One of the oldest family businesses operational in the UK today
Three Centuries of Unbroken Stewardship and Stability, Established 1697
Established in 1697, Folkes Holdings continues to expand under an entrepreneurial approach that has remained throughout the single bloodline ownership to this day, and now trades on an international scale across multiple markets, yet maintains the conservative values upon which three centuries of stability were founded.
Today, the business holds its core focus in commercial real estate, and operates this throughout the UK, the Channel Islands and South Africa. All investments are managed with consistent values applied through the Folkes history, being strong asset-based growth, sustainable income streams, conservative gearing, and maintaining available cash resources for opportune investments as they arise.
The heavy engineering business in which the business originally established its roots 300 years ago, remains strong and thriving. Somers Forge operates a broad range of state-of-the-art equipment and a highly skilled workforce, equipping it with the ability to supply a wide spectrum of bespoke forgings to blue chip clients and government bodies.
OUR VALUES
As one of the oldest family businesses still operational in the UK, our foundational approach to business is deeply rooted in stability and trust. Our core operating ethos is defined by "The Three Cs", which ensure disciplined management and an adaptive mindset, guiding our decisions for sustainable generational success:
- Conservatism
- Commercial Instinct
- Curiosity
OUR VISION
We view ourselves fundamentally as custodians of the business, borrowing it from future generations rather than inheriting it from our ancestors. Our strategic vision is centered entirely on longevity and sustainable generational growth. We aim to maintain this unique heritage and adapt successfully with the times for many centuries to come by focusing on:
- Maintaining long-term steady growth across all divisions.
- Pairing conservative strategy with entrepreneurial dynamism.
- Ensuring continuous operational relevance for future generations.
OUR MISSION
Our mission is to ensure continued operational success by rigorously adhering to the winning formulas and disciplined financial strategies that have proven successfully over the centuries. This stability allows us to confidently pursue global opportunities while maintaining:
- Tight financial controls combined with detailed forecast modelling.
- Substantial liquid funds to invest in the right opportunity at the right time.
- Conservative gearing at approximately $30\%$ of leverageable assets.
- A strong network of contacts and an impeccable reputation.
- A full suite of in-house multi-disciplinary professionals.
- The ability to forward-read the market and stay one step ahead of the curve.
We Do Not Inherit the Earth from Our Ancestors; We Borrow It from Our Children
Foundations Rooted in Longevity and Sustainable Practice
As a family business, we view ourselves as custodians, not inheriting the business from our ancestors, but borrowing it from future generations to come. For this reason, our foundations are rooted in longevity and therefore sustainable business practice. We incorporate a holistic, considerate and fair approach to our business activities and ensure any wealth creation project also generates a positive impact from an environment, social and/or governance perspective.
Within our most active geographic division, South Africa, we have covered many aspects of sustainable investing recently. Our roof space on our shopping mall portfolio is now 100% covered by solar panels, which dramatically reduces the carbon footprint of ourselves and our tenants. In addition, our most recent shopping mall development, 3Arts Village, has not only regenerated the previously impoverished area of Plumstead, and continues to do so with local community projects such as refurbishing the community hall and various infrastructure repairs, we have also volunteered some of our exhibition space to local charities and have run upskilling programmes at the centre. Over at our game farm in the Eastern Cape we are continuously giving back to the local community and have recently renovated the housing of the previously obsolete village occupied principally by our farm staff and their families, which included a grand renovation of the Church which plays the central role for their community gatherings.
Within the wider organisation, including the UK and Channel Islands, we are increasingly focused on ESG themes across all our investments interests and lines of business, particularly regarding the renewable energy sector. Current examples include a solar panel project for the rooves of our warehouses so that a similar percentage of roof space to our South African mall portfolio will generate solar power. Within our engineering division, which by it’s very nature involves intense energy usage, we have recognised our responsibility to mitigate our carbon footprint as much as possible, and we have managed to successfully meet our CCA targets whilst continuing to seek further opportunities to improve business performance alongside energy efficiency. We are also jointly involved in a research project with Birmingham University in which we play the industry lead, which is exploring the capturing and recycling of waste heat to reduce emissions. This research will play a vital role in helping the steel industry reduce its carbon footprint.
Within our team we strive to foster a culture of fairness and equal opportunities amongst our employees, and our board and senior management represents a balanced gender profile. We aim to be inclusive and promote opportunities for all within the group who demonstrate enthusiasm and growth potential, and who align themselves with the values of the business.
MEET THE TEAM
Constantine Folkes
Chairman
In 1981, at age 28, Con took over the helm of the family company and was, at that time, the youngest chairman of a quoted company. He has since held the position of Chairman and Chief Executive for more than 4 decades, steering the business from solely manufacturing to become a multi-jurisdictional real estate and manufacturing conglomerate, and increasing the market cap from £4m to more than £300m during his tenure. Trained in accountancy, he oversees every aspect of the business and is responsible for the drive and vision behind the group.
Samson Folkes
Group Managing Director
Following completing his A levels at Millfield, Samson’s further education studies from Oxford include accountancy, real estate, agriculture and civil aviation. He commenced his role at Somers Forge in 2013, learning the ropes on the workshop floor, and rotating through every manufacturing division as well as the sales, finance and production divisions, thereafter taking on directorship in 2015 and becoming Managing Director in 2016. In 2021, at age 28, Samson became Managing Director of the entire Folkes Holdings group and his current focus is the day-to-day operations of all corporate matters including manufacturing and property in the UK and internationally.
Cleo Folkes
Deputy Chairman
BVSc, MRCVS
After graduating in 2005 with a distinction in Veterinary Medicine, Cleo spent 3 years in private small animal practice as a Veterinary Surgeon with an active role in the business management. Since joining Folkes Holdings Ltd in 2009 Cleo has occupied varied positions from Director of Operations to her current position as Deputy Chairman. Cleo has also held directorships on the boards of two private South African property funds and one listed property fund.
Amy Folkes
Business Development Director
BA, MSc
Amy joined Folkes in 2010 after 5 years in corporate and investment banking working in loan origination and capital markets. Her main focus lies with business development and the wealth management division operated out of the Channel Islands, and continues to interface with her professional network acquired during her years working in London’s financial sector. Amy also focuses on marketing and PR for the group including collaboration with various pro-business organisations.
Paul Tomlinson
Finance Director (CFO)
FCCA
Paul has worked at the Folkes head office since 2008 after 13 years in audit with chartered accountants BDO. He has progressed through the finance team from Group Financial accountant to Finance Director. Paul oversees the head office finance function with a particular focus on the real estate division, financing, investments, the South Africa operation and tax, and also been involved in a number of group reorganisations over the last decade.
Tammy Inglis
Commercial Director (CCO)
ACMA
After 20 years with the group serving in multiple director positions, Tammy has gained most of her commercial experience from her longstanding primary role as Finance Director in the Engineering division. Tammy oversees procurement and supply chain management where she has led large capital expenditure projects from financial justification through to commissioning. Tammy is heavily focussed on reducing costs in an environmentally and sustainable way and has regularly been successful in securing grant awards to support innovative investment projects.
Chris Bartley
General Counsel UK
As General Counsel of the Folkes business group, Chris leads the group’s legal strategy, ensuring compliance, risk management, and governance align with business objectives. With extensive experience in real estate and commercial law, corporate transactions, and regulatory affairs, Chris plays a key role in supporting the company’s growth and protecting its assets. Prior to joining Folkes, Chris held senior legal positions at Mills & Reeve LLP and advised in relation to high-value property developments and complex real estate litigation.
Paul Turner
Non-Executive Director, UK
Formerly serving as both Group Financial Director between 2002 and 2009, and Group Managing Director between 2009 and 2021, Paul now remains with the group in a Non Executive capacity. Paul has overseen the entire in-house portfolio management undertaken at Folkes, and consequently has gained wide experience of leasing, investment, development and funding both in the Channel Islands, the UK and South Africa. Prior to Folkes Paul held management and director roles at Morgan Stanley International, Cookson Group, Hillsdown Holdings and Evered Holdings.
Alan Menigo
General Manager, SA
Alan is a Director of both Folkes Holdings and Rapfund and has been involved with Folkes’s South African portfolio since 2012. Alan spearheaded the 3 Arts Village Shopping Centre development in Cape Town which launched in 2021, repurposing an old theatre into a convenience shopping centre and achieving 100% occupation upon launch. Prior to Rapfund, Alan served as CFO of Fountainhead Property Trust, and qualified in KPMG’s New York office in the Transaction Services and M&A Division.
Andrew Spooner
Non-Executive Director, SA
Andrew has recently joined as a non-executive director of Folkes’ South African division. After qualifying and, initially, working as a Quantity Surveyor, he subsequently joined Nedbank as a Property Investment Manager. He has extensive experience in assessing, structuring, motivating and managing property investments (including some joint ventures involving the Folkes group) and has served on boards of numerous companies that have developed large retail, industrial and commercial properties as well as residential estates.
Greg Heron
Non-Executive Director, SA
Involved with Folkes’ South African division, since 2015, Greg as more than 25 years’ experience in corporate, structured and property finance as well as significant operational exposure to a variety of businesses. Greg is currently CEO of Infinitus Holdings (Pty) Limited and is also Chairman of SA Corporate Real Estate Limited and a non-executive director of Heriot REIT Limited and Safari Investments Limited, all Real Estate Investment Trusts listed on the JSE. Greg has previously held leadership roles in Leaf Property Fund, Clearwater Capital, and Nedbank Property Finance.
Leon Quenet
Non-Executive Director, SA
Having worked within real estate since 1989, Leon has held a non-executive role with Folkes Holdings Pty Ltd since 2016 and has successfully completed numerous joint-venture development projects between Folkes/Quenet in South Africa such as Mercedes Benz/Fuso Truck dealership in Cape Town, Bell Equipment Warehouse facility in Rustenburg , MCSA Premium grade office building in Houghton Johannesburg, and The Quarter residential development complex in De Waterkant in Cape Town.
Angus Sholto Douglas
Non-Executive Director, SA
Angus has served as a non-executive director of Folkes’ South African division since 2016. His career within the Wildlife Economy spans thirty years and he is currently Managing Director of Kwandwe Private Game Reserve which he founded in 1999 after previously working in senior management at MalaMala Game Reserve and Botswana’s Linyanti Concession. Angus has served on the Board of Wildlife Ranching South Africa, the Private Rhino Owners Association, Private Association of Rhino Conservation Reserves and has been awarded both the Wildlife Rancher of the Year and Master Game Rancher in Eco-tourism.
Stephen Whale
Non-Executive Director, CI
Stephen is a Chartered Accountant based in Jersey with over thirty years’ experience working with private clients from across the globe, but with a particular emphasis on East Africa and the Middle East. He has acted in an executive and non-executive capacity as a director of a number of Jersey companies in both the regulated and unregulated sectors. As well acting as a consultant, Stephen is currently a non-executive director of Community Savings Ltd, a Jersey based charity and a volunteer with Citizens’ Advice Bureau.
CAREERS
We are a collaborative and close-knit team that welcomes creative thought and contribution from all in the everyday problem-solving we encounter. While our staff turnover is extremely low, we are often on the lookout for people who offer news ways of thinking to join our team and propel our business into new stratospheres.
We are proud of our inclusive approach to team diversity with an equal representation / distribution of both genders amongst our executive board and also our wider personnel in our UK head office.