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Entrepreneurs

Vincent Tchenguiz Now Investing In Biotech

Property tycoon Vincent Tchenguiz’s latest investment outside the property world is in biotechnology, it is reported. Tchenguiz is said to be investing $7 million (about £5.5m) in BioProtect Ltd. Israel-based BioProtect has developed a proprietary technology platform for biodegradable balloons which can be used to protect healthy tissue from radiotherapy during the treatment of prostate cancer. With the product already launched in Europe it is reported that this latest funding round will help finance clinical trials

Tchenguiz Supports First Group Revolution

Property tycoon Robert Tchenguiz has told a newspaper that he is supportive of a campaign to remove the current board of bus and rail operators First Group Plc. Tchnengiz has bought 0.5% of the shares of First Group recently and has apparently told the newspaper that he supports the activities of its biggest investor, Coast Capital, who are trying to install their own choice of directors. He explained to the newspaper: “Coast is not trying to take control of this company, all they're trying to do is highlight that

High Profile Appointments At Chesterman’s Cazoo

Cazoo, the used car buying platform being set up by Zoopla founder Alex Chesterman, has made three high profile appointments, all with extensive experience in the sector. Former Auto Trader UK Sales Director Kevin Harding has been appointed as Pricing Director. Tesla’s former General Manager Remarketing will become Operations Director, while Manheim's former Vehicle Solutions Director Bryan Stringer will join as Head of Operations. Cazoo’s Chief Commercial Officer Paul Whitehead says: “We’re delighted to welcome

Mayfair Best Place In World For Property – Caudwell

London’s Mayfair is the ‘best part of the best capital in the world’ from a property development point of view, according to mobile phone and property tycoon John Caudwell. Speaking to Spears Magazine as his own ultra-luxury Mayfair development progresses Caudwell suggests that Mayfair holds this lofty status as demand for high end property there exceeds the supply of developable space. He also suggests that Brexit will not affect the development potential in Mayfair, although any future Jeremy Corbyn government could.

Where Property’s Heavyweights Go After They Quit The Boardroom

Not every boardroom or senior property industry executive wants to or can stay at the top for good. The pressures of internal politics, ambitious targets and a volatile housing market persuade many to look for job satisfaction away from the hurly burly of corporate life. But where to? The most recent example is Graham Lock, the former managing director of estate agency giant The Property Franchise Group (TPFG), who revealed last week that he was establishing a trade body. Called the Federation of Independent Agents

Nick Candy Facing £1.5bn Claim Over £160m Penthouse

Property tycoon Nick Candy is facing a £1.5bn legal claim, it is reported. A story in the Daily Mail says that the claim is being made by company director Michael Brown who was involved with a prospective sale of Candy’s £160m penthouse at One Hyde Park, London. The property is said to be the most expensive flat in Britain. Candy took out a £80m mortgage on it last year, thought to be one of Britain’s largest ever residential mortgages. The report says that a spokesman for Nick Candy denies the claim and believes

Hitchcox Shuns Residential, Says Olympia ‘Will Keep Us Going’

Property tycoon John Hitchcox says he is avoiding residential developments in the UK for now, and will focus on a £1bn redevelopment of London’s Olympia exhibition centre. Hitchcox’s Yoo Capital Olympia scheme will incorporate two new hotels, restaurants, a theatre, performance space to create a new performing arts and cultural district, 670,000 sq ft of offices and a hub for tech companies. Hitchcox said in a Bloomberg report: “London is a great city and will always be a great city, and this will keep us going. It’s

OakNorth Is ‘Best Fintech On The Planet’

OakNorth Bank is Europe’s most valuable fintech company according to a fintech expert writing for Forbes. OakNorth has a $2.8bn valuation, so says the report. It has raised $1bn todate and lent $4bn to British businesses without a single credit default. Earlier this year it secured an investment of $440m, the largest of any fintech in European history. The business is also described as a ‘rare breed of fintech unicorn’ as it is profitable, reporting a 220% increase in pre-tax profits to £46m in its third full year of

Majority Of World’s Property Billionaires Are Chinese

There are 239 people worldwide worth a billion dollars or more as a result of property and 139 are Chinese – according to the Hurun Global Real Estate Rich List 2019. Hurun says that Xu Jiayin of Shenzhen-based Evergrande is the richest real estate tycoon in the world with total wealth of $37bn. The report, which has been compiled for the first time this year, adds that the US and UK are second and third in the world rankings with 26 and 17 dollar property billionaires respectively. Rupert Hoogewerf, Chairman and

Even Some Property Tycoons Can’t Afford London

A budding young property tycoon who has built a portfolio of six properties worth over £1.5m still cannot afford to buy a property in London, a report says. According to the Daily Mail Emily Evans, 30, has built a £1.5m property portfolio by buying and renovating houses in the south west of England – including a single renovation which returned a £65,000 profit. However she says that she still cannot afford to buy a single property in London where she works, and rents there instead. Evans puts her success down to her

Czech Tycoon Invests In Billionaire’s Buy To Let

Czech property tycoon Radovan Vitek has spent £55m on a portfolio of 11 luxury serviced apartments on The Bishops Avenue, London N2 – a road that it is frequently referred to as ‘billionaire’s row’. The Evening Standard says that Vitek’s CPI Property Group has sealed the deal in a joint venture with private investor Dean Main. The purchase comprises 11 lateral apartments in the Buxmead development. Buxmead’s apartments come complete with a hotel style amenities including a concierge service, indoor pool, spa and cinema

Reuben Brothers Continue To Diversify

David and Simon Reuben have continued to diversify their investments away from property by making an investment into HiSky. It is said that the investment in the Israel-based company will be used for the network roll out and development of Smartellite. Smartellite is a system that offers what it calls ‘affordable’ global satellite communication at prices lower than existing technology. The system has applications in providing communications and tracking services even in the most remote locations. A spokesman for Reuben…

Tchenguiz Puts More Into Tech

Property mogul Vincent Tchenguiz is to invest another $100m in technology companies with a particular focus on biotechnology, it is reported. Tchenguiz’s Consensus Business Group is thought to have already invested $200m in tech companies over the last few years, either directly or through venture capital companies. It is believed biotechnology accounts for around two thirds of those investments with others in areas including cyber security and AI. Estimates say Tchenguiz and his brother Robert amassed a property…