Irish immigrants son retains place on Birmingham Post’s Rich List
The son of Irish immigrants from Mayo and Cavan has retained his prominent placing in a list of the Midlands’ wealthiest people.
Tony Gallagher was placed equal 11th in the Birmingham Post Rich List, the annual barometer of wealth in the region.
He moved up from 12th to 11th in the list of the region’s 50 wealthiest people, with his family’s fortune estimated to have increased from £450 million to £475 million since 2014.
Tony Gallagher is one of the sons of Irish construction entrepreneur JJ Gallagher, who left his home in Killasser, near Swinford, in County Mayo in the wake of World War Two and made Birmingham, and later Solihull, his home. He went on to build up a highly successful construction empire in his name.
The Birmingham Post said Tony Gallagher, like many in the Rich List, had benefitted from increases in the value of land banks as the property market recovers.
Through his Gallagher Estates and Gallagher Developments companies, Tony Gallagher has spent more than three decades accumulating land and property assets ranging from retail parks, housing plots and industrial sites.
The result is a vast land bank under development, with planning consent or as an investment. His companies own more than 35,000 building plots throughout the UK, as well as a large retail park investment portfolio.
These, combined with substantial cash resources and no borrowings saw Tony Gallagher and his Warwick-based company get through the downturn in better shape than many in the construction business.
Valuable land and property assets in the UK and Europe mean that the 63-year-old entrepreneur is able to buy, develop and sell when the market is right.
While he has been selling in recent years, he still has a retail park portfolio of nearly three million sq ft spread across sites in England, Scotland and Wales.
The two divisions of Tony Gallagher’s company are developing a wide range of business, retail and residential projects. Gallagher Estates and Gallagher Developments are involved in schemes across the UK and the company has worked with more than 50 local authorities on development and regeneration projects.
Urban regeneration projects are underway in Manchester, Northampton and Warwick, to name but a few, while urban extension schemes are being developed in Cambridge, Bristol and Milton Keynes.
Gallagher signboards are currently up on a huge variety of projects from small developments to entire towns.
In Northampton, a mixed-use urban village has been built near the centre of the town and another flagship development from Gallagher Developments is the Warwick Gates Business Park.
His Gallagher Estates has built two sustainable new towns in Wixams, Bedfordshire and in Northstowe, Cambridge.
These two projects form just part of the portfolio of developments across the country.
There are also spade-ready residential plots in Ashby and Birmingham, while Gallagher Developments has more than six million square feet of land with commercial development planning consent.
Gallagher UK continues to be one of the most successful privately-owned commercial and residential property development and investment companies in the UK. Tony Gallagher is owner and chairman.
* To see the Birmingham Post Rich List visit www.birminghampost.co.uk/business/business-news/rich-list-2015-manufacturing-leads-8482540.