Amshold Limited, the commercial property business owned by Lord Sugar and his two sons, has returned to profitability after a challenging period marked by falling property prices.
The company reported a pre-tax profit of £932,000 in the year ending June, reversing a loss of £29.1 million from the previous year.
The change comes as Amshold’s property valuations show signs of recovery. Between July 2023 and June 2024, the value of the portfolio fell by £1.2 million to £85.7 million, a significant improvement compared to the £28.5 million fall experienced the previous year due to rising interest rates and market uncertainty.
In its annual report, the firm noted: “London’s freehold investment property market is struggling with high interest rates, uncertainty, and falling valuations. While this provides investment opportunities, it puts pressure on existing portfolios.”
Established in 1985, Amshold Limited owns a diverse mix of commercial properties. Notable properties include a Premier Inn hotel in Brentwood, Essex, an Iceland supermarket in Leyton, East London, and a Grade II-listed five-storey office tower on Fleet Street. The portfolio also includes properties such as McDonald’s in Liverpool, Tesco Express in Newport, and Barclays Bank in Portsmouth.
Despite the current portfolio value of £85.7 million, the properties were originally acquired for £97.2 million, reflecting the wider challenges in the commercial property market in recent years.
Beyond property investment, Amshold offers additional services, including accounting and IT support. The company provided £30,000 worth of services to Dr Leah Limited, a chain of skin clinics founded by Leah Totton, who won The Apprentice in 2013. Amshold also has a small private jet charging business.
Lord Sugar, 77, founded Amstrad in 1968. The company gained fame for its audio equipment and the Amstrad CPC 464, one of the first home computers. Amstrad also produced the first range of Sky television receivers and satellite dishes before it was sold to the broadcaster for £125 million in 2007. Today, Lord Sugar is widely known as the host of the BBC reality series “The Apprentice”.
Amshold’s board is made up of Lord Sugar, his sons Daniel and Simon, and long-time finance director Mike Ray. While the company is distributing dividends of £390 million in 2021 and £90 million in 2022, no dividends have been declared in the past two years, reflecting a focus on strengthening the business amid volatile markets.
