Global property consultancy Knight Frank has announced that Rory Penn will succeed William Beardmore-Gray as Senior Partner and Group Chair following a formal election process, with the transition set to take effect in April 2027. To ensure a smooth handover, Penn will join Knight Frank’s Group Executive Board in April 2026, beginning a structured year-long transition period. Currently Head of London Residential Sales, Chair of the Global Private Office and a member of the UK Board, Penn will use this period to deepen his engagement with the firm’s global operations and long-term strategic priorities. Penn joined Knight Frank in 2018 following the acquisition of VanHan, the business he co-founded with Thomas van Straubenzee. Since then, he has played a central role in driving growth across the firm’s Global Private Office and London Residential Sales divisions. His career includes a decade on the client side, beginning at Grosvenor, followed by senior roles at private equity real estate firms Rowan and Palmer Capital. He brings extensive experience across commercial and residential real estate in the UK and internationally, working with private capital, private equity and institutional clients. William Beardmore-Gray will retire from the partnership in March 2027 after 36 years with Knight Frank. Having joined the firm in 1991, he built a distinguished career advising investors, developers and occupiers in London and across Knight Frank’s global network. He was appointed Head of the Occupier Strategy and Solutions Global Service Line in 2013 and became Senior Partner and Group Chair in 2022. Commenting on the appointment, Beardmore-Gray said Penn is an exceptional successor with a strong background as both a commercial property investor and one of London’s most respected residential advisers. He noted that under Penn’s leadership of the Global Private Office, the firm has strengthened its relationships with ultra-high-net-worth individuals and family offices worldwide. Beardmore-Gray added that while he will step down in 2027, his focus over the coming months remains on delivering strong performance for the global partnership. Penn said his election as the next Senior Partner is a tremendous honour and emphasised his commitment to Knight Frank’s clients, brand and people. He highlighted the firm’s strong momentum under Beardmore-Gray’s leadership and said he looks forward to working closely with him to ensure a seamless transition, while continuing to build long-term client relationships across Knight Frank’s global network.