Cornerstone Property Assets
Cornerstone describes itself as a social investment company that 'provides commercial property solutions to public policy problems'.
It says it 'converts' surplus publicly owned buildings and uses the value created from [state] assets to provide investment in public services, while making a fair commercial return for private investors.
It specialises in property in education, housing and adult social care.
It makes money through 'sharing in the upside of development deals'. It says it donates some of this to its third sector partner, the Transformation Trust to fund extra-curricular activities in local state schools, or to other third sector organisations.
How it works
Cornerstone says it works:
- as a broker: 'A typical project would be one in which investment in a public asset (e.g. a School) is to be paid for through commercial development, often residential housing.'
- as a developer: 'purchasing land or property to deliver public benefit.'
- as an advisor: 'to landowners, supporting property and asset planning processes'
- Tim Byles; Chief Executive (Executive Board Member)
- John McDonough, Chairman of Vesuvius and ex-CEO of Carillion
- Sir Rod Aldridge, founder and former executive chairman of Capita
- Sir David Bell, ex chairman, Financial Times Group and director of Pearson
- John Morgan, Chief Executive Morgan Sindall
- Madani Sow, Chairman of developers Bouygues UK / Nicolas Guerin
- Rick Willmott, Group Chairman, Willmott Dixon
- Paul Hackwell, Finance Director (Executive Board Member); former Director of Resources Partnerships for Schools
- Address: Hope House, 1st Floor 45 Great Peter, Street, Westminster, London, SW1P 3LT