Bank appointed by Sir Stuart Lipton to advise on sale after 22 years.
Sir Stuart Lipton, the founder of private property group Stanhope, is planning to sell the company after 22 years. After four months of talks with David Camp, the company’s chief executive, he has appointed investment bank NM Rothschild to move the process forward.
The bank will value the company – believed to be worth £35-40 m – in coming weeks, allowing Lipton and Camp to finalise the deal. According to The Times, it has is yet to be decided if Lipton will buy Camp out, or vice versa.
Lipton plans to begin a new property venture with Elliot Bernerd, founder of the property company Chelsfield. It is believed that this new venture will focus on large-scale developments.
Earlier this year Lipton, a former chief executive of the Commission for the Built Environment, set up Stanhope Places, an offshoot of Stanhope, in a move to branch out from what had been his core business.