Elliott Bernerd

Elliott Bernerd
Born (1945-05-23) 23 May 1945 (age 79)
Maida Vale, London, England
Occupationproperty developer
Spouse3 ex-wives
Children2

Elliott Bernerd (born 23 May 1945) is a British property developer, the co-founder of the property company Chelsfield with Sir Stuart Lipton.[1]

Early life

He was born in Maida Vale, London on 23 May 1945,[2] the only child of a film producer father. His parents divorced when he was 7.[3][4] He was educated at various schools, leaving Davies Tutorial College, Holland Park, at the age of 15.[4]

Career

Aged 15, Bernerd went to work for Dorrington Investment Trust, with his heart "set on a career in property".[4]

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).[5] In 1986, he co-founded Chelsfield, which, in 1988, bought Wentworth Golf Club for £17.7 million[5] (also reported as £20 million).[4][6] Bernerd sold 40% of the club to Japanese investors, raising £32 million, in 1989.[5] In 2004, Chelsfield sold the remaining 60% share, as Richard Caring bought the club for £130 million.[7]

In 1993, Chelsfield acquired the Merry Hill Shopping Centre project, putting up £35 million, alongside £120 million from a group of Saudi Arabian investors (from whom Bernerd received a £6 million finder's fee). Chelsfield later bought out the Saudi investors.[5] By 2004, Merry Hill's value was close to £2 billion.[2]

In 2008, the Qatar Investment Authority purchased a 20% stake in Bernerd's property group, Chelsfield, which owned London's Camden Market.[8][9]

According to Institutional Investor, 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.[10]

Personal life

He had two adult daughters with his ex-wife, from whom he was divorced sometime before 1992.[4] His daughter Tara Bernerd is a London-based interior designer.[11][12][13]

In 1993, Bernerd was living in Surrey, with his third wife.[14]

References

  1. ^ "Genr8 Chelsfield Partners". Archived from the original on 2016-10-06. Retrieved 2016-10-06.
  2. ^ a b Mathiason, Nick (19 September 2004). "Great survivor faces threat of demolition". Observer. Retrieved 5 March 2021.
  3. ^ "Elliott Bernerd - Personal Appointments (free information from Companies House)".
  4. ^ a b c d e Bevan, Judi (1 March 1992). "UK: Profile - Elliott Bernerd - Property Dealer and Head of Chelsfield". Management Today. Retrieved 6 October 2016.
  5. ^ a b c d "Chelsfield PLC History". Funding Universe. Retrieved 5 March 2021.
  6. ^ Tomkinson, Martin (2011-10-22). "Profile: Just par for his course: For Elliott Bernerd, acquiring the Wentworth golf club marked another great round in a career of spectacular deals". The Independent. Retrieved 2021-02-18.
  7. ^ Subramanian, Samanth (2 March 2021). "The rich vs the very, very rich: the Wentworth golf club rebellion". Guardian. Retrieved 5 March 2021.
  8. ^ "Qataris buy 20 pct of UK property firm Chelsfield". Reuters. 28 September 2016.
  9. ^ "Elliott Bernerd kicks off takeover battle for Chelsfield". The Independent. 2013-10-15. Retrieved 2021-02-18.
  10. ^ Goodman, Leah McGrath. "The Heiress, the Queen, and the Trillion-Dollar Tax Shelter". Institutional Investor. Retrieved 21 March 2021.
  11. ^ "Tara Bernerd - House & Garden 100 Leading Interior Designers".
  12. ^ "Exclusive video feature: My Design London - Interior designer, Tara Bernerd". 15 April 2014.
  13. ^ Murison, Krissi. "Tara Bernerd interview: designer to the super-rich on modern luxe". The Times. ISSN 0140-0460. Retrieved 2020-11-27.
  14. ^ "Profile: An ear for music and an eye for a monument: Elliott Bernerd". Independent.co.uk. 5 December 1993.