Sheffield office boosts Knight Frank’s record year

Property consultancy Knight Frank has had a record year, reporting pretax profits of £162m.

The firm, which has an office in Sheffield, also reported £443m turnover for the year to 31 March 2015.

Knight Frank’s commercial property offices in Sheffield and Leeds had their most successful year ever.

The Sheffield office agency team was involved in 68.6 per cent of office deals by floor area in the city and was appointed to market the 80,000 sq ft 3 St Paul’s Place – the only grade A office building the city.

Other key transactions included 80,000 sq ft at Milton House, the largest office sale in Sheffield of 2014; 40,000 sq ft at North Bank in Blonk Street to XLN and Instant Offices and 21,000 sq ft at The Straddle at Victoria Keys let to Servelec.

Key industrial acquisitions and transactions in the year included a lease regear for 100,000 sq ft for ROM in Sheffield; the 110,000 sq ft letting of Manton 110 in Worksop; 60,000 sq ft to Approved Food in Sheffield and 60,000 sq ft to Symphony in South Yorkshire.

Alistair Elliott, group chairman and senior partner of Knight Frank said: “I am pleased to report another strong set of results for our latest financial year.

“We have achieved a 19% increase in profit, whilst continuing to invest significantly in recruitment and expanding our global platform.

“Our priority for the year ahead is to continue to develop our key services in the principal cities of the world.

“The benefits of a balanced business are, I believe, being delivered. At a time when activity in commercial occupier markets is increasing in many cities around the world, we see the return of rental growth drawing more investor interest.

“The specialist property sectors (including hotels, student property, healthcare, residential capital markets and automotive) are becoming a more central part of investors’ portfolios and solid returns over turbulent periods have increased their appeal.

“In the UK, commercial real estate activity has increased and there is now significant life in the sector. Our 10 commercial offices across the UK have had their best year ever.

“The residential market is more mixed, with the prime sector still absorbing the changes to stamp duty made last December, especially in central London.

“That said, the market continues to be underpinned by a combination of undersupply of housing, the improving economy and the low interest rate environment.”

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