Lord Sugar took home £181m in dividends last year, thought to be one of his biggest-ever paydays, despite suffering a 40pc slump in profits from his huge London property empire.
The 69-year old tycoon and star of the BBC’s The Apprentice came to fame in 1970s on the back of his Amstrad computer business but his business interests now mainly lie in commercial property.
Accounts filed with Companies House show that Amshold, Lord Sugar’s holding company, paid out £181m in total over the 12 months to the end of June 2016, compared with just £9m a year earlier.
The business, which is solely-owned by the entrepreneur, paid out £100m in December 2015, and then two further dividends of £51m and £30m each just two days apart in March last year.
It came as Amshold, which is focused on London property trading and development, posted a slump in pre-tax profits to £80.2m from £133.9m in 2015.
After Lord Sugar’s windfall bonanza, Amshold had net assets of £518.8m, down from £627.2m a year earlier.
The entrepreneur, who started off selling electrical goods from the back of van, is a major property investor in the capital. His portfolio includes The Lever Building, which is let out to supermarket giant Tesco, and Gloucester House on Old Park Lane, the site of Hard Rock Cafe.
Amshold’s main redevelopment project is the The Crosspoint in the heart of the City near Liverpool Street station, a mix of office and retail units that is due to be completed this month.
Because the company’s year-end was June 30, the firm said it was too early measure the impact of the Brexit vote seven days earlier on its property values.
There are fears the vote to leave the EU will hit the commercial property sector in central London, with real estate giants Land Securities and British Land revealing in November that they had been hit by the referendum. An Amshold spokesman could not be reached for comment.
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