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McAslan’s revenue and workforce shrink

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John McAslan + Partners (JMP) has seen its turnover fall by 11 per cent amid a slowdown in UK work

Total revenue at the AJ100 practice fell from £11.9 million to £10.6 million in the 12 months to 31 October 2014 – according to accounts filed with Companies House.

The overall decrease came as turnover from UK projects fell by around 25 per cent from £7.7 million to £5.8 million.

Meanwhile the number of employees – including architectural and administrative staff – dropped from 98 to 87 during the period with employment costs decreasing by around £10,000.

The decision by communities secretary Eric Pickles to veto the practice’s £160 million regeneration of Smithfield Market was a set back during the year, although a retail-led alternative for the same client is now in the pipeline. It is understood the practice is also working with the Museum of London on future plans which, coincidentally, could see it relocate to Smithfield Market.

Completing an overhaul of the Museum of Methodism in London and winning a masterplanning job for Chelsea’s Sloane Street were more positive highlights of 2014 in the UK sector.

JMP’s income from overseas work increased by around 14 per cent from £4.2 million to £4.8 million in the same period. Key overseas achievements included winning a huge botanical gardens project for leading Chinese developer VANKE in Dongguan.

Profit before tax was meanwhile however reported as £294,040 up from a loss of £218,044 the preceding year. Board director Natasha Manzaroli said the increase was ‘a result of rebalancing our cost base so we can focus on areas where we excel.’

In the company’s strategic report, she said: ‘We have a strong pipeline of UK and international work and are expecting to consolidate on the profitability of the company in 2015 further to the results recorded in 2014.’

She continued: ‘We anticipate significant improvement though 2015 as we finalise our restructure proposals to bring a more financially sustainable structure with increased cash headroom. We believe this will increase profitability through 2015 and beyond providing a solid foundation for future generations of the business.’

Work in Russia and the cultural, residential and commercial sectors grew during the year to October 2014 – according to the statement.

The next twelve months could bring new opportunities in the Far East, South America and Canada – JMP predicted. An upsurge in the UK’s cultural, education, commercial and residential sectors was also predicted.

JMP said it expected its new ‘N17’ teaching practice studio in Tottenham would ‘further promote our business and cement our financil recovery’ by creating new opportunities for the firm to expand into urban regeneration.

 

 

 

 

 

 

  • 2 Comments

Readers' comments (2)

  • So now John McAslan + Partners’ display shop in High Road Tottenham has morphed into a "teaching practice studio". Which will be "...creating new opportunities for the firm to expand into urban regeneration".
    Some of us who live in Tottenham have suspected that the premises at 451-453 High Road were a route to getting in on the "regeneration" action. So it's refreshing to read JMP frankly admitting this.

    John McAslan Partners are enjoying these free premises at the cost of £181,548 from the public purse. (Figure obtained in response to a Freedom of Information Act request.)
    Although well in excess of the maximum €200,000 allowed under the EU "State Aid" rules, as far as I am aware Haringey Council did not apply for permission to subsidise JMP. Although there was a full year where they could have done this. Instead Haringey offset the subsidy by calculating the notional value of benefits-in-kind provided by McAslan.
    Well the cat is now out of the bag - courtesy of the AJ and Natasha Manzaroli, JMP spokesperson. It now appears that a substantial benefit may be flowing in the opposite direction giving McAslan+Partners opportunities for regeneration contracts.
    That this is a real benefit and not just wishful thinking, has been confirmed by a new website from Grainger plc which shows JMP's Designs for a new "landmark" building at Apex House N15. http://apexhousedevelopment.co.uk/
    The Apex House site is at the junction of High Road, Tottenham and Seven Sisters Road N15. It's opposite the highly contentious Wards Corner building where local protest groups have for years been locked in a battle with Grainger plc who wish to develop the entire block.
    The Apex website states that Haringey Council sold Apex House to Grainger in July 2014. Consultation is now taking place on McAslan's designs. Although it's hard to see what is being consulted on, as it strongly appears that the key decisions have already been taken. There will be a residential tower. The drawings show 22 storeys/ 70 metres. Another lower block - or perhaps a row of town houses - will fill the rest of the site.
    Haringey Council Services now located in Apex House are supposed to be moving at some point to the main Tottenham (Marcus Garvey) library - taking away half the existing floorspace from within the library itself. Not exactly another "benefit-in-kind" for Tottenham residents.

    My feelings about McAslan are coloured by what I see the firm can do. Two evenings ago my wife and I welcomed a friend arriving at Kings Cross Station. We enjoyed once again being in the beautiful Western Concourse (McAslan; & Arup) and the views from the new King's Cross Square.
    But urban regeneration in areas like Tottenham should be about serving existing communities and having sensitivity and understanding to people who live here. At present what’s presented as regeneration plans across Tottenham are little more than grabbing public land because it's available. Or could be made available if enough existing residents are booted-out; and existing homes and businesses booted-out. The sites would be used for mainly private tower-blocks to meet numerical housing targets.
    JMP clearly have the skills, imagination and experience to do something far far better. Will we see it?

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  • dominic cox

    "should be about serving existing communities and having sensitivity and understanding to people who live here"

    ditto africa

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