- Tony Bliar's ideal of a meritocratic Britain (mL) - zani, 11.10.2003, 13:20
Tony Bliar's ideal of a meritocratic Britain (mL)
-->Landed gentry top property rich list
Boxer, teacher and porn king also have a bricks and mortar fortune
Mary O'Hara
Saturday October 11, 2003
The Guardian
Tony Blair's ideal of a meritocratic Britain seems less likely than ever after a new property rich list shows that it is aristocrats who are most likely to have cashed in on the country's favourite investment - property.
The first list of Britain's 200 wealthiest property moguls, published today in Estates Gazette, paints a picture of a great concentration of wealth in the hands of a few aristocrats, but also includes a colourful bunch of self-made millionaires.
Among them are a porn baron, Paul Raymond, an amateur erstwhile boxing champion, Andreas Panayiotou, and a former school teacher.
Just 4% of those in the top 200 are women. They include former maths teacher Judith Wilson from Ashford in Kent, who was named 84th most wealthy. Since Mrs Wilson gave up teaching in 1992 she has accrued more than 450 properties and a fortune estimated at £75m.
Among the most successful self-made men on the list is former bricklayer Trevor Hemmings, with a fortune of £700m. The 68-year-old owner of Blackpool Tower and Littlewoods Pools, which he bought in 2000, has been speculating on property since the mid-1970s and is the country's sixth richest investor.
Topping the table is the Duke of Westminster with an investment property portfolio of £5bn - one seventh of the total £35bn held collectively by the top 200. With an estimated property wealth of £2.1bn, the number two spot is occupied by the Reuben brothers, David and Simon, who made their fortune in the Russian aluminium industry before turning to property in the early 1990s. The former Labour Party headquarters, Millbank Tower, is part of their 100-building portfolio.
The remainder of the top five are aristocrats including the Earl of Cadogan and family in third place with £1.43bn.
Howard De Walden Estates (now in the hands of the late Lord Howard De Walden's four daughters) are in fourth place with £1.15bn, while Viscount Portman, based in Australia, is just behind with a portfolio worth £1.07bn.
<ul> ~ Landed gentry top property rich list</ul>

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