Meeting Town Centre’s executive chair: Lee and the IC

Town Centre Securities ( TOWN ) is one of the UK market’s oldest names. Founded, managed and largely controlled by the Ziffs of Leeds since its listing in 1960, it is a typical John Lee stock: a cash-generative, dividend-paying, and storied family business with roots in the North. Another factor explains John’s recent decision to start building a stake in the group. At £1.15p, Town Centre’s share price trades well below half of the company’s net asset value. In this latest CEO interview , John and IC associate editor Alex Newman speak with Town Centre’s chief executive and chairman, Edward Ziff, about the business’s past and present , and the prospects for closing that enormous valuation gap. Let us know your thoughts, or if you have any questions or any suggestions for future guests, by emailing alex.newman@ft.com . Listen to more podcasts from Investors’ Chronicle by clicking here or heading to Apple , Spotify and YouTube . Timestamps: 00:00 - Introduction 00:30 - How developments in Iran are affecting Lord Lee's investing plans 03:25 - Dr. Edward Ziff explains Town Centre Securities business 07:13 - How Town Centre Securities real estate assets are spread 11:44 - Recent performance of Town Centre Securities 15:40 - Lord Lee's previous dealings with Town Centre Securities 19:07 - How important leverage and loan-to-value ratio is to the business 23:36 - Town Centre Securities' Debenture 28:49 - Moving out of REIT status 34:01 - Succession plans and family-run businesses 39:29 - Lord Lee discusses his portfolio Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Investors' Chronicle is a service by the Financial Times . Hosted on Acast. See acast.com/privacy for more information.

You can listen to Meeting Town Centre’s executive chair: Lee and the IC online on Radio and Podcast. Open the player on this page to stream the available audio.

Meeting Town Centre’s executive chair: Lee and the IC is an episode from Investors Chronicle by Investors' Chronicle.

This episode is 45:48 long.

This episode was published on Mar 17, 2026.

Yes. Use the heart button on the episode page to add it to your favorite episodes list.

Yes. This page shows related episodes from Investors Chronicle when more episodes are available from the podcast feed.