MSC Property Intermediate Holdings Limited
Registered name: MSC PROPERTY INTERMEDIATE HOLDINGS LIMITED
Part of Norges Bank groupMSC Property Intermediate Holdings Limited made £89.2m revenue and £67.4m profit in the year to 31 Mar 2025.
MSC Property Intermediate Holdings Limited’s revenue fell 3% to £89.2m in the year to 31 Mar 2025, with £67.4m profit. The company is classified under “development of building projects” and is based in London; we hold 3 years of its filed accounts.
- Status
- Active
- Location
- London
- Age
- 25 yrs · since 2001
- Type
- Private Limited Company
Key figures
Financial history
| Year to | 31 Mar 2023 | 31 Mar 2024 | 31 Mar 2025 |
|---|---|---|---|
| Disclosure | Profit & loss | Profit & loss | Profit & loss |
| Profit & loss | |||
| Revenue (turnover) | £80.3m | £92m | £89.2m |
| Cost of sales | −£23.9m | −£22.6m | −£26.3m |
| Gross profit | £56.4m | £69.3m | £63m |
| Operating profit | £52.8m | £65.9m | £57.6m |
| Profit before tax | −£69.1m | £28m | £69m |
| Profit after tax | −£71m | £24m | £67.4m |
| Profit (best available) | −£71m | £24m | £67.4m |
| Employees (average) | — | — | — |
| Ratios | |||
| Profit margin | −88.4% | 26.1% | 75.5% |
| Gross margin | 70.2% | 75.4% | 70.5% |
| Growth (year on year) | |||
| Revenue growth | — | ▲14.5% | ▼3% |
| Profit growth | — | — | ▲180.7% |
| Balance sheet — indirect signals, not revenue | |||
| Net assets | — | — | — |
| Source | Accounts · bulk data Jul 2024 | Accounts · bulk data Jul 2024 | Accounts · bulk data Dec 2025 |
How the business works
- Profit margin
- 75.5%
- Profit ÷ revenue.
- Gross margin
- 70.5%
- Gross profit ÷ revenue. High for software and services.
- Revenue per employee
- —
- Revenue ÷ average employees.
- Profit per employee
- —
- Profit ÷ average employees.
- Cash conversion
- —
- Cash generated from operations ÷ operating profit. Needs a cash-flow statement.
- Fixed assets ÷ revenue
- —
- Capital intensity. Low = capital-light, cheaper to start.
- Deferred income ÷ revenue
- —
- Customers paying upfront (subscriptions, deposits). Approximate when combined with accruals.
- Debtors ÷ revenue
- —
- Money owed by customers. Low = customers pay quickly.
Balance-sheet signals
Year-on-year changes in filed balance-sheet items. They can hint at momentum (or investment) but are not revenue or profit and must not be read as such.
- Net assets
- —
- Now —
- Cash at bank
- —
- Now —
- Headcount
- —
- Now —
- Deferred income
- —
- Now —
- Fixed assets
- —
- Now —
Group structure
Ownership chain
- Norges Bank (registered outside the UK register)ultimate parent75–100%
- Nbim Burlington Holdings Limited75–100%
- Nbim Victoria Limited75–100%
- MSC Property Intermediate Holdings Limitedthis company
Bands show the share of ownership each company holds in the one below it.
Subsidiaries (3)
- Meadowhall Contracts LimitedFigures not disclosed
- Meadowhall Shopping Centre Property Holdings LimitedFigures not disclosed
- MSC Developer Company LimitedFigures not disclosed
From the Persons with Significant Control register (corporate controllers only).
Sources
Latest figures from accounts for the year to 31 Mar 2025 (profit £67.4m), from the Companies House accounts bulk data published Dec 2025. Spotted an error? Request a correction.
Updated from Companies House on 17 Oct 2026