Amshold Limited, the commercial property business owned by Lord Sugar and his two sons, has swung back to profit after a challenging period marked by falling property values.
The company reported a pre-tax profit of £932,000 for the year ending June, reversing a £29.1 million loss from the previous year.
The turnaround comes as the valuation of Amshold’s property portfolio showed signs of stabilisation. Between July 2023 and June 2024, the portfolio’s value dipped by £1.2 million to £85.7 million, a significant improvement compared to the £28.5 million decline experienced during the prior year due to rising interest rates and market uncertainties.
In its annual report, the company noted: “The market for quality London freehold investment property is difficult with high interest rates, uncertainty, and falling valuations. Although this provides opportunities for investment, it also puts pressure on the existing portfolio.”
Founded in 1985, Amshold Limited manages a diverse mix of commercial properties. Notable assets include a Premier Inn hotel in Brentwood, Essex, an Iceland supermarket in Leyton, East London, and a five-storey Grade II-listed office block on Fleet Street. The portfolio also features properties like a McDonald’s in Liverpool, a Tesco Express in Newport, and a Barclays Bank in Portsmouth.
Despite the current portfolio valuation of £85.7 million, the properties were originally acquired for £97.2 million, reflecting the broader challenges in the commercial property market over recent years.
Beyond property investments, 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, the 2013 winner of The Apprentice. Amshold also operates a small private jet charter 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 initial range of Sky television receivers and satellite dishes before being sold to the broadcaster for £125 million in 2007. Today, Lord Sugar is widely recognised as the host of the BBC reality series “The Apprentice“.
Amshold’s board comprises Lord Sugar, his sons Daniel and Simon, and long-term finance director Mike Ray. While the company distributed dividends of £390 million in 2021 and £90 million in 2022, no dividends have been declared in the past two years, indicating a focus on consolidating the business amid market fluctuations.
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Lord Sugar’s Amshold returns to profit as property valuations stabilise