business

Rich List 2017: No.24 - Simon Clarke and family

Non-Executive Director St Modwen regeneration firm has seen his fortune increase by £5 million while dropping five places on the Rich List

Simon Clarke, owner St Modwen

Property/Construction
2017: No.24 - £185m
2016: No.=19 - £180m

Revenue and profits are climbing rapidly at Simon Clarke’s St Modwen regeneration company.

The developer saw a big increase in pre-tax profits in 2015 to more than £235 million compared to £132 million in 2014.

The record-breaking results are underpinned by growth in the UK property sector and the regional marketplace, resulting in rising values for its housing and commercial sites.

The firm has a 5,900 acre landbank worth more than £1.3 billion.

The performance was buoyed by further advances in its residential business as the housing market continues to lift, and a continued focus on London and the South East with further acquisitions.

St Modwen is marketing the New Covent Garden Market project in Nine Elms developed in a joint venture with VINCI.

Elsewhere the company is continuing £10 million development of the Goodyear factory site in Wolverhampton where 600 homes will be built, the 90,000 sq ft St Matthews Quarter shopping development in Walsall and the expansion of the Burton Gateway business park on the A38.

St Modwen has relocated its office from Quinton Business Park to Longbridge where it is carrying out a £1 billion regeneration project.

The company is occupying 11,300 sq ft of space at Park Point, the new-build office development in the newly-created Longbridge town centre.

St Modwen's chief executive for the last 13 years, Bill Oliver, stepped down at the end of last year to be replaced by Mark Allan.

Simon Clarke, aged 51, takes an active part in the running of St Modwen, the company founded by his late father Sir Stan Clarke who died in 2004. He also owns Shrewsbury-based Rea Valley Tractors which has assets approaching £6 million.

In 2007 the family sold their 56 per cent stake in Dunstall-based Northern Racing for £65.9 million.

Simon Clarke lives on his Staffordshire estate at Dunstall.

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