07/10/2026
We created £3m of value developing this Belgravia project… then lost about £1m holding it
Bank valued it £8.25m in 2018. Just revalued at £7m.
Competitor launching adjoining Mews houses at £3,500/sqft this spring — we’re coming out at £2,500 (~£7m+). Ours has been rented at £5k/week for eight years. Prob going with Sotheby’s
Holding without a tenant is brutal — even geared at 50%. Holding fullstop has been a sh*tshow
Comment Profit if you’d like to know how I do deals now