MITSUBISHI ESTATE LONDON LIMITED
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Next accounts due
2026-09-30 (in 4mo)
Last filed for 2024-12-31
Confirmation statement due
2026-11-04 (in 6mo)
Last made up 2025-10-21
Watchouts
None on the register
Cash
—
Latest balance sheet
Net assets
—
Equity attributable
Employees
—
Average over period
Profit before tax
-£87M
+69.2% vs 2023
Name history
Renamed 2 times since incorporation
- MITSUBISHI ESTATE LONDON LIMITED 2014-04-02 → present
- PATERNOSTER ASSOCIATES LIMITED 2010-12-20 → 2014-04-02
- PATERNOSTER ASSOCIATES 1989-10-24 → 2010-12-20
Profit before tax
2-year trend · vs Real Estate median
Accounts
2-year trend · latest reflected 2024-12-31
| Metric | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Turnover | £34,729,000 | £25,227,000 | |
| Operating profit | -£234,330,000 | -£26,209,000 | |
| Profit before tax | -£280,866,000 | -£86,501,000 | |
| Net profit | -£283,474,000 | -£84,483,000 | |
| Cash | — | — | |
| Total assets less current liabilities | — | — | |
| Net assets | — | — | |
| Equity | — | — | |
| Average employees | — | — | |
| Wages | — | — |
Values shown as filed in the company's annual accounts. — indicates the figure wasn't present under that line item in that period. About these numbers
Ratios
Computed from the line items above — sparklines read oldest → newest
| Ratio | Trend | 2023-12-31 | 2024-12-31 |
|---|---|---|---|
| Operating margin | -674.7% | -103.9% | |
| Net margin | -816.2% | -334.9% | |
| Interest cover | -5.00x | -0.43x |
Margins divide P&L lines by turnover. Gearing is liabilities over total assets. Current ratio is current assets over creditors falling due within one year. Interest cover is operating profit over absolute finance costs. Sector-distribution context coming next.
Audit & accounting basis
- Accounting basis
- FRS 102
- Reporting scope
- Standalone (parent only)
- Auditor
- Ernst & Young LLP
- Audit opinion
- Unqualified (clean)
- Going concern
- Affirmed
“The financial statements have been prepared on a going concern basis. The Directors have considered cash flow requirements for the period to 30 September 2026 (the 'going concern period'). The Directors believe that preparing the financial statements on the going concern basis is appropriate due to the continued financial support of the ultimate parent company, MEC. The Directors have received confirmation that MEC will support the Group for a period until 30 September 2026.”
Group structure
- MITSUBISHI ESTATE LONDON LIMITED · parent
- MEC London Property 2 Unit Trust 99.9%
- MEC London Property 2 Limited Partnership 99.9%
- MEC London Property 3 Unit Trust 99.9%
- MEC London Property 3 Limited Partnership 99.9%
- 46 Boetie Property Sarl 100%
- MEC European Investment 1 S.à.r.l. 100%
- Europa UK BTR Limited Partnership 100%
- Poniente Items S.L.U 100%
- Grace Stockholm Holding AB 100%
- ME London 1 S.à.r.l. 90%
- Sable UK BTR Limited Partnership 99.99975%
- Europa R2C Limited Partnership 100%
- MEC London Property 4 (General Partner) Limited 100%
- MEC London Property 4-1 Limited 100%
- MEC London Property 4-2 Limited 100%
- MEC London Property 4 Limited Partnership 100%
- MEC UK Logistics 1 Limited 100%
- NEPC Holdco Limited 100%
- Orchard Tower Holdco Limited 100%
- Orchard Tower Limited 100%
- Orchard Tower North Limited 100%
- Orchard Tower South Limited 100%
- Apex Holdco Ltd 100%
- Apex Propco Ltd 100%
- Wickside Holdco Ltd 100%
- Wickside Propco Ltd 100%
- Alperton Holdco Ltd 100%
- Alperton Propco Limited 100%
- Grace Stockholm AB 100%
- Lumen International Developments S.à.r.l. 90%
- VREF Shaftesbury SCS 90%
- VREF Shaftesbury GP S.à.r.l. 90%
- MEC London Property 4 (Nominee) Limited 100%
- Europa Granary Holdco Limited 100%
- Europa Granary Propco Limited 100%
- Dandara Living Granary Quay Unit Trust 100%
Significant events
- “The Company contributed an additional £37,031 thousand investment to one of its UK subsidiaries, Sable UK BTR LP, which is currently involved in the construction of residential properties.”
- “The Company invested additional £31,500 thousand through subsidiaries into MEC London Property 4 Limited Partnership to maintain refurbishment projects.”
- “The Company invested additional £14,850 thousand through subsidiaries into MEC London Property 3 Limited Partnership to maintain development projects.”
- “The Company repaid £14,000 thousand to intercompany loan with MEC London Property 3 Limited Partnership.”
- “The Company contributed an additional £1,390 thousand investment into one of its UK subsidiaries, Europa UK BTR LP to carry on development of residential property.”
- “The Company contributed additional £5,994 thousand investment into one of Joint Venture 125 Shaftesbury Avenue for its refurbishment.”
- “The Company contributed an additional £31,500 thousand investment into one of its UK entities, Europa R2C Limited Partnership to maintain development projects of residential properties.”
- “The Company invested additional £3,023 thousand (€3,500 thousand) in Poniente Items, S.L. a Spanish subsidiary for refurbishment of the property.”
- “On 11 July 2025, the Company entered into an interest -free loan agreement with MEC London Property 3 (General Partner) Limited in an aggregate amount equal to the total commitment of £55,000 thousand.”
- “On 25 July 2025, £3,000 thousand was loaned.”
- “For the bank loans wholly repayable within one year, the Company repaid £171,000 thousand subsequent to the balance sheet date.”
Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers
People
3 active · 27 resigned
| Name | Role | Appointed | Born | Nationality |
|---|---|---|---|---|
| HARAGUCHI, Yoshitaka | Director | 2026-04-01 | Jan 1987 | Japanese |
| HIRANO, Mitsuyasu | Director | 2025-04-01 | Jan 1976 | Japanese |
| KAGITOMI, Shinichi | Director | 2022-04-01 | Nov 1970 | Japanese |
Show 27 resigned officers
| Name | Role | Appointed | Resigned |
|---|---|---|---|
| BROWN, Norman Clifford | Secretary | — | 1995-10-19 |
| HIRANO, Mitsuyasu | Secretary | 2024-04-01 | 2025-03-19 |
| ISHII, Toru | Secretary | 2011-04-01 | 2016-05-01 |
| KAGITOMI, Shinichi | Secretary | 2006-03-31 | 2009-04-01 |
| KOIBUCHI, Yuko | Secretary | 2016-05-01 | 2019-03-29 |
| MASUKO, Takehiro | Secretary | 2019-03-29 | 2024-04-01 |
| SATO, Masayuki | Secretary | 2009-04-01 | 2010-04-01 |
| SUZUKI, Kentaro | Secretary | 2002-04-22 | 2004-03-26 |
| TAJIMA, Yutaka | Secretary | 1995-10-19 | 1998-07-06 |
| TANAKA, Yuji | Secretary | 1998-07-06 | 2002-04-22 |
| YAMAZAKI, Tomoyasu | Secretary | 2004-03-26 | 2006-03-31 |
| AIZAWA, Hiroyuki | Director | 2020-04-01 | 2025-03-31 |
| AMANO, Masami | Director | 2010-10-01 | 2011-04-01 |
| ARAHATA, Kazuhiko | Director | 2010-10-29 | 2014-04-01 |
| ARIMURA, Hiroyuki | Director | 2011-04-01 | 2014-04-01 |
| FUJII, Hiroaki | Director | 2010-10-01 | 2013-05-01 |
| KAGITOMI, Shinichi | Director | 2014-04-01 | 2019-03-29 |
| KATO, Jo | Director | 2014-04-01 | 2018-04-01 |
| KAWASAKI, Masato | Director | 2014-04-01 | 2016-04-01 |
| KOIBUCHI, Yuko | Director | 2019-03-29 | 2020-03-31 |
| NAKAJIMA, Atsushi | Director | 2016-04-01 | 2018-04-01 |
| SASA, Yuichi | Director | 2025-04-01 | 2026-03-31 |
| SHIODA, Yuichiro | Director | 2016-04-01 | 2022-03-31 |
| UMEDA, Naoki | Director | 2013-05-01 | 2016-04-01 |
| YANIGISAWA, Yutaka | Director | 2010-10-01 | 2014-04-01 |
| MEC UK LIMITED | Corporate Director | 1995-10-19 | 2010-10-01 |
| PRECIS (938) LIMITED | Corporate Director | — | 1995-10-19 |
Ownership
Persons with significant control
| Name | Kind | Nature of control | Notified | Status |
|---|---|---|---|---|
| Mitsubishi Estate Europe Limited | Corporate entity | Shares 75–100%, Voting 75–100%, Appoints directors | 2018-06-27 | Active |
Filing timeline
Last 20 of 249 total filings
| Date | Type | Category | Description | |
|---|---|---|---|---|
| 2026-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2026-04-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-10-31 | CS01 | confirmation-statement | Confirmation statement with updates | |
| 2025-08-27 | AA | accounts | Accounts with accounts type full | |
| 2025-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-01 | AP01 | officers | Appoint person director company with name date | |
| 2025-04-01 | TM01 | officers | Termination director company with name termination date | |
| 2025-04-01 | TM02 | officers | Termination secretary company with name termination date | |
| 2024-12-30 | SH01 | capital | Capital allotment shares | |
| 2024-12-16 | SH01 | capital | Capital allotment shares | |
| 2024-10-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2024-10-21 | CH01 | officers | Change person director company with change date | |
| 2024-10-21 | CH01 | officers | Change person director company with change date | |
| 2024-10-04 | AA | accounts | Accounts with accounts type full | |
| 2024-04-02 | AP03 | officers | Appoint person secretary company with name date | |
| 2024-04-02 | TM02 | officers | Termination secretary company with name termination date | |
| 2023-10-23 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2023-10-07 | AA | accounts | Accounts with accounts type full | |
| 2022-10-21 | CS01 | confirmation-statement | Confirmation statement with no updates | |
| 2022-10-01 | AA | accounts | Accounts with accounts type full |
Public-record activity
Raw counts from Companies House — last 12–24 months
- Filings
- 4
- Capital events
- 2
- Officers appointed
- 1
- Officers resigned
- 1
last 12 months
last 24 months
last 12 months
last 12 months
Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.
Year-on-year
FY2023 → FY2024 · period ending 2024-12-31 vs 2023-12-31
-
Turnover
-27.4%
£34,729,000 £25,227,000
-
Cash
—
Not reported
-
Net assets
—
Not reported
-
Employees
—
Not reported
-
Operating profit
+88.8%
-£234,330,000 -£26,209,000
-
Profit before tax
+69.2%
-£280,866,000 -£86,501,000
Each % is (latest − prior) ÷ |prior| for the line item as filed. The comparison is only shown when the latest and prior accounts cover broadly equal-length periods — short or long stubs (typical around incorporation or a year-end change) are suppressed rather than misrepresented. Lines a company doesn't report are omitted. About these numbers