153 The Baylis Family
£119m
JT Baylis
JT Baylis seems to be enjoying success at its co-owned The Mall at Cribbs Causeway. The 1m sq ft centre was 100% let last Christmas; as of March this year it had declined slightly and had two void units, representing 0.3% floor space.
The late Jack Baylis started after the second world war as a builder in Bristol, using his army gratuity to repair bomb-damaged buildings. In the 1960s, he bought up the land on which the Cribbs Causeway mall is now built. Backed by the Pru, the centre was opened in 1998.
His family company, JT Baylis & Co, made £3m profit on £11.4m sales in 2010-11, with net assets rising £4m to £119m. Baylis died in 2005 and left £96.2m in his will. We value the Baylis family on the net assets.
154 Heinrich Feldman & family
£118m
Inremco 26
A low-key London property man, Feldman’s main holding company, Inremco 26, made £3m profit on nearly £17m sales in 2010-11 when its net assets rose to £110.9m. We can also see Feldman stakes in a host of smaller property companies, and Feldman himself has more than 120 directorships to his name. He should easily be worth £118m.
Even aged 76, Feldman is still very active, adding directorships to his portfolio on an almost monthly basis.
155= Anthony Khalastchi & family
£115m
Flodrive Holdings
Flodrive Holdings reported a 42% drop in turnover to £32m in the year ending 30 April 2011.This came after making a loss on £9.3m of property disposals.
Khalastchi is well known in London auction rooms. He made auction history in May 2003 when he bid £8.55m for an industrial ground rent in Bristol, the biggest lot ever to have been sold under the hammer.
His two main property groups, Flodrive and Strandpark Properties, showed £100m net assets in their 2010-11 accounts. We value the businesses on the net assets. We add another £15m for other Khalastchi investments.
155= Jeff Smith
£115m
Proudreed
The 11th richest man in Hampshire, Smith chairs AIM, a Hampshire aviation company making cabins for aircraft and trains with £72m net assets in 2011. Smith’s stake is worth £35m.
Smith, a keen racehorse owner, serves as treasurer of the Injured Jockeys Fund and is a member of the Jockey Club. He has bred horses for racing from his Littleton Stud in Hampshire since 1984.
Smith also jointly owns the Proudreed property company with Caspar Macdonald-Hall. It had £151.5m net assets in 2011, valuing Smith’s stake at more than £75m. Other assets take him to £115m after tax.
157 Jonathan Hitchins & family
£112m
The Robert Hitchins Group
The Robert Hitchins Group is involved in the proposal for a food store in Quedgeley, Gloucestershire. Asda is the preferred partner for the scheme, which would create 230 local jobs on the 4.5-acre site near the A38.
The Cheltenham-based developer made £2.8m profit on £8.6m sales in 2010-11. It is worth its near £87m net assets.
The company was started more than 45 years ago by the late Robert Hitchins, who bought up large tracts of Gloucestershire cheaply after the war. It is now run by his sons, led by chairman Jonathan Hitchins. We add another £25m for other assets.
158 Eric Grove
£110m
Catesby Property Group
Catesby Property Group sold a 92-apartment student block in the heart of Vauxhall last year for £5.5m to the Mansion Group. It had been owned by auctioneer Christie’s for more than 30 years.
Grove’s Catesby has become a specialist in developing brownfield sites and has established an £80m joint venture with Bank of Scotland to tackle brownfield sites in London and the South East. It is co-developing Firstpoint, a £200m business and retail park near the M18 in Doncaster.
Catesby had around £13.1m net assets in 2010-11. Grove started Canberra, a Midlands housebuilder, in 1968 and sold it 20 years later for £40m. He moved into property, and with a range of assets, including a stake in a property investment company, he is worth £110m.
159 Simon Karimzadeh & family
£107m
Eskar International
More than 40 years ago, Karimzadeh’s late father started Eskar International, a London-based property trading-to-processing group. Its activities spanned leather tanneries in the Middle and Far East, dried fruit and nut processing plants, as well as trade in iron and steel in the 1970s and 1980s. Since then it has focused on property.
In 2004, Simon was “robbed” of a deal when he was denied ownership of the historic Grade I listed Apethorpe Hall in Northamptonshire after putting in an offer for £3.1m.
The Karimzadeh family owns all of Eskar, which showed £285.8m net assets in 2011. Cautiously, we still value Eskar at £100m, adding £7m for other assets.
160= Frank Burke & family
£105m
The BDL Group
Cabretta Holdings, a London-based construction company, made £459,000 profit on £50.6m sales in 2011 – not much, you may think – but it does have £10.6m of net assets and is the parent of the BDL Group, run by Irishman Frank Burke.
His family also owns Farmglade, a property company with around £23.1m net assets in 2011. We value Burke at £105m.
160= Bill Gredley & family
£105m
Unex Corporation
Gredley’s Newmarket-based Unex Group is targeting Cambridge and Stratford, east London, for future opportunities.
In April, Unex Group sold the site for Station House in Stratford for £3m, which has consent for a 26-storey tower with 220 flats. Unex made a £5.6m profit on £9.1m sales in 2010-11. The Suffolk-based company is worth its £101m net assets.
Gredley, a keen follower of the turf, is best known for his horse User Friendly, which won both the Oaks and the St Leger. His racing interests and other assets take Gredley and his family to £105m after tax.
160= Sir George Meyrick
£105m
Meyrick Estate Management
Meyrick, reportedly a “real” friend of the Duke and Duchess of Cambridge, is a leading landowner in the South West and Wales. He also has large tracts of land in the Bournemouth area. The family also owns the Bodorgan estate in Anglesey, which runs to 17,000 acres.
Meyrick keeps a low profile, although he is well known in the racing world as a successful owner of horseflesh. One of his best horses was the American-bred colt, Green Perfume, which he co-owned.
We can see five companies, including Meyrick Estate Management and Bodorgan Properties, with £2.2m net assets between them. Our sources reckon that the total Meyrick holdings could be worth as much as £250m, but we are not so sure. However, with asset and farmland prices rising strongly, we raise the Meyrick family to a still conservative £105m.
163 Wing Yip & family
£102m
W Wing Yip & Brothers Property & Investments
Wing Yip’s W Wing Yip operation bought the 36,000 sq ft Oxgate Works, in Hendon, NW2, from Nick Capstick-Dale’s UK Real Estate in April 2012 for £3m.
W Wing Yip already owns a number of other properties in the area. Wing Yip runs the W Wing Yip & Brothers Trading cash-and-carry operation, supplying 2,000 Chinese restaurants.
The Birmingham-based operation made £6.9m profit on £101.4m sales, but it had £40.7m net assets in 2011. The family also owns W Wing Yip & Brothers Property & Investments, with £23.2m net assets. The two should be worth £92m. Other assets add £10m.
164= John Brooksbank
£100m
Blackshaw Holdings
Leaving school at 16, Brooksbank went to work for a clothing wholesaler. At 20, he was a successful market trader and shop owner.
He sold up and entered the waste business, where he is now one of the leading entrepreneurs in Yorkshire.
His property portfolio consists of residential property, retail commercial and industrial property, hotels, pubs, caravan parks, marinas, farms and a golf course.
Brooksbank’s Blackshaw Holdings and smaller companies such as ADW Properties showed £37m net assets in 2011. Property assets take Brooksbank to £100m.
164= David Kirch
£100m
Channel Hotels & Properties
A shrewd Jersey-based property investor, David Kirch has a nose for undervalued assets. In 2004, he took over Property Acquisition & Management, with a £200m portfolio by way of a £69.5m deal.
Kirch made his fortune in London residential property during the 1960s, disposing of his last properties for £30m in 1988. He now runs Channel Hotels & Properties and has around £3.7m of net assets in the 2010 accounts of four small companies.
Channel Hotels & Properties did have £85m of net assets, but we have not seen recent accounts and Kirch was hit hard by the 2008-09 downturn.
Even his generosity to the local pensioners is feeling the pinch – at Christmas he gives £100 vouchers to all of the 8,000 Jersey residents over the age of 70 – but last year Kirch admitted he had to borrow the money to fund the philanthropic works. Therefore, we clip him back to £100m.
164= Jack Morris & family
£100m
Business Design Centre
Morris’ Business Design Centre has linked with United House Group in a £130m regeneration scheme based in Finsbury Park, north London. Together they will create 116,000 sq ft of retail, leisure and office space, and 308 new homes at the City North Islington trading estate.
The parent company for the Business Design Centre in London’s fashionable Islington made £5.5m profit on £13.6m sales in 2010-11. It is worth its £81.2m net assets.
The Morris family also owned the Earls Court and Olympia exhibition centres, which they sold in 2004, making around £25m from the sale after debt had been stripped out. In all, the wider Morris family, led by Jack Morris, should be worth £100m.
164= The Duke of Roxburghe
£100m
Sunlaws Development Company
A four-year campaign to prevent 48 wind turbines being built in the Scottish borders was defeated in late 2010, much to the delight of Roxburghe. The land for the turbines forms part of his 65,500 estate.
The duke is investing £3m in the project, which one paper claimed would make him £14m over 25 years.
Roxburghe’s entrepreneurial activity has also led him into housing development, a new golf course and plans to turn his Roxburghe hotel into a five-star resort.
Roxburghe, the 10th Duke, inherited the land and Floors Castle in 1974. He owns Sunlaws Development Company with £621,000 net assets in 2010-11.
With the wind farm decision and rising land prices, we value Roxburghe at around £100m.
168 Andrew Rosenfeld
£99m
Air Capital and ex-Minerva
Andrew Rosenfeld, the former chief executive of the Minerva property group, has moved back to London from Switzerland and was recently reported to have bought an £8.5m home.
With co-founder, Sir David Garrard, Rosenfeld floated Minerva on the stock market in 1996. He later claimed he had £100m of his own money to invest when he first moved to Switzerland in 2006, having sold “all his and his family’s UK interests”.
Rosenfeld donated £1m to the Labour Party in 2010. He now runs his Air Capital property investment operation. We keep him at £99m.
169= Edelin Davis & family
£97m
Broadthorpe
Broadthorpe, the holding company for William Davis, the Loughborough building contractor, made a £3.3m profit on £80.6m sales in 2010-11.
The business, founded in 1935, has been involved in a number of commercial and public sector projects in the Midlands recently. It also developed the £13m Loughborough courthouse.
Another of the company’s projects, the redevelopment of a former hosiery factory in Leicester into the Fabric apartment complex, has won plaudits and a regeneration award.
Broadthorpe’s boss, Edelin Davis, has only a small stake, but 98% of the shares are held in a family trust.
It is worth its £94m net assets. Other assets add £3m.
169= Sir John Mactaggart & family
£97m
Mactaggart Heritable Holdings
Mactaggart Heritable, the Glasgow-based property group, saw its net assets rise by nearly £2m to £89.3m in 2011. It produced a £3.3m profit in the same year.
The company, which trades as the Western Heritable Investment Company, traces its roots back to Sir John Mactaggart’s great-grandfather, also Sir John, who started building tenements in Springburn, Glasgow, in 1898.
Over the next few years he built more than 2,000 homes for the middle-classes in the south and west of the city. The first Sir John was an active Labour man and treasurer of the first branch of the Labour party under Kier Hardy. The company now owns a string of high-priced commercial properties mostly in London and Manhattan.
It is worth its net assets, and we add £10m for past dividends to MacTaggart and his family.
171 Mathias & Miriam Kraus
£96m
Pall Mall Investments (London)
Mathias and Miriam Kraus own Pall Mall Investments (London) a north London-based property group, which made a £1.5m profit on £12m sales in 2010-2011. We value the very low-profile Kraus family on the business’s £94m net assets, and add £2m for other assets.
172= Sir David Garrard
£95m
ex-Minerva
After leaving school at 15, Sir David Garrard went straight into property. In 1955 he joined an estate agency and never looked back. He rose to prominence in the late 1980s at a company called Land Investors, which was sold for £180m in 1988.
With Andrew Rosenfeld, he launched the Minerva property group which floated on the stock market in 1996.
Garrard left the business in 2005 and his family trusts sold £37m worth of shares at the time. He does not have any shares left in the business now.
Other assets should take the Garrard family to £95m in the current climate.
172= John Muir & family
£95m
Muir Group
Muir Group, the Inverkeithing-based property-to-housebuilding group, turned in a £1.1m loss on £58.5m sales in 2011-12.
John Muir appears keen to use the Muir Group for the good of the community rather than simply as a cash-generating machine. The Muir group runs a sheltered housing scheme in Bury and has backed the building of a community garden in Winsford; it also runs a charity called Friends Of Muir Group, among other things.
A former joiner and teacher, Muir established the business in 1973. It should be worth its near its £65m net assets.
We add another £14m for the net assets of the separate family company, Muir Holdings, and £16m for past salaries/dividends taken by the Muir family.
172= Simon Clarke & family
£95m
St Modwen
Birmingham-based St Modwen is busy in the south west at present. It is developing Exeter’s Skypark and Taunton’s £270m Firepool redevelopment. But in the half year to May 2012, its profits fell slightly to £34.9m compared with £37.9m in the first six months of 2011.
St Modwen was founded by the late Sir Stan Clarke, who died in 2004 leaving £138.9m in his will. A plumber by trade, Clarke first started a construction business with £125 of savings, selling it for £51m in 1987, but keeping the property arm, which became St Modwen.
Simon Clarke, his son, sits on the St Modwen board as a non-executive director. The family owns 30.5m shares, which are now worth £61m
The Clarke family also owned a stake in Northern Racing operation, which they sold for £65.9m in 2007. Other assets take the family to at least £95m after tax.
175= Danny Desmond
£92m
Bride Hall
In June this year, Bride Hall submitted supermarket-led redevelopment plans in Hillingdon, Greater London, in partnership with Morrisons. The proposal includes plans for a 40,000 sq ft Morrisons supermarket, 100 new homes, an 82-bedroom hotel and more.
Bride Hall is also working on a multi-million pounds plan to create a new restaurant quarter in historic Chester, in partnership with the Carlyle Group.
Desmond started Bride Hall in 1984, and sold 50% of the company to Great Portland Estates for £10m in 1987. He bought that stake back in 1992 at a much lower price.
Bride Hall Holdings and other Desmond companies had more than £15m net assets in 2011. Including other investments and past profits, we still value Desmond at around £92m.
175= Michael & Lesley Herbert
£92m
Lebreh
Belfast-based Michael Herbert is a fast food king who has also branched out into property development in Belfast and Scotland in a big way. He names his buildings after his wife Lesley, and so there is Lesley Plaza and Lesley Manor. Hoardings on his sites proclaim “Lesley Does It Again”.
His Herbel Restaurants holds the largest Kentucky Fried Chicken franchise in Europe. Founded in 1981 by Herbert, its parent company Herbel made a £10.4m loss on £68.5m sales in 2010 when it showed £55m net assets.
Herbert has also branched out into property development through his Lebreh operation, now owned by Lesley who is also a director. It showed £37m net assets in 2010. We value the Herberts at £92m.
175= Edward Lonergan
£92m
Deramore Holdings
Deramore Property Group sold its development on Edinburgh’s Princes Street, in the heart of the city’s tourist district, for £34m in early 2012 to German institutional clients. It will house a New Look store and a Premier Inn hotel.
It was a coup for Edward Lonergan who owns and runs Deramore, a highly profitable Belfast property developer and construction company. Deramore is worth its £88.2m net assets in 2010-11. Lonergan also has £3.7m of assets in two other property firms, Lochinver and Deramore. We value Lonergan at £92m.
178= Lord Rana & family
£91m
Andras House
Lord Rana’s Andras House firm recently submitted a plan for a 139-bed hotel, two shops and 15 apartments on the former Tillie and Henderson shirt factory site in Derry.
Rana came to Britain in 1963 from India and worked in a foundry for three years. He used his savings to buy a run-down café in Belfast. All was well until the Troubles erupted. His then three restaurants could not survive the IRA bombing blitz.
Using his £295 bomb damage compensation, Rana borrowed £14,000 from the bank and went into the property business and opened a boutique.
Later, he went into hotels and in 1990 he opened the Plaza, Belfast’s first new hotel for 20 years. His Andras House
Group made a £229,000 loss on £12.6m sales in 2010-11 but it is worth its £71.3m net assets. The Rana family’s other wealth adds £20m.
178= Simon & Paul Upward
£91m
Ocobase
Brothers Simon and Paul Upward run and own Ocobase, a Croydon-based property company. Its profits hit £3.6m on £4.8m of sales in 2011-12, one of the best profit margins in the business. But it also has £81m of net assets so we value the brothers on that figure and add another £10m for other assets the Upwards own.
The brothers are active in the Croydon area and have branched out into estate management and financial advisory services.
180= Con Folkes & family
£90m
Folkes Group
Folkes Holdings saw its profits fall sharply in 2011 from £8.3m to £2.8m on £29.9m sales.
The Midlands-based group can trace its history back to 1697, as a blacksmith making chain mail and swords.
Folkes is a diversified group with interests in steel stock holding and forging steel for industry, as well as a builders merchant.
With assets of over £100m comprising industrial estates and business parks, offices, retail investments, farmland and residential properties, the company has a portfolio of over 2m sq ft of commercial buildings in and around the West Midlands conurbation and is invested in over 800,000 sq ft of retail property in the Republic of South Africa.
At 28, Con Folkes was the youngest ever chairman of a quoted company. It was floated in 1953 on the London Stock Exchange but the family took it private again 10 years ago.
In the current climate the Folkes Group should be worth its £60.2m of net assets. We add another £30m for other assets to the Folkes family.
180= John Hitchcox
£90m
Yoo Holdings
Hitchcox, a property entrepreneur, is pleased with his Lakes project in the Cotswolds. In the six months to April 2012, it achieved sales of more than £35m.
Hitchcox co-founded the Yoo development and design group in 1999. He owns about two-thirds of the company, which was worth around £170m before the recession. But its value fell and, in 2008, its design business alone was valued at £64m. That represents around half the overall business which should be worth around £120m today, so considerably down on its peak.
Hitchcox also has around £9.5m of personal property assets and a stake in a London estate agency, Green & Co. These other assets take him to £90m.
180= Kevin McCabe & Family
£90m
Scarborough Group International
Sheffield United Football Club chairman Kevin McCabe formed the Scarborough Property Co in 1980, selling it in 2007 for £865m. McCabe’s proceeds should have been around £143m.
Born close to the Blades’ Bramall Lane ground, McCabe trained as a quantity surveyor by trade, and started working for Bovis in 1964 at the age of 16.
He joined the Teesland property group in 1971 and nine years later formed Scarborough.
His new company, Scarborough Group, turned in a £108.5m profit in 2011-12. But with hefty investments in China and spending on Sheffield United, currently in the League One promotion pack, we value the McCabe family at £90m after tax.
180= The Pickering family
£90m
Pickering Properties
Nottingham-based Pickering Properties made £17.8m profit in 2010-11, but it has £48.5m of net assets.
It was built up by the late Cavan Pickering who died in January. He built and ran three hotels in Nottingham, including the Welbeck, sold in 2002 for £6.5m. Pickering was also active in the regeneration of Nottingham’s famous Lace Market area and built real estate in America.
Other family assets such as Neverstop Ltd and Pickering Developments, with £61m net assets in 2010-11, should take the wider Pickering family to £90m.
180= William Rankin & family
£90m
Hanro
Newcastle developer Hanro secured planning permission in October 2011 to develop Parkgate, a new 120,000sq ft office scheme north of Durham.
The scheme will occupy a prominent location close to the entrance of the Belmont Business Park and Hanro is currently inviting interest from prospective occupiers. Rankin chairs Hanro, which made £5.8m on £10.1m sales in 2010.
With £85m net assets, the business should be worth that sum. It is owned by the wider Rankin family and trusts. We add another £5m for other assets.
180= Roger Wickens & family
£90m
Store Property Holdings
Store Property Holdings began developing shops and offices in Sussex over 50 years ago. Today it is a broadly-based property operation with 1.5m sq ft of industrial and retail units all over London and the south east.
The Chichester-based operation made £3.9m profit on £11.7m sales in 2011-12. Owned by Roger Wickens and his family trusts, it is worth its £84.2m net assets. Other assets take the family to £90m.
186 Ken Cheevers & family
£86m
McLaughlin & Harvey
Ken Cheevers’ McLaughlin & Harvey saw its turnover increase by an impressive 20% last year, from £165m in 2010 to £198m in 2011.
The Newtonabbey-based construction firm’s pre-tax profits saw a smaller increase, from £4m to £4.3m.
Ken Cheevers sold his first car dealership in 1996 for £25m. He now runs the County Antrim-based construction business. It is worth its £35m net assets. M&I is one of Northern Ireland’s leading construction and civil engineering companies with projects all over the UK for clients that include Tesco, P&O, Stena Lines and hospital infrastructure projects.
The Cheevers family also owns a £16m stake in Trench Holdings, an industrial group and a £22m stake in the Abbey Centre, a local property operation.
Other assets and sale proceeds take the family to £86m.
187= Peter Gadsby
£85m
Ark Capital
Peter Gadsby, one of the East Midlands’ top developers, is active through his Ark Capital operation and, in 2011, he sold for £30m a Nottingham office scheme even before it had been built.
In 2009 Gadsby was awarded an honoury doctorate of business administration by the University of Derby as a result of his achievements. He also chairs Cedar House Investments, a residential and office developer with extensive interests in the Midlands.
He had a close involvement with championship club Derby County until its 2008 £50m takeover.
Gadsby’s stake in the Birch property group was sold in 2000 for £35m to the Miller Group, which at the time was one of the UK’s largest housebuilders. In all, he is worth £85m.
187= John Marston & family
£85m
Marston Properties
The Marston family’s hotel interests were adeptly sold in 2006 for £180m.
Led by John Marston, the family has been in the building and property business since 1895. Just before the last war, it began converting four derelict cottages into holiday flats. By the early 1980s, the hotels were performing badly and the Marston family thought of selling them then. Instead, a new MD was appointed and the hotels were revitalised.
In 2002, the hotel operation was demerged from the Marston family’s property operation. Prior to the hotels’ sale, John Marston had bought out several members of his family through a £100m refinancing of the business.
Lopping this off the sale proceeds should leave the actual return at around £80m. His immediate family had about two-thirds of the shares and should have collected £50m.
The separate Marston Properties Holdings made £1.4m profit on £4.2m sales in 2010-11. It is worth its £69.4m net assets. After tax, the Marston family is worth £85m.
187= The Duke of Richmond
£85m
Gordon & family
The Goodwood Estate Company
The Goodwood Estate Company turned in a £1.8m profit on £58.1m sales in 2011, and has £52m net assets. The entrepreneurial Earl of March has done wonders at the 12,000-acre West Sussex estate. Horse racing, vintage car races and other attractions have raised huge revenue.
He has even become a film financier, putting his money into a movie called The Surrogate, which achieved critical acclaim and was sold to Fox for $6m.
March’s father, the Duke of Richmond & Gordon, succeeded his father to the title in 1992. Art treasures and the value of the Goodwood brand name should take the family wealth to £85m, but with agricultural land prices soaring, it could be a lot more.
190= Kip Bertram & family
£84m
Rysa Lodge Residential Properties
Kip Bertram and his late mother Elsie started book wholesaler Bertram Books in a disused Norwich chicken shed. In 1999 it was sold in a £54m deal, valuing the Bertram family stake at £35m.
Bertram moved into property development and other investments. In 2007 he bought a mix of 92 houses and flats in the south east, close to Heathrow, Gatwick and Luton. He is now worth £84m.
190= Zef Eisenberg
£84m
ex-Maximuscle
Now based in the Channel Isles, Zef Eisenberg wrote a book about sports supplements at the age of 18, using the profits to launch his firm, Maximuscle, supplying supplements for athletes and bodybuilders.
He sold stakes to private equity companies but remained a shareholder until December 2010 when pharma giant GSK bought the company for £162m.
Eisenberg’s recent purchase of a £12.8m retail and leisure property in London’s Kensington High Street is the latest addition to a property portfolio largely based on the Channel Islands, bought through his real estate vehicle Maxicorp.
Eisenberg’s proceeds and his property investments take him to £84m.
192= Bill Morris & family
£82m
Morris & Co (Shrewsbury)
In 1869 a James Morris opened a small grocery shop and candle factory at No. 7 Frankwell in Shrewsbury. From these humble beginnings, Morris & Co (Shrewsbury) has developed into a flourishing local business with interests in predominantly property but also care homes, power generation and marketing.
Along the way it has bought and sold businesses and been in baking, lubricants, supermarkets, cafés and even lingerie and shoe retailing. Five generations of Morris family members have developed the business.
Bill Morris, the current boss, runs the operation, which made £172,000 profit on £29.8m sales in 2010-11. It is worth its £82m net assets.
192= The Earl of Yarborough
£82m
CYZ
Yarborough runs a 28,000-acre estate near Grimsby. In 2009 Grimsby magistrates banned him from driving after he was clocked doing 125mph in his BMW on the A1. He was also fined £600 and assured the magistrates that he could pay.
Yarborough, a convert to Islam, still maintains the oldest private pack of foxhounds in the UK – the Brocklesby, which is based at his home, Brocklesby Hall. There’s a hive of commercial property activity at Brocklesby.
His father, who died in 1991, left £67m in his will. Yarborough also has some small property company assets worth around £2.2m.
With good farming land soaring in value, we put Yarborough at £82m.
194= John Chamberlain & family
£80m
Chamberlain Holdings
The Luton-based Chamberlain Group started life as a small joinery manufacturing firm in 1951, later diversifying into commercial property letting. It retained an in-house small works division dedicated to the construction and conversion of new and refurbished commercial and industrial properties throughout Bedfordshire and Hertfordshire.
Today, the group is headed by John Chamberlain and it showed £70.8m net assets in 2011. The Chamberlain family owns 99.5%. Other assets add £9m.
194= Eddie Irvine
£80m
E Irvine Enterprises
Former Formula 1 star Eddie Irvine is involved in a variety of businesses besides property, from the distribution of nutritional products to marketing emissions-reducing synthetic diesel fuel additives.
The son of a Northern Irish garage owner, Irvine never won the F1 world championship in a 10-year career from 1993 to 2002, but he earned £40m as a top driver who was pipped at the post for the 1999 championship.
Irvine invested heavily in property, with around 50 flats and houses to his name, the result of spending only 10% of what he earned. He recently bought the Bangor Grammar School’s old building while his biggest visible company asset in the UK is Chrishardzoe Developments, a property operation with £566,000 net assets.
His Eddie Irvine Sports complex in Bangor is doing well. In all, he is still worth £80m.
194= David Roberts & family
£80m
Edinburgh House
The Edinburgh House property business, which was co-founded by David Roberts in 2001, trebled its portfolio in 2011. It has been appointed by receivers to manage shopping centre assets placed into receivership by Irish banks and the like. Edinburgh House now has six UK shopping centres under management.
A canny London property man, Roberts is best known as the man behind the philanthropic David Roberts Art Foundation in London.
Edinburgh House’s parent made £4.7m profit on £57.1m sales and showed over £59m net assets in 2011. The Roberts family owns a near 90% stake worth £55m.
His art collection and other assets, such as a stake in Bawtry Properties, should take Roberts to £80m.
194= Charles Yeates
£80m
WS Yeates
Ex-RAF man Charles Yeates started in business at the age of 22 and became a leading dealer in buses and coaches.
Today his Loughborough-based company – WS Yeates – is involved in property and fine art.
In 2011, the company made a £136,000 loss but showed nearly £30m net assets. Overseas property and art takes Yeates to £80m.
198= Howard Raymond
£78m
1861 Leisure
Howard Raymond is the son of the late Paul Raymond, the owner of vast tracts of London’s Soho.
>The pair, estranged for many years, were reconciled just before Paul’s death in 2008. Raymond’s vast empire includes 90 West End freeholds, mostly in Soho, but it also covers Mayfair, Covent Garden, Notting Hill and Chelsea.
Raymond settled a family schism last year, taking 20% of the family’s Soho Estates’ property portfolio.
It is now held in a new company, Raymond Estates, with nearly £77m net assets in 2010-11. Other assets take Raymond to £78m.
198= David Russell
£78m
Property Alliance
Property Alliance agreed to two short-term lease deals at its Walkden 61 brownfield site in Salford. Georgia Pacific has taken 250,000 sq ft, while Capita will be occupying a two-acre site on behalf of the DVLA to impound uninsured and untaxed vehicles.
Alliance Property Asset Management has £330m under management across more than 113 properties and is on the lookout for more in the north west and across the UK. It is the asset management arm of David Russell’s Manchester-based Property Alliance Group.
A carpenter by trade, Russell made his first fortune in fitted kitchens, selling his business for £12m at the age of 29.
Property Alliance showed £2.7m profit and £58m net assets in 2010-11. We value Russell at £78m.
200= Michael Heller & family
£77m
London & Associated Properties
Accountant Michael Heller and his father built up and sold KP Nuts to United Biscuits in 1968. Heller shrewdly invested his wealth in property.
London & Associated Properties, which the Hellers have controlled since the early 1970s, specialises in shopping centres. The quoted group has property valued at £234m including Brixton Market, which is rapidly becoming south west London’s answer to Notting Hill.
The Hellers have done an innovative deal with a French property company that specialises in running indoor markets.
They receive a rental of more than £800,000 plus 50% of the profits once certain targets are fulfilled.
The family also has a majority stake in the quoted Bisichi Mining – which, together with other holdings and property interests, conservatively takes it to at least £77m.
200= Duncan Sinclair & family
£77m
Mountview Estates
Mountview Estates, the London-based property company, saw its profits fall slightly in 2011-12 to £22.8m on a £42.9m turnover.
Celebrating its 75th anniversary since its founding in 1937, Mountview invested £47m in properties in the year. Chaired by accountant Duncan Sinclair since 1990, Mountview is now valued at £160m by the stock market.
The company, which was floated in 1960, derives its income from, among other things, ground rents and rental income from regulated tenancies.
The Sinclair family’s stake is now worth £67m. We add another £10m for the family’s other assets and past dividends.
