Record year for Knight Frank
Real estate consultancy Knight Frank, which has a Birmingham office, has reported a record pre-tax profit of £162 million and turnover of £443m for the year to the end of March.
Group profit before tax was up 19% and turnover by 13%.
Alistair Elliott, group chairman and senior partner, said: "I am pleased to report another
strong set of results for our latest financial year."
Ashley Hudson, who heads the Birmingham office, said: "Investor and occupier confidence has returned with gusto to the regional markets this year.
"The bounce-back has been particularly strong in Birmingham, and is evidenced in our bottom line and our growing Birmingham presence."
Birmingham had more active enquiries for Grade A offices than any other regional city and take-up to date has already breached 2014 levels.
"The Midlands has also dominated the industrial market during the first half of the year. As a result our offices and industrial teams have been super busy," he added
"What's most encouraging is that we are now seeing tower cranes appearing in the city. New developments, backed by investors debuting in the city, is a sure sign of confidence.
"The residential market has some catching up to do. But make no mistake their time is coming. High-end workers at the likes of Deutsche Bank, HSBC and HS2 all need good quality homes: there will be schemes coming forward in the next 12 months to address this demand," said Mr Hudson.
