Rich List 2012: No.17 - Tony Gallagher (£450m)
Tony Gallagher, through Gallagher Estates and Gallagher Developments, has spent more than three decades accumulating land and property assets. The result is a vast land bank under development, with planning consent or as an investment.
That, combined with substantial cash resources from selling large retail parks, and no borrowing have seen Tony Gallagher and his Warwick-based company get through the downturn better than many in the construction business.
Valuable land and property assets in the UK and Europe mean that 60 year-old Tony Gallagher is able to buy, develop and sell when the market is right – a valuable insurance when land values are tumbling. While he has been selling over the last two years, he still has a retail park portfolio of nearly three million sq ft.
Meanwhile the two divisions of Tony Gallagher’s company are developing a wide range of business, retail and residential projects.
Gallagher Estates and Gallagher Developments are involved in schemes across the UK and the company has worked with more than 50 local authorities on development and regeneration projects. The company describes itself as a “master developer” and a “place maker”, assembling land and building new communities in a sustainable way.
Urban regeneration projects are being developed in Manchester, Northampton and Warwick, to name but a few, while urban extension schemes are underway in Cambridge, Bristol and Milton Keynes.
