Tchenguiz family trust
Companies controlled by the Tchenguiz family trust
Important: this document was last updated in March 2011. Whilst the structure may have changed since that date, it gives a clear example of what Charter Quay was up against when taking on Peverel and the landlord during our fight for independence.
Please feel free to download this document as a PDF or link to this article. If you choose to republish the information below, quote from this article or host this document elsewhere we ask that you provide a link back to this page.
Contents
Introduction
March 2011 update
Why does it matter?
The group complexity
Other web sites which may contain information about the Tchenguiz group
Company structure of the residential and retirement part of the Tchenguiz group
Company Listing
DISCLAIMER
Introduction
This document sets out to detail many of the companies listed as being ultimately controlled by the Trustees of the Tchenguiz family Trust [i]. The document concentrates on the part of the organisation predominantly trading in the residential and retirement leasehold sectors. The part of the group which deals with the pub restaurant sector is briefly mentioned at the end of the document.
This document has been prepared based on
- accounts submitted to Companies House
- company reports produced by companysearchesmadesimple
- Tchenguiz controlled company website statements
- Press reports
This document does not attempt to make any claims or comment on the merits of the structure or provide detail of the directors in each of the companies. Examination of Companies House records show that several individuals hold multiple directorships across a number of companies within the group.
April 8th 2011update.
Proxima the new name created for some of the Peverel companies to replace Aztec is now updated for all relevant companies in the main list. April also notes some new companies. Beech Head (no1), Beech Head (no2, and then 3 and 4 have been created along with Fairgap.
March 29th 2011 update. What Next?
The various Peverel named companies which changed to Aztec in early March have change again. Peverel Properties changed to Aztec GR Properties Ltd on 1/3/11 and is now called Proxima GR Properties Ltd as of the 24/3/11. We will leave most of the Aztec list below just in case they change again.
March 20th 2011 updatePeverel Properties Ltd changed its name on 1st March to Fairhold Properties then on the same day it changed to Aztec GR Properties Ltd. (Many thanks to the person who spotted this change)
The newly named Aztec GR Properties Ltd 2009 accounts state under it's old name "Peverel Properties Ltd or one of it subsidiaries owed PeverelGroup Ltd or one of its subsidiaries £595,559,697.00. This is considered to be interest free".
Also Peverel Property Onwership renamed Aztec Property Ownership 1/3/11 with various other Peverel named companies in this section of the group moving to the Aztec name on the 1/3/11 or 9/3/11.
March 14th 2011 updateIt is reported in the Financial Times today that various Peverel related holding companies have going into administration. The administrators have advised this will have no impact on the operating company subsidiaries. We have updated below those companies listed as being in administration with Zolfo Cooper.
The Administrator Zolfo Cooper has provided a series of FAQ for worried leaseholders including:
What exactly is in administration?
A: The following holding companies are in administration: Peverel Group Limited, Peverel Limited, Aztec Opco Developments Limited and Aztec Acquisitions Limited. The group’s operating companies, which are all the businesses within Peverel Property Management, Peverel Retirement Division and Peverel Building Technologies are unaffected by the administration. Therefore, all services for residents, customers and landlords will continue to be provided as normal.
Peverel have also provided a Peverel statement which again confirms the operating companies are not affected.
However, it should be noted from the accounts that the holding companies also trade as part of the overall group. Companies like Peverel Limited state they have 142 direct emplyees. The accounts also indicate that some of the directors emoluments for the operating companies were paid from the holding company Peverel Ltd.
March 2011 updateSeveral of Tchenguiz group companies’ have now filed their 2009 accounts and the results seem to fall into three categories.
- Companies indicating they are now owned by companies held by the Receiver Grant Thornton as at 16th Feb 2009.
- Companies which reference actual or potential higher interest payments on a “cross collateralised borrowings, totalling £116,000,000” following the termination of fixed interest debt. The FT reported in January on Meryll Lynch's proposed debt for equity swap with Peverel linked to what they stated was a “£100m of debt behind Peverel” .
- Companies in the group showing no change.
A recent article in the Guardian looks into the current changes. Tchenguiz Structure.
Group 1: Example of 2009 Accounts showing assets held by the receiver
Examples of references to this issue are included in accounts for Fairhold Holdings, Fairhold holdings 2008 (Q1), Fairhold Holdings (2003), Fairhold Athena, Fairhold Holdings No.4 (RPI), Fairhold Holdings (2005). Taking the latter as an example of what appears to be standard wording. On page 10 of the Fairhold Holdings (2005) 2009 accounts under the section on “going concern” it states that:
“On 31st March 2008 the shares in the company's own shareholders were pledged as security against the financial liability of a related party, Oscattelo Investments Ltd.”
Note: The shares in the company’s own shareholders is taken to mean it's parent company which owns a number of other group companies such as those mentioned above.
Oscatello Investments is a BVI based company See Guardian article published in 2009.
“These liabilities were called on 10th December 2008 and on 16th February 2009 Grant Thornton UK LLP and Grant Thornton (British Virgin Islands) Limited were appointed as joint Law of Property Act receivers in respect of the pledged shares”.
Ref: Law of : Property Act
The paragraph goes on to state: should the shares held by the receiver be released this action would “constitute a change of control of the group and this would constitute an event of default in respect of the groups borrowings from its principle lender”.
The Guardian states in its article 13th Feb 2011 “According to court papers filed by TFT trustees” that “has already triggered various events of default”. The Guardian lists the main banks as: “Deutsche Bank, Bank of Scotland (now part of Lloyds Banking Group), Merrill Lynch, BayernLB and Allied Irish Banks (UK).”
Group 2: Companies referencing the £116,600,000 borrowings
Under note 1 (Going Concern) of their accounts Peverel Ltd state: “On 31st March 2008, shares in one of the companies intermediate offshore holding companies were pledged as security to secure the financial liabilities of a related party”
It goes on to state:
“On 10 December 2008, breaches occurred in the loan covenants of this related party. Negotiations are in hand regarding settlement of the related parties financial liabilities covered by the pledged security”
The accounts record: should the negotiations fail “the principle effects should are that the companies cross collateralised borrowings, totalling £116,600,000 at the year end, could become immediately payable together with additional costs of £15,842,934 which arose in respect of the termination of the interest rate agreements that fixed the interest rates on the loan”
In the Peverel accounts it also states. “Included in the amounts due from related parties is a subordinated loan of £595,516,279 (2008 £590,103,254) with is deemed to be interest free and repayable on demand, subject to the terms of the subordination deed. The latter states that no repayment of the subordinated loan may be made until the financing advanced to the related party group by third parties is repaid in full.”
Group 3: Companies in the group showing no change
Companies including Estates and Management and Interphone have no references the above issues. Others in the group include Aztec Property Topco.
Note 17 of Aztec Property Topco’s accounts states “As at December 2009 Aztec Property Topco Ltd and is subsidiaries owed Aztec Acquisitions Ltd or one of its subsidiaries £595,479,505 (2008 £591,958,792). This is interest free”
Why does it matter?
- One of the main reasons why leaseholders need to know about the structure of this group is to be aware if the managing agent is complying with regulation 7.4 of the RICS Service Charge Residential Management Code. This regulation obliges the managing agent to obtain at least two estimates for qualifying works "at least one of which must be from a firm wholly unconnected with you or the landlord". Clearly if leaseholders do not know which companies are related to a landlord or managing agent there is no way they can know if regulation 7.4 is being correctly applied.
- International Standard on Auditing (ISA) 550, “Related Parties” advises. That “the nature of related party relationships and transactions may, in some circumstances, give rise to higher risks of material misstatement of the financial statements” ISA 500 sets out three examples where “circumstances, give rise to higher risks of material misstatement of the financial statements than transactions with unrelated parties”
Related parties may operate through an extensive and complex range of relationships and structures, with a corresponding increase in the complexity of related party transactions.
Information systems may be ineffective at identifying or summarizing transactions and outstanding balances between an entity and its related parties.
Related party transactions may not be conducted under normal market terms and conditions; for example, some related party transactions may be conducted with no exchange of consideration.
The code goes on to state “In addition, an understanding of the entity’s related party relationships and transactions is relevant to the auditor’s evaluation of whether one or more fraud risk factors are present as required by ISA 240, because fraud may be more easily committed through related parties.”
The group complexity
Trying to understand the labyrinthine structure of the 380+ companies which sit below the six overall group companies which fall under the control of the Tchenguiz family trust is made more complicated due to the constantly changing nature of the business. To our understanding the group does not to publish an overall organisation chart. Any study of the group is made more difficult because:
(a) The names of key companies within the group have sometimes been changed.
Examples:
- Peverel OM Ltd changed their name to OM Property Management Ltd on 4th March 2010 [ii]. (line 37)
- Cirrus Careline Ltd changed their name to Carline UK Monitoring Ltd [iii] (line 38)
(b) Sometimes trade names rather than the name of the limited company to which the income accrues are used.
Examples
- OM Property Management Ltd also trade under the name 'Consort Property Management'. Their web sites states “Consort Property Management is a trading division of OM Property Management Limited. A Peverel Group company.”
- “Sonata Insurance Services Limited (line 229) trading as Kingsborough Insurance Services” [iv] (line 30)
(c) Sometimes trade names are used which are the same as or very similar to the names of other non trading subsidiaries within the group.
Examples
- Peverel Management Service Ltd (line 9) provides property management to the retirement element of the business. Their web site states “Peverel Management Services Limited trading as Peverel Retirement.”
At the same time on (line 48) Peverel Retirement Ltd last submitted accounts to Companies House stating that they were “accounts of a dormant company made up to 31/12/09”.
- The Peverel Group's web site refers to all the property management companies as being part of the “Peverel Property Management Group”.
At the same time Peverel Property Management Ltd (line 45) last submitted accounts to Companies House stating that they were “accounts of a dormant company made up to 31/12/09”.
NOTE: The accounts indicate that ownership of many of the property management groups sit under the group company Peverel Limited (line 8) which then sits under the control of Peverel Group Ltd ( (line 6).
(d) Movement of trading activities from one subsidiary within the group to another
Examples
- In April 2010 the sites managed by County Estate Management Ltd (line 231) were moved to related [v] property management companies within the group including 'Consort Property Management'.
- The Solitaire web site [vi] states “Solitaire Property Management We are shortly changing our name to OM Property Management” (line 231)
(e) The late provision of information to Companies House
Example
County Estate Management Ltd (line 231) accounts ending 31st December 2007 were not submitted until 1st March 2010. This is more concerning due to the contents of Note 1.1 [vii] to the accounts. The accounts are not qualified and the directors confirm that “No adjustments have been made to the financial statements that would be necessary were the going concern basis to be inappropriate.” However the same note also contains comments which included the following: “However, should there be a worsening of the company’s working capital requirement beyond what is currently envisaged as necessary the company may not have sufficient resources to continue in operational existence. In the opinion of the directors these factors amount to a material uncertainty that may cast doubt over the company’s ability to continue as a going concern.”
f) The use of the term “the Consensus Business Group”
The group often refers to itself as being part of the “Consensus Business Group”, for example on this link where a “Consensus” representative talked about ‘Peverel Retirement’.
The press continue to report Consensus as being a key company within the overall group. On 7th December 2010Moneylife reports “For Tchenguiz, environment is a property he can develop, trade and sell to companies and governments. Consensus spends more than £20 million a month on its environmental portfolio, which has more than 200 companies, joint ventures and funds”
On the Consensus Business Group web site the contact us page does not make clear whether this is Consensus Business Group Ltd site or if this site represents the interests of the various group companies as seems to be implied by the rest of the sites content.
Companies House records show the Consensus Business Group Ltd (line 242) [viii] has filed abbreviated small company accounts for a number of years. To do this a company must fall below certain thresholds including a turnover of less than£6.5 million. The 2010 accounts also show no fixed asset investments and no employees, a balance sheet total of (£89,999) [ix]
NOTE: No claim is made that there is anything wrong with the above practices. We state only as a matter of fact that such a structure has made examination a very complicated process. Even at the end of this analysis we are still unclear on the exact role and size of the “Consensus Business Group”.
Other web sites which may contain information about the Tchenguiz group
The Peverel Group are reported as controlling 85% the private retirement management sector. This sector has been the subject of an OFT investigation into exit fees and has been criticised by the lobby group CARLEX who have campaigned against both exit fees and the service charges levied by companies including 'Peverel Retirement'.
In the residential leasehold sector, web sites such as the truth about solitaire lobby against the quality of service and charges levied by Solitaire and other property management companies within the Peverel group. Given the imminent change in name from Solitaire to OM Property Management (see above) this lobby group is due to change its name also.
Listed below is the full listing of companies we believe fall within the group. Intermixed with the property management, ground rent and insurance companies are a whole series of headlease and freehold ownership companies.
Company structure of the residential and retirement part of the Tchenguiz group
There appear to be at least six companies which represent the ultimate ownership of the various operating subsidiaries. These six companies are believed to be registered offshore hence their accounts are not filed at Companies House and we cannot see directly who controls them. However a review of published accounts of a number of the UK based operating subsidiaries shows that ultimate control rests with the trustees of the Tchenguiz family trust.
It is believed that the six companies and their subsidiaries represent the mainly residential and retirement sectors plus other investment projects within the organisation. This part of the group is normally reported as being overseen by Vincent Tchenguiz.
1) Euro Investments Overseas Incorporated - registered in the British Virgin Islands(BVI) (line 2)
2) Aztec Opco (no.2) Limited. (line 215) [x]
3) Amora Limited (line 239)
4) Sunnymist Limited (line 249)
5) Euro Investments Inc (line 341)
6) Wiskay Limited (line 359)
Company Listing
key companies in the residential sector
key companies in the retirement sector
key companies working in both the retirement and residential sectors
1. TCHENGUIZ FAMILY TRUST
2. 1) EURO INVESTMENTS OVERSEAS INC VIRGIN ISL.
3. SILVERSILK INVESTMENTS LIMITED VIRGIN ISL
4. AZTEC OPCO DEVELOPMENTS LIMITED 14/3/11 reported as in ADMINISTRATION
5. AZTEC ACQUISITIONS LIMITED 14/3/11 reported as in ADMINISTRATION
6. PEVEREL GROUP LIMITED 14/3/11 reported as in ADMINISTRATION
7. EMPLOYCASTLE LIMITED
8. PEVEREL LIMITED 14/3/11 reported as in ADMINISTRATION
9. PEVEREL MANAGEMENT SERVICES LIMITED (trading as Peverel Retirement)
10. BALFOUR HOMES MANAGEMENT LIMITED
11. PEMBERTONS RESIDENTIAL LIMITED
12. KING GEORGE COURT MANAGEMENT LIMITED
13. RENAISSANCE MANAGEMENT SERVICES LIMITED
14. PEVEREL SCOTLAND LIMITED
15. RETIREMENT HOMESEARCH LIMITED
16. PEMBERTONS MAINTENANCE TRUSTEES (ALDFORD HOUSE) LIMITED
17. CAVENDISH MANAGEMENT (NORWICH) LIMITED
18. MERIDIAN RETIREMENT HOUSING SERVICES LIMITED
19. MERIDIAN PROPERTY GROUP LIMITED
20. MERIDIAN RETIREMENT HOMES LIMITED
21. RETIREMENT CARE (SOUTHERN) LIMITED
22. R.C. (HOLDINGS) LIMITED
23. PEVEREL BUILDING TECHNOLOGIES LIMITED
24. PEVEREL REAL ESTATE LIMITED
25. EDGEWOOD RETIREMENT DEVELOPMENTS LIMITED
26. RETIREMENT CARE LIMITED
27. FERNDALE RETIREMENT MANAGEMENT LIMITED
28. BROOK FARM COURT MANAGEMENT LIMITED
29. RETIREMENT MARKETING SERVICES LIMITED
30. KINGSBOROUGH INSURANCE SERVICES LIMITED
31. PEVEREL GENERAL CP LIMITED
32. FLATLAUNCH LIMITED
33. PEVEREL OPERATIONS PD LIMITED
34. PEVEREL HMF LIMITED
35. MERIDIAN NEW HOMES LIMITED
36. OM NOMINEE SERVICES LIMITED
37. OM PROPERTY MANAGEMENT LIMITED(Also trades as Consort Property Mgmt)
38. CARELINE UK MONITORING LIMITED
39. CIRRUS COMMUNICATION SYSTEMS LIMITED
40. PEVEREL CIRRUS LIMITED
41. INSTANT FIRE PROTECTION LIMITED
42. PEVEREL FREEHOLDS NO.2 LIMITED
43. PEVEREL INVESTMENT PROPERTIES LIMITED
44. MACLAREN MANAGEMENT SERVICES LIMITED
45. PEVEREL PROPERTY MANAGEMENT LIMITED
46. PEVEREL PROPERTY SERVICES LIMITED
47. PEGASUS COURT CHELTENHAM (MANAGEMENT) LIMITED
48. PEVEREL RETIREMENT LIMITED (last accounts show it as a dormant company)
49. SOLITAIRE PROPERTY MANAGEMENT COMPANY LIMITED
50. PEGASUS COURT (BOURTON-ON-THE-WATER) MANAGEMENT LIMITED
51. PEGASUS COURT (BARNWOOD) MANAGEMENT LIMITED
52. PEGASUS COURT (FLEET) MANAGEMENT LIMITED
53. PEGASUS COURT (BROADWAY) MANAGEMENT LIMITED
54. PEGASUS COURT (PAIGNTON) MANAGEMENT LIMITED
55. PEGASUS COURT MANAGEMENT LIMITED
56. PEGASUS THAMESNORTH MANAGEMENT LIMITED
57. ADVENTINO LIMITED VIRGIN ISL
58. FAIRHOLD HOLDINGS NO.3 (RPI) LIMITED
59. BRADPASS LIMITED
60. FAIRHOLD HOLDINGS NO. 3 (APPTS) LIMITED
61. RQ BLOCKS E AND F LIMITED
62. FAIRHOLD HOLDINGS NO. 3 (HOUSES) LIMITED
63. CANARY SOUTH (GROUND RENTS) LIMITED
64. HOUSE FREEHOLDS LIMITED
65. FREEHOLD PROPERTIES 28 LIMITED
66. FREEHOLD PROPERTIES 30 LIMITED
67. AVONBRAID LIMITED
68. FELLWAY LIMITED
69. ALTRACIA LTD VIRGIN ISL
70. IRONHOME LIMITED
71. CHALENTINA LIMITED VIRGIN ISL
72. FAIRHOLD HOMES INVESTMENT (NO.13) LIMITED
73. FAIRHOLD HOMES (NO. 16) LIMITED
74. LITTONACE (NO. 11) LIMITED
75. CLASSIRA LIMITED VIRGIN ISL
76. FAIRHOLD HOLDINGS (2008 Q4A) LIMITED
77. CORALWAY PROPERTIES LIMITED VIRGIN ISL
78. FAIRHOLD HOMES INVESTMENT (NO.16) AL LIMITED
79. FAIRHOLD HOMES (NO. 19) LIMITED
80. DIORAMA INVESTMENTS LIMITED VIRGIN ISL
81. FAIRHOLD HOMES INVESTMENT (NO.17) LIMITED
82. LITTONACE (NO. 14) LIMITED
83. FAIRHOLD HOMES (NO. 20) LIMITED
84. EVANELLE LTD VIRGIN ISL
85. LINECROFT LIMITED
86. FAIRHOLD FINANCE HOLDINGS LIMITED VIRGIN ISL
87. FAIRHOLD FINANCE LIMITED
88. FAIRHOLD HOMES (NO.6) LIMITED
89. FAIRHOLD HOMES (NO.7) LIMITED
90. FAIRHOLD HOMES (NO.8) LIMITED
91. FAIRHOLD HOMES (NO.9) LIMITED
92. FAIRHOLD HOMES (NO.3) LIMITED
93. MEDIABASIC LIMITED
94. FAIRHOLD HOMES (NO. 13) LIMITED
95. LITTONACE (NO. 10) LIMITED
96. LITTONACE (NO.8) LIMITED
97. FAIRHOLD HOMES (NO.5) LIMITED
98. FAIRHOLD HAVEN LIMITED
99. FAIRHOLD HOMES (NO.10) LIMITED
100. FAIRHOLD HOMES (NO.11) LIMITED
101. FAIRHOLD HOMES (NO. 14) LIMITED
102. LITTONACE (NO.2) LIMITED
103. FAIRHOLD HOMES INVESTMENT (NO.5) LIMITED
104. FAIRHOLD HOMES INVESTMENT (NO.6) LIMITED
105. LITTONACE (NO.5) LIMITED
106. FAIRHOLD HOMES (NO. 15) LIMITED
107. FAIRHOLD HOMES INVESTMENT (NO. 7) LIMITED
108. FAIRHOLD HOMES INVESTMENT (NO.8) LIMITED
109. LITTONACE (NO. 7) LIMITED
110. LITTONACE HMF LIMITED
111. FAIRHOLD HOMES INVESTMENT (NO.11) LIMITED
112. LITTONACE (NO.9) LIMITED
113. FAIRHOLD HOMES INVESTMENT (NO.12) LIMITED
114. LITTONACE HMF NO.2 LIMITED
115. FAIRHOLD HOMES (NO.4) LIMITED
116. FAIRHOLD HOMES INVESTMENT (NO.2) LIMITED
117. FAIRHOLD HOMES INVESTMENT (NO.3) LIMITED
118. LITTONACE (NO.3) LIMITED
119. LITTONACE (NO.4) LIMITED
120. LITTONACE (NO. 6) LIMITED
121. FAIRHOLD PROPERTIES NO. 6 LIMITED
122. FRANTINO LIMITED VIRGIN ISL
123. FAIRHOLD HOLDINGS (2006) RPI LIMITED
124. DENTBERG LIMITED
125. FAIRHOLD HOLDINGS (2006) HOUSES LIMITED
126. CAMPBACK LIMITED
127. GOLDEN MIST LIMITED VIRGIN ISL
128. FREDDIE 2009 LIMITED
129. FAIRHOLD HOLDINGS (2006) APPTS LTD
130. FAIRHOLD (YORKSHIRE) LIMITED
131. GROUND RENT GROUP LIMITED
132. FAIRHOLD KEW LIMITED
133. WENGHOLD LIMITED
134. ACTIONLEAGUE LIMITED
135. AURO PROPERTIES LIMITED
136. FAIRHOLD NW LIMITED
137. LABYRINTH ESTATES LIMITED
138. GOLDEN TRUST LTD VIRGIN ISL
139. JASMINA HOLDINGS LIMITED VIRGIN ISL
140. FAIRHOLD HOMES INVESTMENT (NO. 14) LIMITED
141. FAIRHOLD HOMES (NO. 17) LIMITED
142. LITTONACE (NO. 12) LIMITED
143. MOORMEAD PROPERTY HOLDINGS LTD BAHAMAS
144. FAIRHOLD HOLDINGS LIMITED
145. OWNERS PROVIDENT LIMITED
146. FAIRHOLD LIMITED
147. DEWGIFT LIMITED
148. TYRECARD LIMITED
149. DEVON CHALETS LIMITED
150. SIDEWALK PROPERTIES LIMITED
151. TILEBOURNE LIMITED
152. BACKDEAN LIMITED
153. BACKLANE LIMITED
154. BACKREED LIMITED
155. BACKRISE LIMITED
156. LEVELBASIC LIMITED
157. OWNERS PROVIDENT LAND BANK LIMITED
158. REALGATE LIMITED
159. LYLEBOURNE LIMITED
160. DENETOWER LIMITED
161. DENETOWER INVESTMENT PROPERTIES LIMITED
162. ATTIC PROPERTIES LIMITED
163. FAIRHOLD SERVICES LIMITED
164. ESTATES & MANAGEMENT LIMITED
165. OP LAND (NO.1) LIMITED
166. LINKSTAFF LIMITED
167. ROCK ACQUISITIONS I LIMITED
168. PEVEREL LTC LIMITED
169. CONSENSUS BUSINESS GROUP (GROUND RENTS) LIMITED
170. PAMBRI INVESTMENTS VIRGIN ISL
171. FAIRHOLD HOLDINGS (2003) LIMITED
172. DAWNHOME LIMITED
173. FAIRHOLD (BRIARDENE) LIMITED
174. LONDON & SUBURBAN PROPERTY CO LIMITED
175. PIERVALLEY LIMITED
176. THE RESIDENTIAL ORGANISATION LIMITED
177. BACKGLAZE LIMITED
178. BACKGREEN LIMITED
179. BACKGAIN LIMITED
180. BACKFIELD (2003) LIMITED
181. BROOKRACE LIMITED
182. PROPERTIES LIMITED VILLAMORA VIRGIN ISL
183. FAIRHOLD HOLDINGS (2005) LIMITED
184. CHARTER QUAY LIMITED
185. ST GEORGE WHARF (BLOCK D) RESIDENTIAL LIMITED
186. RQ BLOCK D LIMITED
187. RQ BLOCK G LIMITED
188. FAIRHOLD CLERKENWELL LIMITED
189. HOME HAVEN LIMITED
190. HEADBOOK LIMITED
191. GRADEBAND LIMITED
192. ZINDELLA LIMITED VIRGIN ISL
193. FAIRHOLD HOLDINGS (2008 Q3) LIMITED
194. ROWAN FINANCE LTD
195. FAIRHOLD HOLDINGS (2007 Q4) LIMITED
196. FAIRHOLD ATHENA LIMITED
197. FAIRHOLD PROPERTIES NO. 7 LIMITED
198. TRINITY GREEN REVERSION LIMITED
199. FAIRHOLD HOLDINGS (2008 Q1) LIMITED
200. ROSLEB LIMITED
201. CITISTEAD LIMITED
202. CHICHESTER FREEHOLDS LIMITED
203. FREEHOLD PROPERTIES 32 LIMITED
204. HADHAM SECURITIES NO.6 LIMITED
205. FLAMBAYOR LIMITED
206. FAIRHOLD PROPERTIES NO. 4 LIMITED
207. FAIRHOLD PROPERTIES NO. 5 LIMITED
208. FAIRHOLD HOLDINGS (2008 Q2) LIMITED
209. SENDTOUR LIMITED
210. KAMARIO LIMITED
211. THEOWAL LIMITED
212. FAIRHOLD APOLLO LIMITED
213. FAIRHOLD ARTEMIS LIMITED
214. FAIRHOLD ATLAS LIMITED
215. 2) AZTEC OPCO (NO.2) LIMITED
216. PEVEREL CBG OPCO LIMITED
217. ROADWEALD LIMITED
218. INTERPHONE SECURITY GROUP LIMITED
219. INTERPHONE (CCTV) LIMITED
220. INTERPHONE LIMITED
221. INTERPHONE (SM) LIMITED
222. INTERPHONE (DIGITAL) LIMITED
223. INTERPHONE (SENTRYMATIC) LIMITED
224. INTERPHONE (BIRMINGHAM) LIMITED
225. INTERPHONE (IBEX) LIMITED
226. MINT PROPERTY MANAGEMENT LIMITED
227. PEVEREL CBG SHELTERED LIMITED
228. INTERPHONE FINANCE COMPANY LIMITED
229. SONATA INSURANCE SERVICES LIMITED
230. SONATA GROUP LIMITED
231. COUNTY ESTATE MANAGEMENT LIMITED
232. COUNTY ESTATE RESIDENTIAL MANAGEMENT LIMITED
233. STONEDALE PROPERTY MANAGEMENT LIMITED
234. COUNTY ESTATE MANAGEMENT SECRETARIAL SERVICES LIMITED
235. COUNTY ESTATE DIRECTORS SERVICES LIMITED
236. SONATA NOMINEE LIMITED
237. PEMBERTONS SECRETARIES LIMITED
238. SONATA PRS LIMITED
239. 3) AMORA LIMITED
240. CIANO INVESTMENTS LTD
241. ROTCH LIMITED
242. CONSENSUS BUSINESS GROUP LIMITED
243. SOFTVALLEY LIMITED
244. VINCOS LIMITED
245. WALKVALLEY LIMITED
246. CONSENSUS INTRODUCERS LIMITED
247. VINEGROVE INVESTMENTS LIMITED
248. ARKMILE LIMITED
249. 4) SUNNYMIST LIMITED
250. FIVE MILE LIMITED
251. BROOKRAIN LIMITED
252. GREENFLAT LIMITED
253. COURTDOCK LIMITED
254. POSTLANE LIMITED
255. RAINWEALD LIMITED
256. DAYVALLEY LIMITED
257. BANKMEAD LIMITED
258. DAWNREAD LIMITED
259. WEALDMIST LIMITED
260. DOVEDREAM LIMITED
261. MILETOWER LIMITED
262. BIRCHLAKE LIMITED
263. DOMECROFT LIMITED
264. CARPENTER (BATH) LIMITED
265. LANEMORE LIMITED
266. WALLMANOR LIMITED
267. CHARMGLADE LIMITED
268. FOLDLANE LIMITED
269. CITY & COUNTY (BATH) LIMITED
270. LOGWAYS LIMITED
271. RESTMEAD LIMITED
272. DOVEWEALD LIMITED
273. STOREDEAN LIMITED
274. DALEFOX LIMITED
275. ZENMOUTH LIMITED
276. UPPERBRIGHT LIMITED
277. LEAGUEFRAME LIMITED
278. MARTRIDGE LIMITED
279. WAXFORD LIMITED
280. H.A.LEASING LIMITED
281. RESTGROVE LIMITED
282. HOLAW (573) LIMITED
283. FILMCOURT LIMITED
284. VIEWPALM LIMITED
285. TIMECOAST LIMITED
286. PIKEHIGH LIMITED
287. HOLAW (537) LIMITED
288. HOLAW (541) LIMITED
289. HOLAW (539) LIMITED
290. DRIVEWALL LIMITED
291. LIMITED
292. GAINWALK LIMITED
293. PATHCOAST LIMITED
294. RIO MONDE LIMITED
295. STARLAKE LIMITED
296. TAMEVALE LIMITED
297. WOOLGATE EXCHANGE LIMITED
298. VIN-ROTCH PROPERTIES LIMITED INC
299. BARTONPATH LIMITED
300. HIGHREAD LIMITED
301. CROXCOURT LIMITED
302. ROCK DOVE LTD
303. ROTCH PROPERTY GROUP LIMITED
304. CAVENDISH SQUARE PROPERTY FINANCE LIMITED
305. SECCOM LIMITED
306. STEPEND LIMITED
307. HERBFRAME LIMITED
308. HOLAW (323) LIMITED
309. HOLAW (339) LIMITED
310. HOLAW (401) LIMITED
311. BPAR LIMITED
312. MISTLAND LIMITED
313. FROSTLANE LIMITED
314. ABBEYRATE LIMITED
315. MIREL-ROTCH INVESTMENTS LIMITED
316. ROCKLANE LIMITED
317. ROTCH PROPERTIES LIMITED
318. WYN-RO PROPERTY INVESTMENTS (SEA CONTAINERS HOUSE) LIMITED
319. SOWCREST LIMITED
320. PRIME ESTATES HOLDINGS LIMITED
321. PRIME ESTATES PROPERTY MANAGEMENT LIMITED
322. SAGEHILL LIMITED
323. UNI LEASE NO 1 LIMITED
324. WYN-RO DEVELOPMENTS LIMITED
325. PARK ROAD (MEDICAL CENTRE) LIMITED
326. HOLAW (403) LIMITED
327. ROVELLS LIMITED
328. HOLAW (429) LIMITED
329. HOLAW (434) LIMITED
330. BARTONMOSS LIMITED
331. ROTCH 18 (WELWYN) LIMITED
332. BOXCREST LIMITED
333. HOLAW (587) LIMITED
334. FORDMANOR LIMITED
335. VALLEYMILE LIMITED
336. ECG (CAPITAL) LIMITED
337. LEAFVIEW LIMITED
338. CHOICECOURT LIMITED
339. PLACEMANOR LIMITED
340. WOODMILE LIMITED
341. 5) EURO INVESTMENTS INC
342. CLAUDINA ENTERPRISES LIMITED
343. MEADSAND LIMITED
344. HOLDING & MANAGEMENT (SOLITAIRE) LIMITED
345. SOLITAIRE REAL ESTATE HOLDINGS LIMITED
346. SOLITAIRE GROUP LIMITED
347. ADENSOUTH LIMITED
348. REDHOUSE INVESTMENT PROPERTIES LIMITED
349. FREEHOLD MANAGERS PLC
350. MORBURY LIMITED
351. PEMBERTONS DIRECTORS LIMITED
352. PROPERTY INVESTMENT PORTFOLIO SERVICES LIMITED
353. SOLITAIRE HOLDINGS LIMITED
354. MOSS KAYE PEMBERTONS LIMITED
355. SOLITAIRE RESIDENTIAL HOLDINGS LIMITED
356. MOSS KAYE LIMITED
357. SOLITAIRE RESIDENTIAL LIMITED
358. VICTORIA INVESTMENTS NO.2 LIMITED
359. 6) WISKAY LIMITED
360. AZTEC PROPERTY TOPCO LIMITED
361. PEVEREL PROPERTY OWNERSHIP LIMITED RENAMEDAZTEC PROPERTY OWNERSHIP LTD 1/3/11 NOW PROXIMA
362. RETIREMENT CARE (BH) LIMITED
363. MERIDIAN LAND & INVESTMENTS LIMITED
364. LINCOURT MANAGEMENT SERVICES LIMITED
365. RETIREMENT CARE (MIDLANDS) LIMITED
366. PEVEREL FREEHOLD REVERSIONS LIMITED RENAMEDAZTEC FREEHOLD REVERSIONS LTD 9/3/11 NOW PROXIMA
367. PEVEREL INVESTMENTS RENAMEDAZTEC INVESTMENTS LTD 9/3/11 NOW PROXIMA
368. PEVEREL PROPERTY INVESTMENTS LIMITED RENAMEDAZTEC PROPERTY INVESTMENTS LTD 9/3/11
369. BALFOUR FREEHOLDS LIMITED
370. O.M. LIMITED
371. PEVEREL PROPERTIES LIMITED RENAMED AZTEC THEM TO PROXIMA GR PROPERTIES LTD24/3/11
372. TOR SANDS FREEHOLD LIMITED
373. PEVEREL SECURITISATION LIMITED RENAMEDAZTEC SECURITISATION LTD 9/3/11 NOW PROXIMA SECURITISATION
374. PEVEREL OPTIONHOLDER LIMITED RENAMEDAZTEC OPTIONHOLDER LTD 9/3/11 NOW PROXIMA OPTIONHOLDER
375. MILFORD HOLDINGS LIMITED
376. PEVEREL FREEHOLDS LIMITED RENAMEDAZTEC FREEHOLDS LTD 9/3/11 NOW PROXIMA FREEHOLDS
377. RENAISSANCE SECURITIES LIMITED
378. RETIREMENT CARE (SOUTHERN) INVESTMENTS LIMITED
379. 1a) FERZELLA INVESTMENTS LIMITED VIRGIN ISL
380. FAIRHOLD HOLDINGS NO.4 (RPI) LIMITED
381. DANECARR LIMITED
382. FAIRHOLD HOLDINGS NO.4 (HOUSES) LIMITED
383. LYLECRAFT LIMITED
384. FAIRHOLD HOLDINGS NO.4 (APPTS) LIMITED
385. ROWAN LAND LTD
386. REVERSIONS LIMITED
387. CG THREE LIMITED
388. FREEHOLD PROPERTIES 25 LIMITED
389. FREEHOLD PROPERTIES 26 LIMITED
390. BRADMOSS LIMITED
391. HADHAM SECURITIES 4 LIMITED
Companies omitted from this listing
This report has not attempted to detail the pub/restaurant part of the group which may have been as large as the residential/retirement sector in the past. This side of the organisation appears to have been subject to considerable restructuring, as reported in the press. The role of Robert Tchenguiz is also mentioned in the official report into the Icelandic bank crisis investigation [xii].
Disclaimer
A draft of this document has been submitted to a senior director within the group for review. He has declined to comment or advise of any errors. Best efforts have been made to check the accuracy of the company listings however there may be omissions and errors and there will inevitably be changes over time. As at 3rd March 2011 the names listed are believed to be accurate as reported in the above mentioned sources. Should there be any errors we are more than happy to make corrections.
The hierarchy of companies listed reflects that provided in various companysearchesmadesimple reports. Whilst the names in the listings are correct there seem to be some anomalies in the placement of individual companies and their immediate parent companies in this complex group structure. For example Careline UK Monitoring Ltd is shown under OM Property Management but the shareholding states ownership by Peverel Building Technologies Ltd. Given the constantly changing nature of the group and its different reporting dates it was felt better to list the companies’ structure as reported rather than to attempt to reinterpret. These anomalies have no impact on the ultimate overall ownership and control.
Endnotes
[i].Some accounts e.g. Estates and Management Ltd, accounts for 2007, note 15, page 12 also include the statement that control on behalf of the trust is via the Investec Trust (Guernsey) Ltd.
[ii] Companies House Records
[iii] Careline UK Monitoring Ltd, accounts to 31/12/2009.
[iv] County Estate Management2/2/11 CEM web site
[v] Although the structure diagram shows no direct link between County Estate Management Ltd and OM Property Management Ltd, the published accounts for OM Property Management Ltd to 31/12/2009, note 18, deems County Estate Management Ltd to be a related party due to “a common ultimate parent undertaking and part common Directors”.
[vi] Solitaire web site 3/1/2011 states the name change will occur on the 6th January 2011
[vii] Page 7 of the published accounts and the same statement in the 2008 accounts also published 1st March 2010
[viii] Consensus Business Group Ltd, accounts for 2009, cashflow statement page 6, and ultimate ownership and control details note 12 page 9.
[ix] Consensus Business Group Ltd accounts to 31st May 2010, note 7 investments, page 5 balance sheet and note 5 employees.
[x] E.g. County Estate Management Ltd, accounts for 2008, note 16, page 12.
[xi] See Consensus Web site for their statement on work in the sheltered housing and student accommodation market.
[xii] Report of the Icelandic Special Investigation Commission (SIC), page 8, chapter 21. Also Chapter 2 the executive summary last para page 2.
