Lord Sugar: No dividend this year
The Apprentice star Lord Alan Sugar’s holding company fell into the red this year.
Amshold – the group through which Sugar holds his property investments – clocked a £29m loss for the year to June 30. This compared with a £15.2m pre-tax in 2022.
The London freehold investment property market was ‘difficult, with high interest rates, uncertainty and falling valuations,’ the firm said in its annual accounts.
Rent collections from some tenants had also been ‘challenging’ while yields remained low.
No dividends were dished out this year compared with £90m distributed in 2022. And the document warned that although a beleaguered property market provided ‘opportunities for investments’, it put the firm’s existing portfolio under strain.
It said future increases in interest rates would ‘generate further pressure’ on valuations.
Amshold sold some investments, including two properties for a combined £56.3m. They had been bought for £35.6m.
