Rich List 2012: =No.44 - Constantine Folkes (£105m)
Folkes Holdings – 100 per cent owned by Constantine Folkes and his family - is one of the largest private property groups in the Midlands. The company combines property development and investment with Black Country metal bashing, and together they have been a source of wealth for Mr Folkes, who can trace his company back to 1697.
Mr Folkes is a descendant of the Lye blacksmith who began the business more than 300 years and nine generations ago.
Folkes Holding’s main business is now developing and investing in industrial, office and residential property in the UK as well as investing in retail and commercial property in South Africa.
The company has an extensive portfolio which includes property in Wellingborough, Birmingham, and throughout the Black Country as well as Studley Point in Birmingham Road, Studley – one of the most prominent office buildings in the area.
Folkes Holdings has a stated net asset value of £60 million, but property assets, cash assets and consistent profits based on trading, asset growth and currency gains easily give the company a real worth closer to £85 million.
The South African operation in particular, has shown significant growth in five years of trading.