Essex Life - - RICHEST 50 -

Prop­erty 2018: £100m 2017: £100m (34th=)

Plans to build a new £70mil­lion re­tail park on the edge of Colch­ester have faced a long-run­ning le­gal chal­lenge from the lo­cal coun­cil and re­tail giants in the town cen­tre. Toll­gate Part­ner­ship plans an out-of-town shop­ping vil­lage, which would be 20-acres on the former Sains­bury’s site, with re­tail and leisure uses – in­clud­ing a new cin­ema. Since the 1980s Toll­gate Part­ner­ship, run and owned by the Watts fam­ily, has de­liv­ered a shop­ping cen­tre, business park, Sains­bury’s su­per­store, new roads and im­proved ac­cess for pedes­tri­ans and cy­clists in the area. To­day the business is run by the sec­ond gen­er­a­tion of the fam­ily, Jayne Gee and Daniel Watts. Its main sub­sidiary, Cor­po­rate As­so­ci­ates, showed £96.3m net as­sets in 2016-17. Other smaller prop­erty com­pa­nies etc. keep the Watts fam­ily at £100m un­til the Toll­gate is­sue is re­solved.

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