Many of today’s most successful companies can trace their routes back to humble beginnings, and it’s the same with CNC Valuations. Starting out as a firm of fruit merchants called Barrow & Co, formed in the mid-nineteenth century, identified a profitable opportunity in the production of candied peel in the early 1870s and ran with it.
That turned out to be a very good idea. The enterprise proved so successful that within five years, the company – that was then trading as Clarke Nickolls & Coombs – had grown to be a flourishing confectionery manufacturer, owning extensive land and property in the East End of London, as well as shops, showrooms and depots around the UK. By 1887 the decision was made that the time had come to convert the business into a Public Limited Company.
Clarke Nickolls & Coombs Ltd continued to thrive, launching confectionery brands that are still popular today – think Clarnico Mints and Poppets. The already extensive property portfolio also continued to expand and included the purchase of the Bond Street premises Charbonnel et Walker.
By 1914, the company’s property interests had grown to such an extent that the board of directors decided it was prudent to form Jonathan Edmondson and Company Limited, now CNC Property Fund Management Limited, as a wholly owned subsidiary that was to take responsibility for the management of its portfolio.
CNC Property Fund started a commercial letting operation in 1955, there was a gradual change of emphasis that eventually led to property investment and development being the company’s main business interests and the confectionery business was sold to Trebor Sharps in 1972.
A major refinancing programme in 1993 enabled CNC Properties to acquire a substantial portfolio of properties from Channel Hotels and Properties Limited (CHAPS). Since then the company has continued to maintain a balanced portfolio through an active programme of acquisitions, disposals, share placing and joint ventures.
In June 2000, CNC Properties was acquired as part of a mixed bond and property investment vehicle. At the same time, everyone employed by CNC and its subsidiaries transferred to a new company, Collins Stewart Property Fund Management Limited (CSPFM) that continued with the management of the CNC Property Portfolio.
As the CNC Property portfolio continued to outperform and in 2004 the management of CSPFM bought out both the acquiring company and the CNC Property Management Company to trade under the CNC name. This reflects the current management team’s 25-years plus history of managing commercial property globally.
CNC now has offices across the UK and Europe, with the Middle East & North Africa (MENA) office having been established in Dubai in 2011. Managing Director of CNC Valuations, Gary Richard (MRICS) – who is also studying arbitration to further his knowledge – established the business in the Middle East after a successful 15-year career working as a valuer at well-known property companies in the UAE, including Hamptons and Deloitte.
Since opening its doors with two employees in 2011, the CNC Valuations team now encompasses many experienced professionals – each with his or her own specialisation related to the property market – and has seen revenue growth of 20 to 30 per cent year on year. That expansion doesn’t look set to slow down anytime soon due to the many satisfied clientele the company actively seeks business across the MENA region
The sound business judgment and entrepreneurial spirit exercised at the very start of our professional journey by the business’ founding partners, Mr. Gray and Mr. Barrows, still inspires the entire team today. We look forward to sharing this passion with you.