A start-to-finish approach to urban regeneration, a broad development portfolio, substantial cash resources and no borrowing. These are just some of the reasons that Tony Gallagher has survived the downturn in good shape.
That, combined with valuable land and property assets in the UK and Europe assembled over three decades means that 58-year-old Tony Gallagher is one of the few super-rich Midlanders to improve their position in the Rich List while maintaining their wealth.
If you look at the long lists of business, retail and residential developments under way by the two divisions of Tony Gallagher’s Warwick-based company, you wouldn’t believe there had ever been a credit crunch.
Gallagher Estates and Gallagher Developments are involved in dozens of schemes across the UK from Cambridge to Caerphilly, from Bristol to Bedford. The company has worked with more than 50 local authorities on development and regeneration projects.
If Tony Gallagher’s approach to the slump in the property market is to spread the risk geographically and across sectors, then it’s certainly working. The Gallagher signboards are up on a huge variety of projects from small 20 acre developments to entire towns.
One of the flagships from Gallagher Developments is the Warwick Gates Business Park which offers business properties and offices of all sizes, complete with lake, tree-lined boulevards, a health and fitness club and a day nursery
His Gallagher Estates is building not one but two sustainable new towns; one in Bedfordshire and one in Cambridge.
These two huge projects form just part of the portfolio of developments across the country for Gallagher’s two divisions, which are rich in land and property assets. Gallagher Estates alone owns or controls land with planning consent for more than 32,000 residential plots. The company is partnering Milton Keynes Council in the development of new communities in its Western expansion area.
Gallagher Developments owns land with planning consent for six million square feet of commercial development, with the emphasis on retail. The core business involves an investment portfolio of around 2.7 million square feet of retail parks throughout the country.
Gallagher UK continues to be one of the most successful privately-owned commercial and residential property development and investment companies in the UK, with net assets valued at around £450 million.
Tony Gallagher, as owner and chairman, has driven Gallagher UK to a powerful position in the development business, with substantial cash reserves and, he is proud to say, no borrowings.