Home » News » Agencies & People » Knight Frank hails ‘one of most extraordinary years in 125-year history’
Agencies & People

Knight Frank hails ‘one of most extraordinary years in 125-year history’

Retiring chairman makes comment accompanying latest results for firm, which include selling a £55m townhouse in central London.

Nigel Lewis

knight frank

Speedy post-lockdown residential sales and cost-cutting helped push profits at Knight Frank to record levels, up 23% to £173.7 million.

Its full-year figures ending 31st March showed particularly good results for its country business, on turnover down 7% to £512.7 million, largely due to a “reduction in transactional activity across capital markets and office agency showing a far stronger position than its budgets,” according to Alistair Elliott (pictured), senior partner and group chairman, who labelled it, “one of the most extraordinary years in our 125-year history”.

proptech alistair elliott kfHe explains: “As a group we reduced our marketing spend, our people travelled less and our staff costs lowered – all factors that have positively impacted the firm’s profitability. The firm’s agility and speed of reaction to the pandemic has enabled us to outperform our early financial expectations.”

Elliott points to some huge deals signed in the last 12 months, including the sale of a townhouse on Whistler Square, Chelsea Barracks, with an asking price of £55 million and let of a townhouse near London’s Kensington Gardens for £15,000 per week.

Knight Frank has pledged to continue its focus on retaining and attracting the best people, and to drive better balance; in its 2021 cohort it had 44% female, 56% male and 36% BAME interns, which exceeds the firm’s targets. In 2022 it is aiming for gender parity.

Key hires

Key hires during the period include former head of rural at Strutt & Parker/BNP, James Farrell, as a proprietary partner. Working together with Tom Richardson, formally deputy senior partner at Strutt & Parker/BNP, who joined as a consultant, they will help shape its rural offering.

Elliott is retiring in March 2022 after 38 years with the firm, when William Beardmore-Gray, currently Knight Frank’s head of London commercial and global occupier businesses, will take over as senior partner and group chairman.

In the last 12 months, the company has opened new offices in Sofia, Athens and Belgrade and announced new partnerships in Cape Town, Lyon and North America.

November 1, 2021

What's your opinion?

Please note: This is a site for professional discussion. Comments will carry your full name and company.

This site uses Akismet to reduce spam. Learn how your comment data is processed.