A property tycoon – who owns large swathes of high streets in south Bucks – has been named one of the richest men in the country, after making more than £512 million in the past year.
Founder of the Shanly Group, Michael Shanly, 72, has been ranked 249th on The Sunday Times Rich List – jumping 21 places from last year’s spot.
The company’s commercial arm – Sorbon Estates – owns a string of High Street properties in Marlow and is landlord to many shopkeepers.
But a number of businesses have hit out at the firm after being priced out of the High Street due to “extortionate” rents, including Huttons which is set to close on May 20.
Based in Beaconsfield, the Shanly Group has completed more than 1,000 development sites in the south east, according to The Sunday Times entry.
It said that Sorbon Homes and Sorbon Estates – the company’s two largest operations – showed profits of almost £59 million on sales of £186 million, with assets of around £347 million.
Mr Shanly’s son Stephen, 42, also works for the company.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereLast Updated:
Report this comment Cancel