Elliott Bernerd (born 23 May 1945) is a British property developer, the co-founder of the property company Chelsfield with Sir Stuart Lipton.[1]
Early life
He was born in Maida Vale, London on 23 May 1945,[2] the only child of a film producer father. His parents divorced when he was 7.[3][4] He was educated at various schools, leaving Davies Tutorial College, Holland Park, at the age of 15.[4]
Career
Aged 15, Bernerd went to work for Dorrington Investment Trust, with his heart "set on a career in property".[4]
In 1983 he began the development of Stockley Park in west London (he paid £8 million for the site; in 1988, the development sold for £365 million, of which £20 million went to Bernerd).[5] In 1986, he co-founded Chelsfield, which, in 1988, bought Wentworth Golf Club for £17.7 million[5] (also reported as £20 million).[4][6] Bernerd sold 40% of the club to Japanese investors, raising £32 million, in 1989.[5] In 2004, Chelsfield sold the remaining 60% share, as Richard Caring bought the club for £130 million.[7]
In 1993, Chelsfield acquired the Merry Hill Shopping Centre project, putting up £35 million, alongside £120 million from a group of Saudi Arabian investors (from whom Bernerd received a £6 million finder's fee). Chelsfield later bought out the Saudi investors.[5] By 2004, Merry Hill's value was close to £2 billion.[2]
According to Institutional Investor, Bernerd was a client of a Jersey-based offshore trust company La Hougue which engaged in tax minimisation through legal as well as illegal loopholes and other avoidance measures.[10]
Personal life
He had two adult daughters with his ex-wife, from whom he was divorced sometime before 1992.[4] His daughter Tara Bernerd is a London-based interior designer.[11][12][13]
In 1993, Bernerd was living in Surrey, with his third wife.[14]
