A huge new ASDA superstore opened in Worcester in 2012 creating 350 jobs. The store is one of the centre-pieces of a project by Oldbury-based Richardson Capital to transform the Lowesmoor area of Worcester – all part of a £75 million regeneration scheme with Carillion.
The scheme, christened the St Martins Quarter, includes retail outlets, restaurants, leisure facilities and a multi-story car park. The new ASDA boasts 125,000 sq ft of floor space and a car park for 500 vehicles.
Richardsons was founded 60 years ago by the Black Country’s most famous twins – Roy, aged 82, and the late Don Richardson, and is now looked after by sons Lee, Carl and Martyn Richardson.
They believe in thinking global and the company, which also specialises in business investment as well as property, now has developments across many European countries including Hungary, Austria and The Netherlands.
A recent investment is the luxurious Palazzo Dorrotaya, one of the most exclusive office addresses in Budapest. Richardson Capital are joint owners with RDM Gruppo Fingen of Italy. The 1821 building has recently been renovated and is occupied by UBS and global legal services firm Baker & McKenzie. It also includes luxury apartments and shops.
One of the latest Richardson shopping malls to open its doors is in Salzburg in Austria. It’s the second project in Austria developed by Richardsons and McArthur Glen. The mall close, to Salzburg city centre and the airport, was designed along the lines of a 1920s shopping arcade with an interior mall and circular galleries on two levels. It has 140 stores including Hugo Boss and Calvin Klein.
Don Richardson died in September 2007, aged 77, bringing an end to the legendary partnership of Don and his younger twin Roy Richardson who founded the hugely successful Richardson Group of companies.
Despite expansion across the world, the Richardson twins will be best remembered for one of their earliest and biggest regeneration developments on their own doorstep – the transformation of the 300 acre former Round Oak Steelworks into the Merry Hill Shopping Centre. This development is one of the biggest retail centres in Europe.
The company has an impressive property portfolio. The main Richardson company – Swiftfire – has returned to profit after a dip caused by the fall in property values. In 2010 the firm recorded a £2.5 million profit and the company has net assets worth more than £141 million.
The company is expanding into North America with a £50 million joint venture deal with locally-based Carillion Plc to develop prime sites in the fast expanding Greater Toronto area of Canada.
The company has also taken a 50 per cent stake in a £600 million new town project which will resurrect the site of Scotland’s iconic Ravenscraig steelworks near Motherwell. This is one of the biggest regeneration projects in Europe. Another Scottish development – in association with Carillion –is a retail park on the site of the former truck plant in Bathgate.
The Richardson Brothers Foundation was established in 2006 to help less fortunate members of society, and has helped many organisations, particularly the young requiring skills to get into employment, ex-servicemen and women, and sick children.
The family has significant interests in other property and non-property related businesses.