Knight Frank

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Knight Frank LLP
Limited liability partnership
Industry Estate agents
Founded 1896; 128 years ago (1896)
as Knight, Frank & Rutley
Founder John Knight
Howard Frank
William Rutley
Headquarters 55 Baker Street, London, England
Key people
 Alistair Elliott, Senior Partner & Chairman
Products Residential and commercial property services
Number of employees
 +12,000 (2013)
Website www.knightfrank.com

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

Its global network encompasses 370 offices in 55 countries and more than 12,000 employees handle in excess of US$817 billion (£498 billion) worth of commercial, agricultural and residential real estate annually.[8]

History

Knight Frank & Rutley is an earlier name of the firm. Sir Howard George Frank, 1st Baronet was a UK estate agent, 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 Alice. Mr & Mrs Chubb gave 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.
[10] 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.[11][12] 2013: Participated in the founding of OnTheMarket[13]

Global House Price Index

The Knight Frank Global House Price Index is compiled using official government statistical office or central bank data where possible.[14][15][16][17][18]

House Price Sentiment Index (HPSI)

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.[19][20][21][22]

Country House Index

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.[23][24]

Prime Central London Index

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.[25][26]

The Wealth Report

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.[27][28]

Key Financials

(Financial year ending 31 March 2012)[29][30]

  • 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

See also

References

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  9. ↑ [1] Archived April 10, 2011 at the Wayback Machine
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  14. ↑ http://resources.knightfrank.com/getnewsresource.ashx?id=78681084-ee8a-4d05-b627-8a715b25fa89&type=1
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External links

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