Lambeth Council has approved ZHL’s design for Vauxhall Cross Island scheme in London (Render by Slashcube/From Zaha Hadid Architects)

Zaha Hadid Architects pays director £5.3m, warns of Brexit risk

11 February 2019 | By GCR Staff 2 Comments

London-headquartered international architecture firm Zaha Hadid Limited (ZHL) paid one of its seven directors just over £5.3m last year, according to accounts filed last week for the year to April 2018.

Its report showed a slight dip in turnover to £43.48m from £44.06m in 2017, but a modest hike in profit, to £4.78m from £4.46m the previous year.

In an accompanying note on “principal risks and uncertainties”, ZHL listed first Brexit uncertainties affecting its ability to recruit talent.

“Our business’ success depends on us being able to recruit and retain sufficient architects and associated professionals with the highest level of design skills and experience,” wrote director Patrik Schumacher.

He added: “There is considerable uncertainty on the post-Brexit visa arrangement for skilled persons moving to and working in the UK. We are monitoring developments in this area and its possible impact on our UK recruitment.”

Schumacher also noted: “Competition in the UK for architectural contracts is currently very challenging, but our global customer spread has mitigated the effect of this on our business.”

In terms of where ZHL derives its revenue, the UK is only ZHL’s fifth largest market, generating £2.86m in turnover in the reported year.

That was some way behind Europe (£14.39m), Asia (£11.48m), and the Middle East (£8.44m) for the period, in which ZHL also generated £3.08m in Australia.

Project wins saw ZHL increase its staff to 363, up from 348 in 2017.

The year also saw a big pay out of £5.3m to an unnamed director in the 2018 financial year, comprising that director’s remuneration plus just over £4.49m in “accrued remuneration” that had been charged in previous statements but not yet drawn.

Among ZHL’s UK projects is Vauxhall Cross Island (pictured), a two-tower mixed-used scheme at Vauxhall, London, for which Lambeth Council has given consent.

Image: Lambeth Council has approved ZHL’s design for Vauxhall Cross Island scheme in London (Render by Slashcube/From Zaha Hadid Architects)