Staff at Savills are to bag more than £60m in bonuses this year despite tough market conditions.

It is thought that top directors will still land bonuses of several hundred thousand pounds each.

The bonuses will be paid even though Savills is expected to announce goodwill write-downs of more than £30m on acquisitions made during the past few years, which will tip the group into the red and force it to trim its dividend payout to investors.

Sunday Times