Scarborough Group International

Kevin McCabe, Scarborough Group and Sheffield United Chairman, has been honoured with an international fellowship award for his outstanding contribution to building business and sporting relations between China and Britain.

Kevin McCabe (Scarborough Group and Sheffield United Chairman), Graham Perry (Hon Vice-Chairman 48 Group Club) and Daniel Jacoel (Chairman of Young Icebreakers)

The award, instigated by Chinese Premier Wen Jiabao and endorsed by President Hu Jintao, was presented to McCabe at the Yorkshire and Humber Chinese New Year Dinner, at Bramall Lane, Sheffield, on Thursday 11 February. The event was organised by ConnectChina in association with the 48 Group Club.

McCabe joins an exclusive list of Fellowship awardees including former Prime Minister Tony Blair, Sir Alex Ferguson and Lord Andrew Lloyd Webber.

Speaking at the ceremony, McCabe said: “I am very honoured that Scarborough Group’s business and sporting interests in China have contributed to my Fellowship Award.

“I look forward to working closely with the 48 Group Club and ConnectChina to open up new pathways directly between Britain and China.

“Scarborough’s partnership with Top Spring and Sheffield United’s partnership with Chengdu Blades perfectly reflect the growing connection Britain enjoys with China.”

The Chinese New Year celebration also incorporated the annual Yorkshire and Humber China Business Awards, which acknowledge businesses that have made significant contributions to developing international network links with China.

Sheffield United Football Club was one of three organisations shortlisted for the Best China Business award.

The Scarborough Group has actively invested in the property sector in China since 2003 and the most high profile project is the partnership with the Top Spring Group, in which Scarborough has a substantial stake and McCabe is vice-chairman.

Top Spring is engaged in integrated urban community development, upscale residential and commercial property development.

The company has a footprint that spans 11 major and fast-growing cities across China. Scarborough Group has been cooperating with Top Spring on six projects with a total gross floor area of 2.35 million square meters.

Top Spring is currently in the process of listing on the Hong Kong Stock Exchange and it is expected to be listed during 2010. It made profits of more than HK$450 million in 2009 and is projecting close to HK$1bn in 2010.

Scarborough also has a significant stake in Rainbow Department Stores, following its demerger from Top Spring during 2009. Rainbow has operated department stores and supermarket businesses since 1985 and currently has 37 units.

Rainbow is also undertaking an IPO in China on the Shenzhen Exchange and is expected to be listed around the middle of this year. The company made profits of more than RMB350 million in 2009.

Kevin McCabe has also led the expansion of Scarborough’s serviced office division into China, opening the first Forsyth Business Centre in Shenzhen in 2004, followed by a second in Hong Kong in 2007. A third centre in Shanghai will open in early 2011.

The Scarborough Group’s leisure interests include a controlling stake in the Chinese football club, Chengdu Blades. This acquisition marked the first foreign ownership of a Chinese football club.

This successful international business model provides commercial partners with the opportunity to expand into Asia and reach a global audience. The innovative blueprint has already helped Sheffield United secure international commercial deals with the GAC Group and Capita Symonds.

One of the highlights of United’s partnership with Chengdu Blades has led to the recent launch of the Chengdu Blades Academy. The ambition of both clubs is for the Academy to become a recognised football centre of excellence in China that will contribute to the future success not only of the Blades, but Chinese football in general.

Sheffield United and Chengdu Blades, with Kevin McCabe at the helm, have helped to link the cities Sheffield and Chengdu. A twinning agreement will be signed shortly with a delegation from Sheffield Council scheduled to visit Chengdu in late March.

ENDS

Notes to Editors:
ConnectChina is an organisation attributed to helping British businesses develop trade and investment within China, while the 48 Group Club is an independent business network committed to promoting positive Sino-UK relations.