Rich List 2012: No.21 - David Wilson (£350m)
Construction veteran David Wilson has made a success of his latest venture – Leicester-based Davidsons Developments – despite the slump in the building sector.
New developments from Davidsons, which has assets close to £80 million, include the Lavender Fields housing development in Rainworth, Nottinghamshire. These houses, like all homes built by Davidsons, can be indentified by the distinctive "rose" logo in wood or stone included in the structure.
This is David Wilson’s second go at running a house building company. The record-breaking £2.2 billion takeover of his Leicestershire-based property group Wilson Bowdon by rivals Barratt Developments put more than £700 million into the Wilson family coffers.
Former chairman David Wilson – who together with his family owned 33 per cent of the business – said the deal was the best way forward for the business. The takeover created the biggest home-builder in Britain.
Unfortunately, of the £700 million Barratt paid to David Wilson and family holdings, only £300 million was paid in cash. The rest was in shares and the value of those shares went through the floor.
