The 70 equity partners who own Knight Frank are poised to enjoy a bumper crop of annual profits after the agency shook off the downturn in premium homes to post a record year.
The £166.7m of annual pre-tax profits reported by the high-end estate agency and property consultancy equated to £2.38m per partner.
This is well ahead of the vast majority of the UK’s top 100 law partnerships and only slightly below the £2.5m per partner clocked up by the magic circle practice Slaughter and May. It also dwarfs profits per partner of the Big Four accountancy firms, PWC, KPMG, EY and Deloitte, which last year all came in below £1m.
The Telegraph reports that Alistair Elliott, who chairs the partnership, has “hit out” at plans to charge higher stamp duty on overseas purchases of UK homes, warning the move will hammer the property market.
Click here for the full Times article (£)
Click here for the full Telegraph article (£)
