64 Eaton Mews North London SW1

Description: A two story mews house benefiting with off street parking and lateral accommodation.

Investment strategy:

The property was acquired to gain exposure to the prime residential market in Knightsbridge and would benefit from further upside in obtaining a suitable planning consent.  

After buying the short leasehold interest we had to negotiate with the freeholder was Grosvenor Estate with an intermediate short lease (35 years) to Atlantic Bay Finance.  Both landlords had an absolute prohibition on structural alterations.  After reaching an agreement to lift the restrictions a planning application was made for an additional floor. 

Endurance Land in turn negotiated with both landlords to extended the lease as well as agreeing a comprehensive schedule of works for the development and refurbishment of the premises.  All building control, fire assessments and party wall consents where obtained prior to the signing of the lease.  On obtaining planning permission the building was sold in Sumer 2005. 

Funding was provided by Dunbar Bank PLC.

Contact:  Endurance Land Ltd 0207 494 9886