Nicholas Sutton
Encyclopedia
Nicholas Sutton is a property developer, who has become well known for his abortive deal with Mohammed Al-Fayed to purchase Craven Cottage, home of Fulham Football Club for £50 million. He is a leading figure in property development in the UK and was named Young Property Person of the Year in 2002 by Property Magazine.
Educated at:
He met his future wife, Her Imperial Highness, The Princess Ayşe Gülnev Osmanoğlu Sultan, (b. Henley-on-Thames, Oxon, 17 January 1971) while studying at University. They married in 1994 and now have five children. Her Imperial Highness, The Princess Ayse Sultan is the daughter of His Imperial Highness The Prince Şehzade Osman Selaheddin Osmanoğlu Efendi, Imperial Prince of the Ottoman Empire (b. Alexandria, 7 July 1940) and Her Highness, Athena Joy Christoforides Hanımefendi, (b. London, 9 March 1944) who married in London, on 27 August 1966.
Upon Mr. Sutton's marriage to an Imperial Princess of the Ottoman Empire (from the paternal side), Mr. Sutton became His Excellency Damad Nicholas Nelson Sutton Beyefendi.
After training with Arthur Andersen
he joined Dilmun Investment Advisors Ltd, a subsidiary of Bahrain
International Bank, in November 1994 as Assistant Director Real Estate Investment Banking
.
In 1995 he set up Crown Dilmun on behalf of his employer, to specialise in inner-city residential projects in London
, Glasgow
, Manchester
, Bristol
, Newcastle
and Brighton
. He specialised in turning listed buildings into modern high-specification apartments.
While Managing Director of Crown Dilmun he negotiated development of the famous 160000 sq ft (14,864.5 m²) Harrods
Depository site in Trevor Square, Knightsbridge which was bought from Muhammed Al-Fayed for £52.5 million in 2001. The famous Grade II listed building was converted into forty apartments, a penthouse, two townhouses and two mews houses, 48000 sq ft (4,459.3 m²) of retail spaces and offices in a £140 million project.
In November 2002 he left Crown Dilmun. In January 2003 he was revealed as the person behind the agreement to purchase Craven Cottage
for £50million. The Cottage is the home of Fulham Football Club and was offered for sale by Fulham owner Mohamed Al-Fayed
. Although this deal fell through the proposal was the subject of an acrimonious court battle between Nick Sutton and his previous employer, Crown Dilmun which culminated in a twelve day court case in the High Court in December 2003. The resulting judgment found in favour of Crown Dilmun with Mr Justice Smith finding that Mr Sutton had breached the fiduciary duties that he owed his then employer . While Nick Sutton has stated he believes the judgement to be wrong he did not appeal .
From November 2002 he has concentrated full time on Imperial Property Company, which he and his wife founded in 1997.
Biography
Born 18 August 1969 in Birchington, Kent.Educated at:
- Sompting Abbotts Preparatory School, Worthing, West Sussex from 1975 to 1983;
- Brighton College, Eastern Road, Brighton from 1983 to 1988;
- University of Exeter from 1988 to 1991.
He met his future wife, Her Imperial Highness, The Princess Ayşe Gülnev Osmanoğlu Sultan, (b. Henley-on-Thames, Oxon, 17 January 1971) while studying at University. They married in 1994 and now have five children. Her Imperial Highness, The Princess Ayse Sultan is the daughter of His Imperial Highness The Prince Şehzade Osman Selaheddin Osmanoğlu Efendi, Imperial Prince of the Ottoman Empire (b. Alexandria, 7 July 1940) and Her Highness, Athena Joy Christoforides Hanımefendi, (b. London, 9 March 1944) who married in London, on 27 August 1966.
Upon Mr. Sutton's marriage to an Imperial Princess of the Ottoman Empire (from the paternal side), Mr. Sutton became His Excellency Damad Nicholas Nelson Sutton Beyefendi.
Qualifications and awards
- On leaving University joined Arthur Andersen in London where he trained and qualified as an accountant.
- Member of the Institute of Chartered Accountants.
- Member of the Institute of Taxation.
- Named by Property Week magazine as the Young Property Person of the Year in 2002.
Career
Nick Sutton was a student at Exeter University and made his first foray into the property market by buying properties, refurbishing and letting them out for student accommodation. He set up his first company, Imperial Property Co , in 1997 while still at university.After training with Arthur Andersen
Arthur Andersen
Arthur Andersen LLP, based in Chicago, was once one of the "Big Five" accounting firms among PricewaterhouseCoopers, Deloitte Touche Tohmatsu, Ernst & Young and KPMG, providing auditing, tax, and consulting services to large corporations...
he joined Dilmun Investment Advisors Ltd, a subsidiary of Bahrain
Bahrain
' , officially the Kingdom of Bahrain , is a small island state near the western shores of the Persian Gulf. It is ruled by the Al Khalifa royal family. The population in 2010 stood at 1,214,705, including 235,108 non-nationals. Formerly an emirate, Bahrain was declared a kingdom in 2002.Bahrain is...
International Bank, in November 1994 as Assistant Director Real Estate Investment Banking
Investment banking
An investment bank is a financial institution that assists individuals, corporations and governments in raising capital by underwriting and/or acting as the client's agent in the issuance of securities...
.
In 1995 he set up Crown Dilmun on behalf of his employer, to specialise in inner-city residential projects in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Glasgow
Glasgow
Glasgow is the largest city in Scotland and third most populous in the United Kingdom. The city is situated on the River Clyde in the country's west central lowlands...
, Manchester
Manchester
Manchester is a city and metropolitan borough in Greater Manchester, England. According to the Office for National Statistics, the 2010 mid-year population estimate for Manchester was 498,800. Manchester lies within one of the UK's largest metropolitan areas, the metropolitan county of Greater...
, Bristol
Bristol
Bristol is a city, unitary authority area and ceremonial county in South West England, with an estimated population of 433,100 for the unitary authority in 2009, and a surrounding Larger Urban Zone with an estimated 1,070,000 residents in 2007...
, Newcastle
Newcastle upon Tyne
Newcastle upon Tyne is a city and metropolitan borough of Tyne and Wear, in North East England. Historically a part of Northumberland, it is situated on the north bank of the River Tyne...
and Brighton
Brighton
Brighton is the major part of the city of Brighton and Hove in East Sussex, England on the south coast of Great Britain...
. He specialised in turning listed buildings into modern high-specification apartments.
While Managing Director of Crown Dilmun he negotiated development of the famous 160000 sq ft (14,864.5 m²) Harrods
Harrods
Harrods is an upmarket department store located in Brompton Road in Brompton, in the Royal Borough of Kensington and Chelsea, London. The Harrods brand also applies to other enterprises undertaken by the Harrods group of companies including Harrods Bank, Harrods Estates, Harrods Aviation and Air...
Depository site in Trevor Square, Knightsbridge which was bought from Muhammed Al-Fayed for £52.5 million in 2001. The famous Grade II listed building was converted into forty apartments, a penthouse, two townhouses and two mews houses, 48000 sq ft (4,459.3 m²) of retail spaces and offices in a £140 million project.
In November 2002 he left Crown Dilmun. In January 2003 he was revealed as the person behind the agreement to purchase Craven Cottage
Craven Cottage
Craven Cottage is the name of a football stadium in the Hammersmith and Fulham area that has been the home ground of the association football team Fulham F.C. since 1896....
for £50million. The Cottage is the home of Fulham Football Club and was offered for sale by Fulham owner Mohamed Al-Fayed
Mohamed Al-Fayed
Mohamed Abdel Moneim Al-Fayed is an Egyptian businessman and billionaire. Amongst his business interests are ownership of the English Premiership football team Fulham Football Club, Hôtel Ritz Paris and formerly Harrods Department Store, Knightsbridge...
. Although this deal fell through the proposal was the subject of an acrimonious court battle between Nick Sutton and his previous employer, Crown Dilmun which culminated in a twelve day court case in the High Court in December 2003. The resulting judgment found in favour of Crown Dilmun with Mr Justice Smith finding that Mr Sutton had breached the fiduciary duties that he owed his then employer . While Nick Sutton has stated he believes the judgement to be wrong he did not appeal .
From November 2002 he has concentrated full time on Imperial Property Company, which he and his wife founded in 1997.