Uploaded March 2026 | Updated September 2026, 2 weeks ago
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.
Read more on the topics discussed on @InvestorsChronicle :
Why investors should scrutinise Reit disposal plans - investorschronicle.co.uk/content/ef060b76-8938-47ef-a52c-4129b3694b60?utm_medium=social&utm_source=youtube&utm_campaign=editorial
How to make the most of your Isa - investorschronicle.co.uk/content-collection/e3dfebf8-dd45-44da-aff1-6d6c90b5f60c?utm_medium=social&utm_source=youtube&utm_campaign=editorial
Shipping world in chaos due to Iran conflict disruption - investorschronicle.co.uk/content/309097df-8066-4b7f-b0b5-4e891eb78167?utm_medium=social&utm_source=youtube&utm_campaign=editorial
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 on @YouTube or by heading to @Apple , @Spotify or Acast.
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
#investing #finance #personalfinance #investments #business #podcast #interview #realestate #britain #british #investing #lord #personalfinance
Listen to our podcasts: investorschronicle.co.uk/podcasts/?utm_medium=social&utm_source=youtube&utm_campaign=editorial
Subscribe to Investors' Chronicle: investorschronicle.co.uk/product-matrix?utm_medium=social&utm_source=youtube&utm_campaign=editorial
Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Our award-winning expert writers research hundreds of companies and funds suitable for all risk appetites, to provide clear, independent recommendations for individual investors who want to make their money grow and outline how to make the most of different types of investment vehicles at all stages of your life.
Follow The Companies and Markets Show on @YouTube: youtube.com/playlist?list=PLnrcXTQl38frCLdb4HDxepjhvod-gN662
Follow Lee and the IC: youtube.com/playlist?list=PLnrcXTQl38fqB-A5bJJ-GtFjm3Q9S9Xnx
Listen to our interviews here: youtube.com/playlist?list=PLnrcXTQl38fo1Oio19rTsLt9fD2s4hKst
Follow us on LinkedIn: linkedin.com/showcase/financial-times---investors-chronicle
Follow us on Instagram: instagram.com/investorschronicle/?hl=en
Get the latest investing updates on WhatsApp: whatsapp.com/channel/0029VaD6zjW9WtBxc0gFG13F
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.
Read more on the topics discussed on @InvestorsChronicle :
Why investors should scrutinise Reit disposal plans - investorschronicle.co.uk/content/ef060b76-8938-47ef-a52c-4129b3694b60?utm_medium=social&utm_source=youtube&utm_campaign=editorial
How to make the most of your Isa - investorschronicle.co.uk/content-collection/e3dfebf8-dd45-44da-aff1-6d6c90b5f60c?utm_medium=social&utm_source=youtube&utm_campaign=editorial
Shipping world in chaos due to Iran conflict disruption - investorschronicle.co.uk/content/309097df-8066-4b7f-b0b5-4e891eb78167?utm_medium=social&utm_source=youtube&utm_campaign=editorial
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 on @YouTube or by heading to @Apple , @Spotify or Acast.
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
#investing #finance #personalfinance #investments #business #podcast #interview #realestate #britain #british #investing #lord #personalfinance
Listen to our podcasts: investorschronicle.co.uk/podcasts/?utm_medium=social&utm_source=youtube&utm_campaign=editorial
Subscribe to Investors' Chronicle: investorschronicle.co.uk/product-matrix?utm_medium=social&utm_source=youtube&utm_campaign=editorial
Investors' Chronicle has supported private investors in the UK for over 160 years by highlighting rewarding investment opportunities. Our award-winning expert writers research hundreds of companies and funds suitable for all risk appetites, to provide clear, independent recommendations for individual investors who want to make their money grow and outline how to make the most of different types of investment vehicles at all stages of your life.
Follow The Companies and Markets Show on @YouTube: youtube.com/playlist?list=PLnrcXTQl38frCLdb4HDxepjhvod-gN662
Follow Lee and the IC: youtube.com/playlist?list=PLnrcXTQl38fqB-A5bJJ-GtFjm3Q9S9Xnx
Listen to our interviews here: youtube.com/playlist?list=PLnrcXTQl38fo1Oio19rTsLt9fD2s4hKst
Follow us on LinkedIn: linkedin.com/showcase/financial-times---investors-chronicle
Follow us on Instagram: instagram.com/investorschronicle/?hl=en
Get the latest investing updates on WhatsApp: whatsapp.com/channel/0029VaD6zjW9WtBxc0gFG13F
