Elliott Bernerd (born 23 May 1945) is a British

property developer Real estate development, or property development, is a business process, encompassing activities that range from the renovation and re-lease of existing buildings to the purchase of raw land and the sale of developed land or parcels to others. ...

, the co-founder of the property company Chelsfield with Sir

Stuart Lipton Sir Stuart Anthony Lipton (born 9 November 1942) is a British property developer, a founder of Stanhope plc, and the co-founder of the property company Chelsfield with Elliott Bernerd, and now a co-founder (with Peter Rogers) and partner in Lipt ...

Early life

He was born in

Maida Vale Maida Vale ( ) is an affluent residential district consisting of the northern part of Paddington in West London, west of St John's Wood and south of Kilburn. It is also the name of its main road, on the continuous Edgware Road. Maida Vale is ...

, London on 23 May 1945, the only child of a film producer father. His parents divorced when he was 7. He was educated at various schools, leaving Davies Tutorial College, Holland Park, at the age of 15.

Career

Aged 15, Bernerd went to work for Dorrington Investment Trust, with his heart "set on a career in property". In 1983 he began the development of Stockley Park in west London (he paid £8 million for the site; in 1988, the development sold for £365 million, of which £20 million went to Bernerd). In 1986, he co-founded Chelsfield, which, in 1988, bought Wentworth Golf Club for £17.7 million (also reported as £20 million). Bernerd sold 40% of the club to Japanese investors, raising £32 million, in 1989. In 2004, Chelsfield sold the remaining 60% share, as Richard Caring bought the club for £130 million. In 1993, Chelsfield acquired the Merry Hill Shopping Centre project, putting up £35 million, alongside £120 million from a group of

Saudi Arabian Saudis ( ar, سعوديون, Suʿūdiyyūn) are people identified with the country of Saudi Arabia. This connection may be residential, legal, historical or cultural. The Saudis are composed mainly of Arabs and primarily speak a regional dialect ...

investors (from whom Bernerd received a £6 million finder's fee). Chelsfield later bought out the Saudi investors. By 2004, Merry Hill's value was close to £2 billion. In 2008, the

Qatar Investment Authority The Qatar Investment Authority (QIA; ar, جهاز قطر للإستثمار) is Qatar's sovereign wealth fund. The QIA was founded by the State of Qatar in 2005 to strengthen the country's economy by diversifying into new asset classes. In 2021 ...

purchased a 20% stake in Bernerd's property group, Chelsfield, which owned London's Camden Market. According to

Institutional Investor An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...

, Bernerd was a client of a Jersey-based offshore trust company La Hougue which engaged in tax minimisation through legal as well as illegal loopholes and other avoidance measures.

Personal life

He had two adult daughters with his ex-wife, from whom he was divorced sometime before 1992. His daughter Tara Bernerd is a London-based

interior designer Interior design is the art and science of enhancing the interior of a building to achieve a healthier and more aesthetically pleasing environment for the people using the space. An interior designer is someone who plans, researches, coordina ...

. In 1993, Bernerd was living in Surrey, with his third wife.

References

{{DEFAULTSORT:Bernerd, Elliott 1945 births British businesspeople Living people