Buy-to-let specialist celebrating record £15.5m revenue
A MANCHESTER-based provider of buy-to-let developments to the private investor market has reported a record turnover of £15.5m.
Knight Knox’s turnover for 2015-16 represents an increase of £2m from the previous financial year, which the company attributes to increased investor appetite in the run up to the stamp duty levy introduction in April and a resilient market post-Brexit.
The firm has also enjoyed strong expansion in terms of staff, now employing 65 people, with plans to add to this number before the end of the year.
Andy Phillips, commercial director at Knight Knox, said: “The sustained growth we’ve experienced in the face of potential threats to buy-to-let is outstanding and just goes to show the buoyancy of the market.
“We witnessed significant demand from investors in the months running up to April when the 3% stamp duty levy came into effect. However, they don’t seem to have been deterred by it, because, even with the political uncertainty surrounding Brexit, sales have been encouraging over the last six months.
“The private rented sector is taking off due to house price rises and we’ve been able to source investment opportunities that complement this, so we’re remaining very optimistic.”
Delivering both new-build residences and refurbishment projects, Knight Knox works in partnership with four developers – X1, Fortis Developments, Forshaw Land & Property Group and Crossbow Investments.
The company has launched more than 70 buy-to-let schemes throughout the UK to date, with a total development value of over £780m.
The sales success achieved has been boosted in part by the company’s introduction of investor seminars this year. Knight Knox has recently held sales events in Manchester, Liverpool and Hong Kong, and plans to organise a full calendar of further seminars throughout 2017.
Phillips added: “Our investor events have proven to be a huge hit both internationally and closer to home, and this is just one of the ways we’re investing significantly in our future to facilitate further growth.”