Stanhope plc
{{Short description|Property development company in England}}
{{Use dmy dates|date=May 2024}}
{{Use British English|date=May 2024}}
{{Infobox company
|name = Stanhope plc
|logo = Stanhope logo.svg
|type = Limited company
|foundation = 1983
|founder = Stuart Lipton
Peter Rogers
|predecessor =
|location = London
|key_people = David Camp (CEO)
|industry = Real Estate
|products =
|area_served = England
|revenue = £32 million
|revenue_year = 2024
|operating_income =
|income_year =
|net_income = £11 million
|net_income_year = 2024
|num_employees =
|num_employees_year =
|parent = AIMCo
Cadillac Fairview (25%)
Mitsui Fudosan
|subsid =
|homepage = {{URL|https://www.stanhopeplc.com/}}}}
Stanhope plc is a large property development company based in London, England. Its developments have included Broadgate and Television Centre at White City.
History
Stanhope was founded by Stuart Lipton and Peter Rogers in 1983.[https://web.archive.org/web/20240723090640/http://www.liptonrogers.com/partners/ Sir Stuart Lipton] Lipton Rogers{{cite news|url=https://www.constructionenquirer.com/2013/01/14/lipton-and-rogers-pair-up-again-to-form-london-developer/|title=Lipton and Rogers form new London developer|date=14 January 2013|newspaper=Construction Enquirer|access-date=15 May 2024}} They were the developers of the Broadgate complex in the 1980s.{{cite news|url=https://www.standard.co.uk/business/markets/sir-stuart-lipton-the-veteran-property-developer-with-a-vision-for-a-swathe-of-rundown-london-9920001.html|title=Sir Stuart Lipton: The veteran property developer with a vision for a swathe of rundown London|date=12 December 2014|newspaper=Evening Standard|access-date=15 May 2024}}
In 1995, the company developed Gresham St Paul's (previously Garrard House) in Gresham Street, London, for Schroders.{{cite web|url=https://www.architectsjournal.co.uk/specification/gresham-st-pauls-by-wilkinsoneyre|title=Case study: Gresham St Paul's by WilkinsonEyre|date=8 March 2021 |publisher=Architects' Journal|access-date=15 May 2024}} The company went on to develop Paternoster Square, in partnership with Mitsubishi Estate, in the late 1990s.{{cite web|url=https://www.commercialnewsmedia.com/archives/109996|title=Work starts on Mitsubishi and Stanhope's Warwick Court refurb|date=15 March 2021|newspaper=Commercial News Media |access-date=15 May 2024}}{{cite web|url=https://historicengland.org.uk/content/docs/get-involved/translating-good-growth-london-historic-environment-120717-pdf|title=Translating Good Growth for London's Historic Environment|page=45|publisher=Historic England| access-date=15 May 2024}}
In 2000, Stanhope, along with British Gas, Lendlease, Chelsfield plc and Hambros Bank formed Exchequer Partnership plc, a special purpose vehicle, which successfully bid for the PFI contract for the refurbishment of Government Offices Great George Street, London to house HM Treasury.{{cite book |first1=Tony|last1= Merna |first2= Cyrus|last2= Njiru |title=Financing Infrastructure Projects |date=2002 |publisher=ICE Publishing|location=London |doi= 10.1680/fip.30404 |isbn=978-0727730404|url=https://www.icevirtuallibrary.com/doi/book/10.1680/fip.30404}}
Lipton sold his share in the company to the chief executive, David Camp, in December 2005.{{cite news|url=https://www.egi.co.uk/news/sir-stuart-lipton-finalises-stanhope-stake-sale/|title=Sir Stuart Lipton finalises Stanhope stake sale|date=23 December 2005|newspaper=Radius|access-date=15 May 2024}}{{cite web|url=https://competitions.malcolmreading.com/museumoflondon/jury/david-camp.html|title=Jury: David Camp|publisher=West Smithfield International design Competition|access-date=15 May 2024}} In July 2012, in partnership with Mitsui Fudosan and AIMCo, the company acquired Television Centre at White City for £200 million.{{cite press release | url=https://www.bbc.com/mediacentre/statements/tvc-sale-completion | title=BBC, Stanhope Plc and Mitsui Fudosan complete sale of Television Centre | publisher=BBC News | date=20 July 2012}}{{cite web|url=https://www.theguardian.com/media/2012/jul/16/bbc-sells-television-centre|title=BBC sells Television Centre for £200 million|newspaper=The Guardian|date=14 July 2012| access-date=15 May 2024}} and, 2019, in partnership with Mitsubishi Estate, the company started work on the 51-storey 8 Bishopsgate tower block.{{cite news |last=Norman |first=Paul |date=11 May 2022 |title=Mitsubishi and Stanhope Land Debut Tenant At Ultra Sustainable City Tower |url=https://www.costar.com/article/768159512/mitsubishi-and-stanhope-land-debut-tenant-at-ultra-sustainable-city-tower |url-access=subscription |access-date=22 January 2023 |work=CoStar Group}}
As at December 2022, AIMCo, Cadillac Fairview and Mitsui Fudosan held a combined 80% of the shares with management owning the remainder.[https://web.archive.org/web/20240723091136/https://www.cadillacfairview.com/news/Cadillac-Fairview-buys-25-percent-stake-in-Stanhope/ Cadillac Fairview buys 25% stake in Stanhope] Stanhope 13 December 2022
Notable projects
Notable projects Stanhope has been involved in have included:
- BFI IMAX{{cite web|url=https://www.architectsjournal.co.uk/archive/imax-transforms-waterloos-bullring |archive-url=https://web.archive.org/web/20231029092314/https://www.architectsjournal.co.uk/archive/imax-transforms-waterloos-bullring|archive-date=29 October 2023|title= Imax transforms Waterloo's bullring|newspaper=Architect's Journal|date=3 June 1999}}
- Broadgate{{cite news|url=https://www.ft.com/content/a00a9c66-8c31-11de-b14f-00144feabdc0|archive-url=https://web.archive.org/web/20231031055156/https://www.ft.com/content/a00a9c66-8c31-11de-b14f-00144feabdc0 |archive-date=31 October 2023|title=Broadgate sees history repeat itself - at high speed|newspaper=Financial Times|date=19 August 2009}}
- Central Saint Giles{{cite news|url=https://www.propertyweek.com/news/renzo-piano-designs-for-central-st-giles-unveiled|archive-url=https://web.archive.org/web/20240723092217/https://www.propertyweek.com/news/renzo-piano-designs-for-central-st-giles-unveiled |archive-date=23 July 2024|title=Renzo Piano's designs for Central St Giles unveiled|newspaper=Property Week|date=25 March 2008}}
- Chiswick Works redevelopment as Chiswick Business Park{{cite news|url= https://www.stanhopeplc.com/project/chiswick-park/|archive-url=https://web.archive.org/web/20231208100849/https://www.stanhopeplc.com/project/chiswick-park/|archive-date=8 December 2023|title= Chiswick Park|newspaper=Stanhope}}
- Gloucester Transport Hub{{cite news|url=https://www.bbc.com/news/uk-england-gloucestershire-27409409 |title=Gloucester transport hub to replace old bus station|newspaper=BBC News|date=14 May 2014}}
- Station Hill, Reading{{cite web|url=https://www.bbc.com/news/uk-england-berkshire-44443095|title= Station Hill: £500m Reading development gets new owners|newspaper=BBC News|date=12 June 2018}}
- Stockley Park{{cite news|url=https://capitalwestlondon.co.uk/darin-buys-at-stockley-park/|archive-url=https://web.archive.org/web/20210111090530/https://capitalwestlondon.co.uk/darin-buys-at-stockley-park/ |archive-date=11 January 2021|title=Darin buys at Stockley Park|newspaper=Capital West London}}
- Television Centre, London
- 8 Bishopsgate
References
{{reflist}}
{{Real estate in the United Kingdom}}
Category:Property companies based in London