“We
didn’t
go
undeR”
As the UK slowly emerges from the toughest economic
times in memory, ShortList’s Simeon de la Torre hears how
three entrepreneurs not only survived but also triumphed
38 / w ww.ShortLiSt.com
Recession is a terrifying time
for many, characterised by
head-in-hands moments and
sleepless nights. with the gloom
lifting though, for all the stories
of loss and difficulty there are
those of bravery and remarkable
success. we speak to three men
who have stared straight down the barrel of commercial
defeat and managed to come out on top. their stories
of inspiration will no doubt serve as galvinisers for
any shelved business ideas that you thought were,
if not impossible, somewhat foolhardy.
The properTy hoTshoT
Robert Soning, 41
Property development,
like banking, has taken
a huge hit during the
credit crunch – it’s a fact
that Londonewcastle’s
founding partner robert
Soning can attest to. “it
was a hugely damaging
time – biblical in its
proportions,” he says. “it
was like nothing i’d ever
been through before and
Soning stuck to his
company’s principles
i probably went through
every emotion a human
can experience over
that time. Between January and June last year was the
toughest [period], and the business could have easily
failed. i had to lay off almost half of the workforce.”
But Soning’s central London property company
didn’t fail, and he was able to steer it through troubled
times by sticking to its defining principles. “the
company has been going for 14 years and what we do
is create environments that are very design-led and
quality-driven,” he says. “we collaborate with leading
and up-and-coming artists to produce unique
properties that people will love and want to live in.
we’re not your usual property developers.”
Soning’s ‘design-led’ ethos means that his costs are
considerably higher than those of his competitors but,
rather than slashing his fixtures and fittings budget and
drenching every property in magnolia paint, he elected
to stick to his guns. “our philosophy never changed,” he
says. “we weren’t tempted to cut our costs to the bone,
because that’s not what we’re about. People come to
us because they recognise our quality and if we had
compromised on that we would have been sunk.”
in much the same way that hugo Boss didn’t try
to ride out the recession by banging out suits for
£100, Soning also held his nerve when potential buyers
made “silly offers” for his properties. the result?
he has emerged from the financial wreckage with
a multimillion-pound property portfolio that is selling
strongly. “You have to negotiate to a sensible level,”
he says. “Good quality stands the test of time, it really
“Stick to your instincts. If
you believe in what you’re
doing, keep on doing it”
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