WAN Awards

MONDAY 22 DECEMBER 2014

SEARCH   
 
 
WAN Mobile
 
WAN Mobile
Previous Next
 

Breaking news, London, United Kingdom

Monday 22 Jan 2007
 

Foster prepares “war chest”

 
Foster and Partners 51 Lime Street in London 
 
Your comments on this project

No. of Comments: 0

Add comments | More comments

Be the first to comment
 

Funding sought to finance major expansion 

Lord Foster of Thames-side has appointed bankers to examine the possible sale of part or all of his world-leading architectural practice. Foster and Partners, which was broken into six autonomous design groups two years ago is believed to need cash to realise its expansion plans. This includes increasing the number of offices from the current 13 to between 20 and 30. Speculation has put the practice's current value at £300m - £500m GBP. However city financial observers are casting doubt on this price as commercial property is thought to be at the top of its cycle and this is an area which the practice is heavily dependant on making it vulnerable. Foster, who is 71, is believed to have called in specialist corporate finance firm Catalyst Investment to review the funding requirements. In the last accounts filed at Companies House, for the year ended April 2005, the company revealed pre-tax profits of £2.5m on turnover of £44.5m. The London based practice has overseas offices in Beijing, Dubai, Istanbul and Kuala Lumpa which reflects the increasingly international mix of its business, during that year the company generated 12 per cent of its turnover from the US and 9 per cent from China. The bulk of the business, however, was still in the UK, which generated 43 per cent.

Key Facts

Status
Value 0(m€)
Were you involved in this scheme?
WAN Editorial

More projects by this architect

Holiday Reading

Millharbour Village

Guggenheim Helsinki Design Competition

Case Study: The Safety Letterbox Company

Mackintosh Building, Glasgow School of Art

More Projects

Latest Jobs in London

Project Coordinator

Senior Architect - Workplace

Architect - Historic Environment

Qualified Architect

Head of Programme: Architecture

All jobs in London

 
Vola
ECOWAN
 

Click here to view the NEWS IN PICTURES tablet site