Simon Upward ?

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Simon Upward

Brothers Simon Upward, 47, and Paul Upward, 45, run and own Ocobase, a Croydon-based property firm worth £62m. In 2006-07, its profits rose from £5.9m to a record £7m on £9.8m sales. We add £9m for other assets including the property companies Bayside Investments and Sima Investments.

Ocobase Property Group Ltd - Simon Upward

Address:
Ocobase Property Group Ltd
198 Lower Addiscombe Road
Croydon
CR0 7AB

Phone: 020 86566737

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Brent Fleece - Simon Upward

BRENT council is facing questions about how it managed to lose around three quarters of a million pounds in a local property deal that shafted a successful charity-run sports centre.

Kinnor, a small Jewish charity in north London, started renting land from the council at Stag Lane, Kingsbury, in 1976 at an annual rent of £350, later raised to £600. With small amounts of money from the govemment and council, the charity managed to build a thriving community and sports centre with squash courts, a sports hall, table tennis and a canteen.

The centre was very popular and used by up to 600 people a week. But in 1999 trustees of the Kinnor charity were dismayed to hear that Brent council had decided to sell the centre’s freehold. It was bought at auction for £46,000 by Warborough Investments Ltd, part of the empire of Paul and Simon Upward, who own and run the Ocobase Group which, according to the Sunday Times rich list, makes them worth around £40m.       Simon Upward

The new landlords immediately imposed a new rent of £35,000 a year, which Kinnor could not possibly pay. So the charity surrendered the lease and its workers were evicted. A few months later, Warborough sold the "unencumbered” freehold of the building for a whopping £780,000 and then proceeded to sue the trustees and even the voluntary charity workers for half a million pounds more because of dilapidations and unpaid rent.       Simon Upward

Their case was chucked out in the chancery court by acting judge William Blair QC (Tony’s older brother), but individuals involved in the charity still face the threat of further legal action by the company. They are puzzled by the behaviour of Brent which appears to have lost roughly £750,000 on the deal and no one can work out why.