68 | JEREMY KNIGHT
THE LAST WORD
www.opp.org.uk | JANUARY 2012
WORDS | Geoff Hadwick A change of direction
Jeremy Knight has worked in the international property business for more than 20 years and the company he founded, Knight Knox International, has been involved in virtually every aspect of the industry during that period. KKI is a long-established agency selling in more than 50 countries around the world and, in recent years, it has also become a developer … often specialising in student accommodation. How does Jeremy Knight see the future of the industry and what keeps driving him forward? Top people talk to OPP.
developed economies like the UK and the USA in the past few years. Cash- starved universities have basically been contracting out their accommodation needs, and fi rms like Knight Knox International have been moving in. But why did Knight Knox get involved in the fi rst place, and why did it move from being an agent into being a developer? What drove the company to change direction so dramatically? “Firstly, bad experiences with developers, especially in the UK, including poor build quality and awful
S
tudent housing has been one of the international property industry’s few bright spots for
customer service, and secondly, non- payment of commissions, on a very large scale,” says company founder Jeremy Knight.
“In truth,” he adds, being blunt, “for all these reasons - and more - we knew that we were able to do a better job for clients and also ensure that Knight Knox, and its agents, got paid, if we went into doing it all ourselves.” And so, as a result, Knight Knox decided to get “heavily involved in development both in the UK and overseas”, acting as an advisor and as a developer. “We carried out a number of smaller projects,” says Knight, and then carried on the “transition process to
take on larger projects … namely 300+ student apartments this coming year”. It is certainly an ambitious vision, but one that is based on very clear-headed thinking.
“Student accommodation is certainly a hot market at present and the model is very popular because of the high rental yields achieved,” Knight told OPP. “We are also in the process of sourcing new sites right now for standard apartments for the mortgage/leveraged buy-to-let market. 2012 should see a number of new site launches.”
But none of this means that the company will abandon its agency roots. “Knight Knox is arguably the largest
agent in its fi eld at present and so, no, we will certainly not stop being an agent. Indeed, our own development company will invest its profi ts to support the growth and success of Knight Knox moving forward. The transition (to being a developer) is a parallel move designed to run alongside Knight Knox, rather than any major change of direction.” It’s all about adding value he says. “And with a superb senior management team in place at Knight Knox now, I am personally able to spend a lot of time on the development side of the business.” This means, in part, looking into the future and trying to decide where the
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