JLL strengthens UK retail with acquisition of KLM Real Estate

• JLL has acquired KLM Real Estate, a London-based boutique retail property advisory firm, bringing 17 KLM colleagues into JLL's UK Leasing Advisory business under Paul Marshall, Head of UK Retail.
• The deal adds KLM's specialist UK retail agency and leasing expertise and client relationships to JLL's platform, enabling integrated services across leasing advisory, investment transactions, and strategic consulting with minimal client overlap.
• The acquisition supports JLL's growth strategy and strengthens its London and UK retail market position, timed against resilient UK consumer spending and sustained demand for bricks-and-mortar retail space.

LONDON, 29 October 2026 – JLL today announced the acquisition of KLM Real Estate (KLM), a London-based boutique retail property advisory firm. The acquisition will significantly enhance JLL's retail capabilities in the UK market and forms part of the company's strategic focus on growing key asset classes.

The acquisition will see 17 KLM colleagues join JLL; KLM is an established specialist in UK retail agency and lease advisory with mandates that span London and the regional markets. The firm's client portfolio includes The Crown Estate, the South Kensington Estate and Pret a Manger, which will complement JLL's strong existing client relationships and create new opportunities to deliver JLL's broader service capabilities across the UK's retail market.

The combined retail team will provide comprehensive services spanning leasing advisory, investment transactions, and strategic consulting, offering clients integrated solutions across JLL's broader service lines.

JLL is making this addition to its retail offering as consumer spending continues to exceed expectations despite economic pressures. JLL cited that consumer confidence is being driven primarily by reduced household savings rates buffering against weak income growth; and despite some headwinds, it anticipates the UK consumer may prove remarkably resilient through Q4 and beyond which will continue to translate into a requirement for bricks and mortar retail.

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."