JLL has repositioned its alternative capabilities with the creation of a dedicated team of specialists, officially classifying alternatives as a mainstream property asset class.
JLL director Ollie Saunders will lead the new alternatives division, a first in the UK market, which will work with 125 sector specialists.
The move is in response to a significant shift in the property market, where transactions related to alternatives have grown by 140% since 2010. They will continue to grow a further 65% until 2019, representing 30% of all commercial property transactions in the UK, where the market is currently worth £12bn.
Saunders said: “The market now views alternatives as the fifth asset class in real estate. There are significant flows of capital being allocated to this from both UK and international investors.”
