Savills sees better 2015 thanks to Berlin boost

(ShareCast News) - International real estate firm Savills said underlying full year results for the full year will be ahead of previous expectations boosted by its investment management business although it warned that global economic uncertainty and rising interest rates would result in a "tempering" of transaction volumes."The group experienced a strong finish to the year with the completion of some significant commercial transactions in several of our businesses around the world," Savills said."In the light of heightened uncertainty over global economic prospects and rising interest rates, we expect a tempering of the strong transaction volumes of recent times in certain markets, notwithstanding that market fundamentals remain sound. Accordingly we retain our original expectations for 2016." The company said its investment management division received a boost after completing the disposal of the Berlin-based "Potsdamer Platz" assets on behalf of the SEB ImmoInvest Fund on 31 December 2015 - earlier than expected."This transaction is part of the liquidation of a number of German Open Ended Funds managed by the former SEB Investment Management business, which was acquired on 31st August 2015. "Savills will report 2015 full year results on 10 March 2016.