HISTORY

Established in 1962, the Group was formed by founder Frank Robert Gamon and Harold Leonard Speller. They started as builders and developers, completing many hundreds of homes in the East of England for themselves and the First National Finance Corporation over the next 30 years.

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During the '80s, they began to invest in commercial property and continued residential development until the recession in '89. Sadly, Frank died suddenly in 1993 and his shareholding was passed to sons Perry and Martin, with Harold taking over as Chairman. This period of recession had taken its toll and there was a period of stagnation until 1996 when the Group was able to rid itself of substantial guarantees provided by the joint venture with FNFC.

In 1999 the Gamon brothers acquired the Speller family shares and Perry became Chairman.

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A period of expansion ensued and the Group traded profitably until 2008 when the financial recession took hold. Long term interest rate swaps forced the Group into a further period of stagnation and litigation with its bankers. A settlement agreement in 2015 was quickly followed In 2016 by an LPA receivership of some of the Group's investment stock to pay down its remaining debt.

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Since 2017 the Group has been debt-free, and although it no longer develops due to the semi-retirement of the shareholders, it continues to invest in commercial property and, through an associate company, strategic land.

At April 2019 the Group had a net worth of £5.6m.