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| Eddie and Malcolm Healey |
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| RESULTS 2005 |
Ranking |
Worth |
Industry |
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21 |
£1,450m |
Property and kitchens |
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| We still list the Healey brothers together as they both started out in their father's Hull-based DIY business. Eddie, 66, made his fortune from property deals and has shown his confidence in the market with a number of recent trades, including selling the Parkgate shopping complex at Rotherham for £260m and buying the Newport retail park for £60m. He is also developing a leisure complex outside Newcastle upon Tyne, buying a Hull retail park for £30m and working with Dave Whelan (qv) of JJB Sports in launching Soccer Domes, combined football-based leisure and retail ventures. Eddie may be a god in the property world, but he shuns the limelight. With fellow developer Paul Sykes (qv) he turned a derelict site outside Sheffield on the M1 into one of Britain's most valuable out-of-town retail centres. The £1.17 billion sale of the Meadowhall shopping centre in 1999 netted Eddie about £420m for his 60% stake (taking account of £470m debt in the sale price). As he has reinvested some of the Meadowhall proceeds and stripped out the Parkgate sale, we can see nearly £100m of net assets in half a dozen separate Healey family companies, including Stadium Holdings. In all, allowing for double counting on our part, Eddie should be worth £750m. Younger brother Malcolm, 60, built up and later sold the Hygena Kitchens business, netting £200m in 1987. He went to America and repeated the trick there, selling up for £800m. He has returned to Britain and now lives on a huge Yorkshire estate he acquired for about £40m. Despite one or two problems with further investments in kitchens, Malcolm is worth about £700m as shares in the Masco Corporation, the company that bought his American venture, have risen sharply and Healey took at least some of his proceeds in shares. Together the Healeys are worth £1,450m. |
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| RESULTS 2004 |
Ranking |
18 |
Worth |
2004: £1,350m |
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