In 1974, Britain's economy was unravelling. The global oil crisis had sent inflation soaring, wreaking havoc on industries and tightening financial markets. With wages failing to keep pace, the once-buoyant property market was sliding into uncertainty. As mortgage rates soared and access to development loans became increasingly restricted, the outlook for property developers became treacherous overnight.
Amid this turmoil, Michael Shanly stood at a construction site by the river in Maidenhead, taking over the day-to-day site management to help keep costs down. For most developers, the next move would have been to wait—pause, hold off, hope that the market would steady itself.
Recognising Opportunity in Crisis
On the property sat an existing house earmarked for demolition, and in it Shanly saw an opportunity: convert it into rental flats and provide a steady income stream to sustain the project. As the wider housing market struggled, this decision kept cash flowing, offering stability and enabling him to push ahead.
When the dust settled, that single decision led to a bigger realisation: property investment didn't have to be driven by short-term gains. If managed well, an income-generating property portfolio could provide stability through economic fluctuations and shifting market conditions. That insight became the cornerstone of Sorbon Estates, a business founded by Shanly on the belief that holding and nurturing properties was a more sustainable strategy than flipping them.
This instinct to recognise potential and rebuild with purpose would define Shanly's life. It had guided him as a young man working two jobs to save enough to purchase his first property in Pinner. Growing up in Eastcote, Shanly had left school at 14 with no qualifications but plenty of determination. Cycling past a derelict house in North West London each day, he would think to himself, "One day, I want to buy that house and do it up." Where others saw something broken, he imagined what it could become.
For over 55 years, that single converted house has grown into a vast portfolio: over 1,500 tenants, built not for quick profits, but for longevity. Shanly's commitment to long-term investment and strong tenant relationships through Sorbon Estates has done more than build a successful business. Meanwhile, Shanly Homes has evolved into a respected residential developer, known for its meticulous attention to detail and commitment to creating lasting value in the communities where it builds.
A Smarter Strategy for Property Developers
For decades, UK property developers and investors have approached commercial property as a short-term bet: buy, develop, lease, and sell on. That model works well in a booming market, but when economic uncertainty sets in—when consumers stop spending and shopping centres become desolate—the flaws in the system become glaringly obvious.
Yet some property owners never appear to struggle. They don't churn through tenants, they don't panic when market conditions change, and they keep their long-term goals in sight. As is the case with Shanly’s view on high streets, they see it as a long-term ecosystem to be sustained rather than exploited. That long-term approach is central to Shanly's vision. Since its inception, Sorbon Estates has done what many commercial developers resist, holding onto their properties for the long term.
A property owner with a long-term stake has little reason to take the highest bidder and simply hope for the best. The priority is securing tenants with real staying power. That's why more than half of Sorbon's retail tenants are independents—a stark contrast to the UK's chain-dominated high streets, which have been hollowed out by closures over the past decade. Big chains offer stability until they don't, and when they collapse, they rarely do so quietly. Their closures leave gaping voids, pulling entire districts into decline. Independent businesses, by contrast, attract loyal customers and define a neighbourhood's character.
As the historical analysis of UK property cycles shows, these market movements are asymmetric—upswings typically last about 9.5 years while downturns persist for around 5 years. By maintaining a long-term perspective, Shanly's businesses have been positioned to weather these inevitable downturns while capitalising on the longer growth periods.
Chapel Arches: A Model for Residential Development
Shanly's philosophy is equal parts pragmatism and vision. It rests on the principle that true development is not about speed or cost-cutting, but about crafting spaces with lasting value that meet the needs of their communities and endure for generations. Nowhere is this more evident than in Shanly Homes' approach to residential development.
While many regeneration projects focus on flashy retail complexes or isolated housing developments, Chapel Arches by Shanly Homes adopted a mixed-use approach to create a vibrant community hub with enduring appeal. Spanning three main phases—Waterside Quarter, The Picturehouse, and Chapel Wharf—the development has delivered 259 new homes alongside 30,000 square feet of commercial space to the heart of Maidenhead. The commercial space has all been retained and maintained by Sorbon Estates enabling a careful curation of tenants to ensure the long-term success of the project.
Chapel Arches has revitalised Maidenhead's waterways, combining restoration with traditional yet contemporary design to celebrate the town's distinctive character. Around a large basin, which serves as the centrepiece of the development, are spaces designed to support both residential life and community activities. A newly constructed footbridge improves connectivity, while a 200-seat waterside amphitheatre, built by Shanly Homes, provides a communal space for public gatherings.
The impact of Chapel Arches has been transformative. Nearly a million visitors now pass through the area each year, and the project has received significant accolades, including the RICS Regeneration Award and the Maidenhead Civic Society Design Award, for its role in positioning Maidenhead as a model for modern regeneration. It stands as testament to Shanly Homes' commitment to creating not just houses, but homes within thriving communities.
How Pop-Ups Keep Retail Spaces Thriving
If a high street is only as strong as its shopfronts then a vacant unit should be taken as a warning sign. Empty spaces don't go unnoticed; they signal decline across the entire area. Footfall inevitably drops, triggering a chain reaction that makes shopfronts less visible and retail spaces less appealing.
This is the point where most property owners hesitate, yet while they wait for a new tenant to emerge the damage is already being done. Reflecting his early understanding of resilience, Shanly has taken a different approach to ensure that retail spaces remain active and relevant. Since 2012—well before pop-ups were widely recognised as a viable retail strategy—the firm has actively embraced short-term pop-ups to keep its properties dynamic.
A shopfront that's open, even temporarily, retains visibility. It creates a sense of activity, draws in footfall, and increases the likelihood of future tenants committing. And, just as importantly, it broadens access to the retail market.
For small businesses, pop ups provide a rare entry point into a system that is often difficult to break into. The cost of a permanent lease is out of reach for many emerging brands, leaving the high street feeling like an exclusive club reserved for chains and established retailers. A short-term lease offers a trial period, an opportunity to build a customer base, and, for some, a stepping stone to securing a permanent shopfront. It's no surprise that many of Sorbon's pop-ups go on to secure permanent leases—when a business succeeds, both the tenant and the property owner stand to gain.
Building Homes That Last
Shanly's work in residential development through Shanly Homes demonstrates his principle in action, reflecting a commitment to creating spaces that are not only functional but closely tied to the identity and needs of their surroundings. It's an approach rooted in humility: the belief that development should integrate into a community, rather than impose upon it.
Large-scale, profit-driven housing projects often leave behind generic spaces that fail to reflect the unique needs of the communities they serve, but in concentrating efforts on towns like Maidenhead, Shanly has challenged the prevailing narrative of globalised, one-size-fits-all development. True regeneration goes beyond bricks and mortar, requiring developers to engage with a town's history while also imagining what it could become—not just for the next quarter, but the next generation.
This philosophy is equal parts pragmatism and vision. It rests on the principle that true development is not about speed or cost-cutting, but about crafting homes with lasting value that meet the needs of their communities and endure for generations. While many developers focus on maximising short-term returns, Shanly Homes has maintained a meticulous attention to detail that places purpose alongside profit.
Through the property market's numerous booms and busts over five decades, this approach has enabled Shanly Homes to navigate economic uncertainty with resilience, continuing to deliver quality residential developments even when others in the sector have struggled. By focusing on the long-term value of properties rather than quick turnover, Shanly has established a different model for residential development—one that creates places where people can connect and thrive.
A High Street That Moves With the Times
If the past decade has shown anything, it's that the high street has changed for good—and it won't be going back. A shopfront is no guarantee of success, retail no longer follows old rules, and landlords still waiting for things to 'return to normal' are clinging to a reality that no longer exists.
The UK's commercial property market has already changed. E-commerce has transformed shopping habits, economic uncertainty has made businesses wary of long leases, and high streets that once felt predictable now seem open to reinvention. Landlords who view these changes as an opportunity rather than a setback are the ones who will endure. This is why flexibility is no longer optional—it is the foundation of the future. Short-term retail, pop-ups, and proactive tenant engagement are not just tactics to fill space—they are the building blocks of a high street that functions effectively.
As the UK faces new economic challenges—from persistent inflation to the unwinding of pandemic-era policies—Michael Shanly's approach offers enduring lessons. The property market's response to these challenges will likely be complex, with higher interest rates creating headwinds while supply constraints and changing demographics provide countervailing support.
Shanly grasped this long before it became accepted wisdom. In 1974, his decision to convert an empty house into rental flats was not just about weathering a financial downturn—it was about recognising that property holds value when it is actively used. Half a century on, the lesson remains the same. The future of property isn't about waiting for ideal conditions—it's about actively shaping spaces where businesses and communities have the best chance to thrive, regardless of economic cycles.
