Knight Frank

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Knight Frank LLP
Type Limited liability partnership
Industry Estate agents
Founded 1896
Headquarters 55 Baker Street, London, UK
Key people Alistair Elliott, Senior Partner & Chairman
Products Residential and commercial property services
Employees 7,067 (2011)
Website www.knightfrank.com

Knight Frank LLP is a residential[1][2][3] and commercial property consultancy founded in London in 1896. Knight Frank together with its New York-based affiliate Newmark Grubb Knight Frank is one of the world's leading independent global property consultancies.[4][5][6][7]

Its global network encompasses 244 offices and more than 7,067 employees handle in excess of US$817 billion (£498 billion) worth of commercial, agricultural and residential real estate annually.[8]

History[edit]

Knight Frank & Rutley is an earlier name of the firm. Sir Howard George Frank, 1st Baronet was an estate agent recognised as the "head" of the real estate profession in the United Kingdom. He was head of the firms of Knight, Frank & Rutley of London and Walton & Lee of Edinburgh and was president of the Estate Agents' Institute from 1912 to 1914.

1897: The first recorded business property sale is achieved in November, when Knight Frank & Rutley sells a ‘cycle machinery and plant’ business in Battersea for £270 11s 6d.
1911: The Crystal Palace is sold to Lord Plymouth for £210,000.[9]
1914: Howard Frank, the senior partner, is knighted.
1915: Cecil Chubb buys Stonehenge through Knight Frank & Rutley for £6,600 as a present for his wife. She gives it to the nation three years later.
1921: The town of Reigate is sold by Knight Frank & Rutley for £203,840 – the first time the firm has disposed of an entire town.
1922: The firm handles the sale of Winston Churchill’s house and sells Chartwell to him.
1924: The Duke of Westminster sells Grosvenor House in Park Lane through Knight Frank & Rutley.
1927: The firm advises on the site assembly for the BBC’s world famous headquarters, Broadcasting House in London.
1937: Most of the town of Lytham St Annes in Lancashire is sold – including the celebrated golf course.
1974: Fountains Abbey, Yorkshire, dating back to 1132, is sold for £1 million.
1981: In New York, Douglas Elliman Knight Frank sells Pan-American World Airways Intercontinental Hotels Corporation to Grand Metropolitan for $500 million.
1996: On 1 January, ‘Rutley’ is dropped from the Knight Frank name as part of a plan to expand international market share.
2000: Knight Frank sells the Duke of York’s Headquarters in Chelsea, London, on behalf of the Ministry of Defence.
2005: The firm is appointed to advise on the development of the London Olympic Village for the 2012 Games.
2006: With effect from 1 January, Knight Frank establishes a global real estate partnership with leading New York-based real estate service firm Newmark Knight Frank, formerly Newmark.
2012: February, presents Battersea Power Station to the global property market.[10][11]

Global House Price Index[edit]

The Knight Frank Global House Price Index is compiled using official government statistical office or central bank data where possible.[12][13][14][15][16]

House Price Sentiment Index (HPSI)[edit]

The Knight Frank/Markit House Price Sentiment Index (HPSI) provides the earliest view of how the UK housing market is faring. The monthly survey gauges the sentiment of households across the country, and is a lead indicator of future house price movement.[17][18][19][20]

Country House Index[edit]

The Knight Frank Country House Index is a valuation based index, compiled quarterly from valuations prepared by professional valuers in every Knight Frank Country House office in the UK. The index is based on the valuation of a comprehensive basket of properties throughout all United Kingdom regions based on actual sales evidence.[21][22]

Prime Central London Index[edit]

The Knight Frank Prime Central London Index, established in 1976, is the longest running and most comprehensive index covering the prime central London residential marketplace. The index is based on a repeat valuation methodology that tracks capital values of prime central London residential property.[23][24]

The Wealth Report[edit]

The Wealth Report is an annual publication produced by Knight Frank. The Wealth Report looks at global prime property trends and wealth, and examines the prime and super-prime property markets.[25][26]

Key Financials[edit]

(Financial year ending 31 March 2012)[27][28]

  • Group turnover up 8% to £333.9m (2011: £308.4m)
  • Group profit before tax £95.9m (2011: £101.9m)
  • Strong balance sheet with minimal intangible assets – net cash balances £98.5m (2011: £91.7m)
  • Unutilised £30m revolving credit facility
  • Staff numbers up 4% to 7,067 globally

References[edit]

  1. ^ Pollock, Ian (2011-12-28). "BBC News - House prices: Will they fall or rise in 2012?". Bbc.co.uk. Retrieved 2013-02-02. 
  2. ^ Keates, Nancy (2011-09-16). "Luxury Real Estate: Europe for Sale - WSJ.com". Online.wsj.com. Retrieved 2013-02-02. 
  3. ^ "Knight Frank: Residential development land price growth slows (UK)". Europe-re.com. 2011-02-04. Retrieved 2013-02-02. 
  4. ^ "Knight Frank recruits leading Munich team to open second German office (DE)". Europe-re.com. Retrieved 2013-02-02. 
  5. ^ "BBC News - Vyrnwy estate around Lake Vyrnwy up for sale". Bbc.co.uk. 2010-07-05. Retrieved 2013-02-02. 
  6. ^ Cowie, Ian. "Knight Frank – Telegraph Blogs". Blogs.telegraph.co.uk. Retrieved 2013-02-02. 
  7. ^ Buck, Jonathan (2011-08-04). "High-End London Property Defies Gloom". Online.wsj.com. Retrieved 2013-02-02. 
  8. ^ "Deals Competition | Most active agent | EGi". Estatesgazette.com. Retrieved 2013-02-02. 
  9. ^ [1][dead link]
  10. ^ "Knight Frank". Search.knightfrank.com. Retrieved 2013-02-02. 
  11. ^ "BBC News - Battersea Power Station in London on sale". Bbc.co.uk. 2012-02-24. Retrieved 2013-02-02. 
  12. ^ http://resources.knightfrank.com/getnewsresource.ashx?id=78681084-ee8a-4d05-b627-8a715b25fa89&type=1
  13. ^ Cowie, Ian (2013-01-29). "Global house prices hit by credit crunch and eurozone crisis but the rich are OK – Telegraph Blogs". Blogs.telegraph.co.uk. Retrieved 2013-02-02. 
  14. ^ Powley, Tanya (2011-12-02). "Global house prices hit by eurozone crisis". FT.com. Retrieved 2013-02-02. 
  15. ^ Chow, Jason (2011-12-01). "Hong Kong Homes Get More Expensive, Faster - Scene Asia - WSJ". Blogs.wsj.com. Retrieved 2013-02-02. 
  16. ^ "Knight Frank releases predictions for housing-market in 2012 | Property Report | The trusted source for Real Estate news". Property Report. 2012-01-10. Retrieved 2013-02-02. 
  17. ^ "Knight Frank and Markit's House Price Sentiment Index (HPSI)". My Knight Frank. Retrieved 2013-02-02. 
  18. ^ Powley, Tanya (2011-10-21). "Gloom over prices on the home front". FT.com. Retrieved 2013-02-02. 
  19. ^ Steve Dinneen (2012-01-20). "Property News | City A.M". City A.M. Retrieved 2013-02-02. 
  20. ^ First name:    (2012-01-25). "UK House Prices Down in January". Ipinglobal.com. Retrieved 2013-02-02. 
  21. ^ Holly Kirkwood. "Country house prices fall year-on-year | News - Property News, News from the Countryside and Culture | Houses for sale, properties for sale". Country Life. Retrieved 2013-02-02. 
  22. ^ Warwick, Lucy (2011-07-08). "Wealthy buyers return to country house market". FT.com. Retrieved 2013-02-02. 
  23. ^ First name:    (2012-01-11). "Prime London Property Prices Up 40% Since March 2009". Ipinglobal.com. Retrieved 2013-02-02. 
  24. ^ Powley, Tanya (2011-10-26). "Property forecasts: 2012 and beyond". FT.com. Retrieved 2013-02-02. 
  25. ^ Frank, Robert (2011-04-06). "India’s Rich Are the Most Eager for Yachts and Jets - The Wealth Report - WSJ". Blogs.wsj.com. Retrieved 2013-02-02. 
  26. ^ Thomas, Daniel (2010-03-23). "Tax fears drive wealthy away from London". FT.com. Retrieved 2013-02-02. 
  27. ^ "Knight Frank expands global reach after strong financial performance". Knightfrank.co.uk. Retrieved 2013-02-02. 
  28. ^ "Knight Frank sees foreign surge into UK property". Telegraph. Retrieved 2013-02-02. 

External links[edit]