HBOS lost hundreds of millions of pounds, and Peter Cummings, the banker who had promoted the joint investments in Kemsley's portfolio, was fined £500,000 by the FSA in 2012. The administrator PwC began selling the major properties of the portfolio, which included the Selhurst Park stadium, in October 2009. However, in the wake of the financial crisis of 2007–2010, Rock was placed into administration in June 2009, ending Kemsley's involvement. It set up a joint venture with HBOS to build a £1bn property portfolio. Lewis parted from the company around that time. īy 2007, Rock's property portfolio was valued at £750 million. It also had a private hedge fund that specialised in acquiring strategic stakes in public companies, the most well-known being their 28% share in Countryside Properties plc in 2004, which they sold to the chairman for a profit of £12 million. Rock was an investor and developer of commercial and residential property, but specialised in land trading. In 1992, he decided to leave and join his old friend Ashley at Sports Direct where he helped to expand the group.īy 1995, Kemsley wanted to start his own business and he established a property and securities company with 'the £1,800 he had left in his pocket.' This was Rock Joint Ventures Ltd, formed with Joe Lewis of ENIC Group, a British investment company, and Spurs chairman Daniel Levy. Then, from 1985 to 1992, Kemsley worked as an agent at the commercial real-estate firm Ross Jaye.

Kemsley left school in 1984, at the age of 17, and began working at Gross Fine as a junior surveyor. They would play darts for money on quiet afternoons. At the age of 15 Kemsley worked on Saturdays at John Paul Menswear, which led him to meeting Mike Ashley, who opened his first Sports World equipment outlet across the road. He was educated at Atholl School in Rayners Lane, Harrow.

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