Up to 15th from 17th Roy Richardson & family £380m (£350m)

Rich List 2011 Jan 23 2011

The Territorial Army is one of the latest organisations to benefit from projects by Oldbury-based Richardson Developments. The TA has just marched into a new headquarters and training centre as part of the regeneration of the Lowesmoor area of Worcester.

The new HQ forms part of a £75 million Carillion Richardson scheme which includes retail outlets and a new multi-storey car park.

The company was founded by the Black Country’s most famous twins – Roy and the late Don Richardson – and is now looked after by sons Lee, Carl and Martyn Richardson.

They believe in thinking global. The Oldbury-based developer has just opened another retail outlet in mainland Europe, and now has developments across 10 European countries.

The latest to open its doors is in Salzburg in Austria. It’s the second project in Austria developed by Richardsons and McArthur Glen. The new mall close to Salzburg city centre and the airport has been designed along the lines of a 1920s shopping arcade with an interior mall and circular galleries on two levels. It has 140 stores including Hugo Boss and Calvin Klein.

Don Richardson died in September 2007, aged 77, bringing an end to the legendary partnership of Don and his younger twin Roy Richardson – now 81 -who founded the hugely successful Richardson Group of companies.

Despite expansion across the world, the Richardson twins will be best remembered for one of their earliest and biggest regeneration developments on their own doorstep – the transformation of the 300 acre former Round Oak Steelworks into the Merry Hill Shopping Centre. This development is one of the biggest retail centres in Europe.

European activities alone – Richardsons is active in Italy, Holland, Germany, Austria and Hungary to name but a few – add up to an impressive property portfolio. The main Richardson company – Swiftfire – has been affected by the downturn in property values and has seen a fall in profits. However the company has net assets worth more than £142 million.

The company is expanding into North America with a £50 million joint venture deal with locally-based Carillion Plc to develop prime sites in the fast expanding Greater Toronto area of Canada.

The company has also taken a 50 per cent stake in a £600 million new town project which will resurrect the site of Scotland’s iconic Ravenscraig steelworks. Another Scottish development – in association with Carillion –is a retail park on the site of the former truck plant in Bathgate.

The Richardson Brothers Foundation was established in 2006 to help less fortunate members of society, and has helped many organisations, particularly the young requiring skills to get into employment, ex-servicemen and women, and sick children.

The family has significant interests in other property and non-property related businesses.
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