pounds 15m profit from housebuilder sale

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The Independent Online
TONY K PIDGLEY (left) is set to pocket pounds 15m from the sale of his company to Berkeley group, the housebuilder founded and headed by his father, Tony W Pidgley. The 29-year-old entrepreneur yesterday announced the sale of his luxury housebuilder Thirlstone to Berkeley for pounds 4m in cash and pounds 11m in Berkeley shares.

Mr Pidgley junior will also become managing director of Berkeley's Home Counties subsidiary and will sit on the board alongside his father, who is group managing director. The move puts him in pole position to succeed Mr Pidgley senior when he decides to step down.