Knight Frank Australia performing "exceptionally well"
Knight Frank, the global property consultancy headquartered in London, announced its financial results for the year ending 31 March 2015, reporting a record $276m profit and $754m turnover.
Alistair Elliott, group chairman and senior partner, Knight Frank, said Knight Frank had achieved a 19% increase in profit.
"Our growing presence in prime locations across London and our enhanced coverage of New York, Miami, LA and Sydney has helped to cement our offering to clients looking for access to the world’s leading employment centres," he said.
“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 Asia Pacific, where many countries have been affected by China’s slowing economic growth and the imposition of property cooling measures, Knight Frank India and Knight Frank Australia have both performed exceptionally and increased their profiles significantly."
“In Europe, fortunes are varied," he noted.
He listed key assignments of global relevance:
Dublin, Irish Life – We acquired 26,500 sq m retail investment portfolio on behalf of Irish Life for in excess of €150,000,000. The portfolio which produces a rent of €7.4 million, includes properties on Grafton Street, Henry Street and Dawson Street with tenants including McDonald’s, Waterstones, Clarks and Brown Thomas.
London, Southbank Place – We have been advising on multiple aspects of the strategically important redevelopment of the Shell Centre. The development includes 868 homes, 530,000 sq. ft of office space and 48,000 sq. ft of shops, restaurants and cafés and is expected to be completed by 2019.
Dubai, Jebel Ali Freezone – Dubai – We valued the World’s largest Freezone, Jebel Ali FreeZone, with a valuation totalling US$4.5bn.
Singapore, Straits Trading Building - Sold off market to Sun Venture for US$332m. This translates to US$2,086 per sq ft, the highest US$ per sq ft achieved since 2008.
London, French Embassy – We are currently working with the French Government on the acquisition of a new, fit-for-purpose Embassy building and the disposal of their existing facilities located in Kensington and Knightsbridge.
UK, The Ardent Portfolio – We are currently marketing the Ardent Portfolio, on behalf of The International Mutual Fund, which comprises a collection of 25 student accommodation properties located across 12 UK university cities. The portfolio provides accommodation for 5,507 students and is being sold off an asking price of offers in excess of £400m.
Brisbane, Sydney, Australia – Knight Frank sold one of the city’s most prominent and high-profile office and retail towers, 215 Adelaide Street, for AUD224 million on behalf of Pramerica Real Estate Investors to Australian investment management company Challenger Life.
UK, Meridian Healthcare - Knight Frank’s Healthcare team sold a portfolio consisting of 30 care homes on behalf of Meridian Healthcare Ltd to Formation Capital and HCPI, for in excess of £100million.
London, 10 Park Drive - Having been involved in the consultancy for the scheme for the past four years, Knight Frank’s residential development team, working alongside Canary Wharf Group, launched 10 Park Drive, the first phase of Canary Wharf’s new residential offering on its 128 acre private estate. Upon completion, the development will comprise 3,200 new homes, shops, restaurants, parks and a school.