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Opal Property Group

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Opal Property Group

Industry Property
Founded 1998 (1998)
Founders Stuart Wall
Headquarters Manchester, United Kingdom
Area served United Kingdom
Key people Stuart Wall (founder and owner); Joe Dwek,[1] Don Hanson, John K Berry (non-executive directors)
Revenue £143m (Sep 2012)
Total assets £1.069bn (Sep 2012)
Owners Stuart Wall
Employees 550
Subsidiaries Ocon Construction
Website .com.opalgroupwww
Opal 3 in Leeds, one of the company's student accommodation buildings
.

Opal Property Group Limited, often referred to as Opal, is a company based in the United Kingdom which operates a number of large property developments in UK cities, targeted at students and private renters. Founded in 1998[2] by Stuart Wall, Opal is the largest provider of private student accommodation in the UK, providing accommodation for 20,000 students.[3]

History

The company was founded in 1998.

2013

In March 2013, the company reported that one of its subsidiaries, Ocon Construction, was to be put into administration.[4] The parent company Opal may be broken up if loan extensions with the banks cannot be agreed.

13 further Opal property subsidiaries in Liverpool, Manchester, Bradford, Dundee, Huddersfield, Leeds, Leicester, London and Wolverhampton went into administration in March.[5]

As of April 2013, much of the various sub companies in the group were in the hands of administrators with various property management companies brought in to oversee the developments whilst buyers were sought.

Properties

Opal's properties include:

References

  1. ^ Manchester Evening News, http://www.manchestereveningnews.co.uk/business/business-news/joe-dwek-to-step-down-from-worthington-893551
  2. ^ Company Check, http://companycheck.co.uk/company/03619340
  3. ^ Guardian Education, http://www.guardian.co.uk/education/2008/aug/17/studenthousing.studentfinance
  4. ^ Place North West, http://www.placenorthwest.co.uk/news/archive/13187-ocon-administration-due-to-operational-issues.html
  5. ^ http://www.placenorthwest.co.uk/news/archive/13211-wave-of-opal-sites-fall-into-administration.html
  6. ^ Opal Students, http://www.opalstudents.com/student-accommodation/nottingham/opal-1-oonot/features/


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