Minerva (property Firm)
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Minerva (property Firm)
Minerva plc is a London-based British developer and property company co-founded by Sir David Garrard and Andrew Rosenfeld. Garrard and Rosenfeld took the company public in 1996 and subsequently left the business. Minerva returned to private ownership in 2011, on being acquired in a joint venture by clients of Delancey and Ares Management. Projects Minerva has delivered various major projects, such as The Walbrook and the St Botolph Building, and has attempted some internationally significant projects including the rejected Minerva Building in the City of London. Controversies The Minerva Building and Minerva's planned Park Place shopping and office development and its previous ownership of the Allders chain of department stores, both in Croydon, came under scrutiny amidst the 2006 Cash for Peerages political scandal, when it emerged that the Labour Labour or labor may refer to: * Childbirth, the delivery of a baby * Labour (human activity), or work ** Manual labour, phys ...
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Property
Property is a system of rights that gives people legal control of valuable things, and also refers to the valuable things themselves. Depending on the nature of the property, an owner of property may have the right to consume, alter, share, redefine, rent, mortgage, pawn, sell, exchange, transfer, give away or destroy it, or to exclude others from doing these things, as well as to perhaps abandon it; whereas regardless of the nature of the property, the owner thereof has the right to properly use it under the granted property rights. In economics and political economy, there are three broad forms of property: private property, public property, and collective property (also called cooperative property). Property that jointly belongs to more than one party may be possessed or controlled thereby in very similar or very distinct ways, whether simply or complexly, whether equally or unequally. However, there is an expectation that each party's will (rather discretion) with rega ...
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David Garrard (property Developer)
Sir David Eardley Garrard (born 12 January 1939) is a retired British property developer. Personal and early life David Garrard was born Streatham on 12 January 1939, the son of a Stamford Hill upholsterer. He attended Battersea Grammar School in South London. Garrard is Jewish. Garrard was married for forty-seven years to Maureen, who became a director of The Garrard Family Foundation and The Garrard Academy. She died in 2011. Career Garrard left school at 16 and joined an estate agency. He co-founded Minerva PLC with Andrew Rosenfeld, a property investment and development company, whose shares are quoted in the London Stock Exchange FTSE 250 Index, and served as its chairman for many years until his retirement in March 2005. Before co-founding Minerva, Garrard worked as a financial adviser. In 2008, he set up a venture capital business with his son in law Alexander Salter, but the two fell out when Salter and Garrard's daughter divorced in 2013, leading to a High Court case. ...
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Andrew Rosenfeld
Andrew Ian Rosenfeld (27 April 1962 – 8 February 2015) was a British businessman who was co-founder, chief executive, and chairman of Minerva plc. He volunteered for a number of charitable organisations and was a major donor to the Labour Party. Rosenfeld was one of twelve wealthy donors to the Labour Party named in the Cash for Honours scandal of 2006. In 2012 he co-founded The People's Operator, a mobile telephone company. Early life Rosenfeld had a bachelor's degree in Estate Management from South Bank Polytechnic, and thereafter qualified as a member of the Royal Institution of Chartered Surveyors. Charitable activities He was head of the U.K. National Society for the Prevention of Cruelty to Children's "Full Stop" campaign, raising £250 million which is the largest sum ever raised in Britain for a single children's appeal. Formerly he was a Jewish Care trustee. He was a Vice-President of the NSPCC and was Chairman of the Full Stop Fellowship. Political involvemen ...
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Delancey (property Firm)
Delancey Real Estate Asset Management Limited is a British property development company that has wholly owned subsidiaries such as DV4 based in offshore jurisdictions. The billionaire George Soros invested in the company in 1998. The company appears in the Panama papers. In 2011, the Qatari ruling family bought the Olympic Village used in the London 2012 Olympic Games. The area has been renamed the East Village. History The firm was founded by Jamie Ritblat, son of Sir John Ritblat, after he left British Land in 1995. In 2000, The Guardian reported that Delancey Estates, then a quoted George Soros-backed commercial real estate company, could take itself private. The first major office investment was reported to be 6 Chesterfield Gardens, London W1 for £30m in 2003 and Soros's Morston Nominees was said to be the largest shareholder in Delancey's old Tribeca fund. It was formerly quoted, but in 2001 went private again after a share buyback. The billionaire George Soros is an inve ...
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Ares Management
Ares Management Corporation is an American global alternative investment manager operating in the credit, private equity and real estate markets. The company was founded in 1997 and is headquartered in Los Angeles, California, with additional offices across North America, Europe, and Asia. As of September 2021, Ares Management Corporation's global platform had approximately $295 billion of assets under management and 1,500 employees operating across North America, Europe, Asia Pacific and the Middle East. History The firm was established in 1997. The co-founders included Antony Ressler, Michael Arougheti, David Kaplan, John H. Kissick, and Bennett Rosenthal. It has several subsidiaries: *Ares Capital Corporation established in 2004: provides financing for middle market acquisitions, recapitalizations, and leveraged buyouts, mainly in the United States. It is a publicly traded closed-end, non-diversified specialty finance company that is regulated as a business development co ...
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The Walbrook
''The'' () is a grammatical article in English, denoting persons or things already mentioned, under discussion, implied or otherwise presumed familiar to listeners, readers, or speakers. It is the definite article in English. ''The'' is the most frequently used word in the English language; studies and analyses of texts have found it to account for seven percent of all printed English-language words. It is derived from gendered articles in Old English which combined in Middle English and now has a single form used with pronouns of any gender. The word can be used with both singular and plural nouns, and with a noun that starts with any letter. This is different from many other languages, which have different forms of the definite article for different genders or numbers. Pronunciation In most dialects, "the" is pronounced as (with the voiced dental fricative followed by a schwa) when followed by a consonant sound, and as (homophone of pronoun ''thee'') when followed by a v ...
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St Botolph Building
The St Botolph Building is a commercial office in Houndsditch, central London, opened in 2011 and designed by Grimshaw Architects. It is one of a number of landmark buildings recently delivered or in development to the East of the 30 St Mary Axe, Gherkin in the City of London Wards of the City of London, ward of Aldgate, which together with the wards of Langbourn, Cornhill and Lime Street forms the centre of the UK insurance industry. Two of the three main tenants, Jardine Lloyd Thompson and Lockton Companies, Lockton, are businesses with a substantial insurance broking component, which are therefore reliant on close proximity to the Lloyd's building and the globally-significant London market in insurance contracts that focuses on Lloyd's of London. The third main tenant, Clyde & Co, also has insurance ties as one of the largest insurance and reinsurance law firms in the world. History The previous building occupying the majority of the site was a modern municipal-style office ...
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Minerva Building
The Minerva Building was a skyscraper once planned for the eastern edge of London, London's main financial district, the City of London. If built, it would have been the first building in the City of London to contain more than of office space. History A revised planning application by developers Minerva plc for the 53-storey version was submitted during the week ending 12 July 2002. The original proposal for the site, known as the St. Botolph's House, was a 14-storey office block. In 2001, this was revised to a 36-storey, tall office tower. A post-September 11, 2001 attacks, September 11 revision brought structural and design changes and a further increase in height, to 53 floors and . Its location marks the Eastern gateway to the City and the building might have acted as a focus for the regeneration of the eastern City fringe. The site is outside the strategic views of St. Paul's, and does not contain listed buildings, although it does infringe upon a conservation area. It als ...
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City Of London
The City of London is a city, ceremonial county and local government district that contains the historic centre and constitutes, alongside Canary Wharf, the primary central business district (CBD) of London. It constituted most of London from its settlement by the Romans in the 1st century AD to the Middle Ages, but the modern area named London has since grown far beyond the City of London boundary. The City is now only a small part of the metropolis of Greater London, though it remains a notable part of central London. Administratively, the City of London is not one of the London boroughs, a status reserved for the other 32 districts (including Greater London's only other city, the City of Westminster). It is also a separate ceremonial county, being an enclave surrounded by Greater London, and is the smallest ceremonial county in the United Kingdom. The City of London is widely referred to simply as the City (differentiated from the phrase "the city of London" by ca ...
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Park Place (Croydon)
Park Place was a proposed shopping centre which had been expected to open in Croydon, London by 2011. The date was continuously pushed back due to a number of problems between different developers, financial backers and the local council.''Croydon Guardian''Work on Park Place delayed 7 May 2008. It was cancelled in 2009, as other schemes began progress, such as the extension to Centrale and the possible takeover of the Whitgift Centre by Westfield Group. Park Place was part of the Croydon Vision 2020 re-generation scheme. Park Place has been proposed by developers Minerva plc and was given planning approval in 2000 by Croydon Council after which the Government Office for London decided not to proceed with a call-in in 2003, despite concerns over traffic and the impact upon existing retail. This decision, ultimately by Deputy Prime Minister John Prescott, caused controversy in 2006 amidst the Cash for Peerages political scandal, when it emerged that two of Minerva's previous an ...
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Allders
Allders was an independent department store operating in the United Kingdom. The original store was established in 1862 in Croydon by Joshua Allder. In the second half of the 20th century, this parent store was developed into a chain of department stores across England and Wales. By the turn of the millennium, the flagship store in Croydon was the third-largest department store in the United Kingdom. The chain was broken up and sold after it went into administration in 2005, although the Croydon store continued trading until 2012, having been purchased by Harold Tillman, the then-owner of the Jaeger clothing company. On 17 January 2013, the company closed the store along with the website, and the brand ceased to exist. In 2018 the brand relaunched with a department store in the former Co-op Department Store in the Paisley Centre in Paisley. Joshua Allder Allders was opened in 1862 at 102 and 103 North End, Croydon, as a "linen draper and silk mercer" by Joshua Allder (1838–1 ...
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Croydon
Croydon is a large town in south London, England, south of Charing Cross. Part of the London Borough of Croydon, a local government district of Greater London. It is one of the largest commercial districts in Greater London, with an extensive shopping district and night-time economy. The entire town had a population of 192,064 as of 2011, whilst the wider borough had a population of 384,837. Historically an ancient parish in the Wallington hundred of Surrey, at the time of the Norman conquest of England Croydon had a church, a mill, and around 365 inhabitants, as recorded in the Domesday Book of 1086. Croydon expanded in the Middle Ages as a market town and a centre for charcoal production, leather tanning and brewing. The Surrey Iron Railway from Croydon to Wandsworth opened in 1803 and was an early public railway. Later 19th century railway building facilitated Croydon's growth as a commuter town for London. By the early 20th century, Croydon was an important industria ...
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