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MEPC plc

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MEPC
Company typePrivate
IndustryProperty
Founded1946
HeadquartersLondon, UK
Key people
Chris Taylor, Chairman
Rick de Blaby, CEO
ProductsBusiness Parks
Websitewww.mepc.com

MEPC is a leading British-based property investment and development business. It is headquartered in London. It used to be listed on the London Stock Exchange and was once a constituent of the FTSE 100 Index. It is however now owned by the British Telecom Pension Fund. The British Telecom Pension Scheme (BTPS) is the largest defined benefit pension scheme in the UK, with £37bn in assets as at September 2007. Their investment in MEPC is managed by Hermes Real Estate Investment Management Limited, which is also owned by BTPS. The Chief Executive of Hermes Real Estate Investment Management, Chris Taylor, is also Chairman of MEPC Limited.[1]

History

The business was founded by Claude Moss Leigh in 1946 as the Metropolitan Estates & Property Corporation.[2] Having started as a property investment business it diversified into the development of shopping malls in the 1970s.[3] It adopted the shortened name of MEPC in 1973. In 1987 it acquired the Oldham Estate.[4]

In 2000 the Company was acquired by Leconport Estates, a joint venture between the British Telecom Pension Fund and GE Capital. In 2003 GE Capital sold its investment to the British Telecom Pension Fund.[5]

Operations

The Group now focuses its activities on operating eight business and science parks across the uk, with parks in the following locations:[6]

Birchwood Park - A 123 acre mixed use business park located near Warrington in the North West of the UK.

Milton Park - A business and science park located just outside Oxford near the town of Abingdon.

Clyde Gateway East - A business and industrial estate located to the East of Glasgow

Chineham Park - A 95 acre mixed-use business park in Basingstoke, Hampshire.

Hillinton Park - One of Scotlands' largest industrial estate and business parks, located in Glasgow.

Wellington Place - A business park located in the city centre of Leeds.

Leavesden Park - A business park located close to the famous Leavesden film studios on the outskirts of Watford.

Silverstone - A business park located on development land surrounding the historic Silverstone racing circuit, Northampton. [7]

References

  1. ^ MEPC ownership
  2. ^ Regen.net: Money List 2008
  3. ^ General Growth to buy eight shopping centres from MEPC New York Times, 22 April 1998
  4. ^ BT Pensioners buy Centrepoint BBC News, 1 June 2000
  5. ^ Harrold heralds start of new era at MEPC: Hermes man outlines new business plan for developer Property Week, 24 October 2003
  6. ^ MEPC plc: Locations
  7. ^ MEPC acquires Silverstone Business Park Site


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