ADFG acquired vacant possession of the site in november last year after the Met Police moved into its new headquarters at The Curtis Green Building on Victoria Embankment.

The scheme named The Broadway will provide 485,000 sq ft of residential space, 146,000 sq ft of commercial space and 37,500 sq ft of retail across six buildings rising up to 20 storeys set over two podiums. As Building went to press no contractor had been appointed on the scheme which is aiming to complete in 2021.

Core Five is also working on Almacantar’s mixed use scheme Marble Arch Place in London’s West End, which is being built by Multiplex.

The long-awaited Rafael Vinoly-designed scheme will include an 18-storey residential tower, a seven storey commercial building and a range of new ground floor cafes, restaurants and shops.