2018: No.15 - £480m
2017: No.14 - £480m
Property magnate Roy Richardson has been made a Freeman of Sandwell. The head of the Richardson family, best known for creating the Merry Hill Shopping Centre in Brierley Hill, is the first businessman to receive the honour.
Merry Hill is still owned by the family business, now run by Roy Richardson's three sons, Lee, Carl and Martyn.
The Richardson's property company has projects and joint ventures across Europe and North America. A major project is the regeneration of part of Durham’s Riverside – Freemans Reach – which is the UK’s first city centre development to use hydro power generation.
The Richardson business has bought a two-third stake in Manchester-based commercial property developer Ask, which was previously owned by troubled construction group Carillion. Ask has schemes across the north of England including an £80 million scheme in Manchester city centre and the redevelopment of Lancashire Cricket Club's Old Trafford Ground.
Richardsons is also transforming the Lowesmoor area of Worcester as part of a £75 million regeneration scheme, christened the St Martins Quarter, which includes retail outlets, restaurants, leisure facilities and a multi-story car park as well as an ASDA which boasts 125,000 sq ft of floor space and a car park for 500 vehicles.
Richardson’s has been developing real estate for six decades. The company was founded more than 60 years ago by the Black Country’s most famous twins – Roy, aged 87, and the late Don Richardson.
The company is growing internationally and has developments across many European countries including Hungary, Austria and The Netherlands
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 a large property portfolio. The main Richardson company – Dukehill - Ltd turns over more than £60 million and has assets worth more than £100 million. Property asset companies in its investment portfolio include Waypoint Asset Management, specialising in retail, Endurance Estates which has completed largely residential development projects worth around £2 billion, and East Street Homes, specialising in obtaining sites and buildings with residential potential.
The company has a 50 per cent stake in a £600 million new town project which is resurrecting the site of Scotland’s iconic Ravenscraig steelworks near Motherwell. This is one of the biggest regeneration projects in Europe. Another Scottish joint venture development is a retail park on the site of the former truck plant in Bathgate.
The Richardson Brothers Foundation was established by the family in 2006 to help less fortunate members of society, and has helped many organisations including The Children’s Trust, Cure Leukaemia, Macmillan Care, Guide Dogs for the Blind and Acorns Hospice.
The family has significant interests in other property and non-property related businesses.