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Knight Frank

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Knight Frank LLP
Company typePrivate
IndustryEstate agents
Founded1896; 128 years ago (1896)
as Knight, Frank & Rutley
FounderJohn Knight
Howard Frank
William Rutley
Headquarters55 Baker Street, London, England
Key people
William Beardmore-Gray (senior partner & chairman)
ProductsResidential and commercial property services
Number of employees
+14,000 (2018)
Websitewww.knightfrank.com

Knight Frank LLP is a global real estate consultancy and estate agency headquartered in London, England.

Knight Frank's global network has more than 488 offices across 57 territories and more than 20,000 people managing commercial, agricultural and residential real estate worth more than US$817 billion (£498 billion).[1]

History

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Knight, Frank & Rutley is an earlier name of the firm. Howard Frank was an English estate agent, headed 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.

1896: The firm is founded in London by John Knight, Howard Frank and William Rutley.[2] 1897: The first recorded business property sale occurs 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.[3]
1914: Howard Frank, the senior partner, is knighted.
1915: Cecil Chubb buys Stonehenge through Knight, Frank & Rutley for £6,600. Mr. & Mrs. Chubb gave it "to the Nation" three years later.
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 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.[4]
2005: The firm is appointed to advise on the development of the London Olympic Village for the 2012 Summer Olympics.
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.[5][6]
2013: Participated in the founding of OnTheMarket[7]
2015: Knight Frank wins the instruction to sell 231 prime residential units within the Royal Atlantis on the Palm Jumeirah, Dubai.[8] 2021: Rennie Property joined Knight Frank’s global network.[9]

Indexes and reports

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Global House Price Index

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The Knight Frank Global House Price Index is compiled using official government statistical office or central bank data where possible.[10][11][12][13][14]

House Price Sentiment Index (HPSI)

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The Knight Frank/Markit House Price Sentiment Index (HPSI) provides information on the UK housing market. The monthly survey gauges the sentiment of households across the country, and is an indicator of future house price movement.[15][16][17]

Country House Index

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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.[18][19]

Prime Central London Index

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The Knight Frank Prime Central London Index, established in 1976, covers 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.[20]

The Wealth Report

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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.[21][22] The Wealth Report focuses heavily on the investment activity of global single and multi family offices. In their latest report of 2018, the Knight Frank Wealth Report expounded on the increase in family office real estate activity, citing both WeWork and the FINTRX Family Office Platform. The report stated that 57% of North American family offices had real estate exposure, while 48% of European family offices were currently allocated to the real estate sector.[23]

References

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  1. ^ "Deals Competition | Most active agent | EGi". Estates Gazette. Retrieved 2013-02-02.
  2. ^ "Our History". Knight Frank. Retrieved 21 May 2024.
  3. ^ [1] Archived April 10, 2011, at the Wayback Machine
  4. ^ "Prices in central London set to rocket, says Knight Frank". estateagenttoday.co.uk. Retrieved 2015-11-09.
  5. ^ "Knight Frank". Search.knightfrank.com. Archived from the original on 2012-11-23. Retrieved 2013-02-02.
  6. ^ "Battersea Power Station in London on sale". BBC News. 2012-02-24. Retrieved 2013-02-02.
  7. ^ White, Anna (22 November 2014). "Estate agent wars could make it harder to sell your home". The Daily Telegraph. Retrieved 29 November 2015.
  8. ^ "The Royal Atlantis Resort & Residences will open with a record-breaking 90 swimming pools". DOTWNews. Retrieved 2020-02-28.
  9. ^ "More about Rennie Property". www.rennieproperty.co.za. Retrieved 2023-05-10.
  10. ^ "Archived copy". Archived from the original on 2010-08-28. Retrieved 2012-01-28.{{cite web}}: CS1 maint: archived copy as title (link)
  11. ^ 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. Archived from the original on 2011-12-04. Retrieved 2013-02-02.
  12. ^ Powley, Tanya (2011-12-02). "Global house prices hit by eurozone crisis". Financial Times. Retrieved 2013-02-02.
  13. ^ Chow, Jason (2011-12-01). "Hong Kong Homes Get More Expensive, Faster - Scene Asia - WSJ". Blogs.wsj.com. Retrieved 2013-02-02.
  14. ^ "Knight Frank releases predictions for housing-market in 2012 | Property Report | The trusted source for Real Estate news". Property Report. 2012-01-10. Archived from the original on 2012-09-08. Retrieved 2013-02-02.
  15. ^ "Knight Frank and Markit's House Price Sentiment Index (HPSI)". My Knight Frank. Archived from the original on 2012-02-18. Retrieved 2013-02-02.
  16. ^ Powley, Tanya (2011-10-21). "Gloom over prices on the home front". Financial Times. Retrieved 2013-02-02.
  17. ^ Steve Dinneen (2012-01-20). "Property News". City AM. Retrieved 2013-02-02.
  18. ^ 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.
  19. ^ Warwick, Lucy (2011-07-08). "Wealthy buyers return to country house market". Financial Times. Retrieved 2013-02-02.
  20. ^ Powley, Tanya (2011-10-26). "Property forecasts: 2012 and beyond". Financial Times. Retrieved 2013-02-02.
  21. ^ 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.
  22. ^ Thomas, Daniel (2010-03-23). "Tax fears drive wealthy away from London". Financial Times. Retrieved 2013-02-02.
  23. ^ "The evolving investment strategies of family office". www.knightfrank.com. Retrieved 2018-10-22.
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