The Australian management team of Gleeds Australia has recently bought the project management and quantity surveying firm from its UK parent for an undisclosed sum. The company has been re-branded Lucrum Consulting, derived from Latin and representing both profit and advantage, effective from November 1, 2009.

Lucrum Consulting has three offices in Australia with a headquarters in North Sydney and offices in Brisbane and Melbourne. The management team will remain the same with David Kelly as managing director and Andrew Lowther remaining in charge of the Brisbane office and also promoted to director.

With a current project portfolio of approximately $2 billion across the residential, commercial, leisure, health and government sectors, Lucrum Consulting has an active stable of clients in Australia, China and Vietnam. “It is business as usual and is simply a change of name. All staff will remain in their current roles and our pipeline of projects remains the same,” said David Kelly, managing director of Lucrum Consulting.

The group’s major projects include Fisherman’s Wharf at The Entrance, an innovative commercial building with a dining and retail precinct and the redevelopment and expansion of The Royal North Shore Hospital at St Leonards on behalf of the NSW Department of Health.

Lucrum Consulting offers a broad range of services including cost management, cost engineering, project management, development management and Public Private Partnerships (PPPs). Gleeds launched into the Australian market opening a Sydney office in 2005.