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Home » Case Studies » Fixed Charge Receivership

Fixed Charge Receivership

London, NW8


Client

Private

Property

High value flat in central London​

Project Summary

5-bedroom 3,500 ft2 flat in a prestigious, portered block opposite Lords Cricket Ground in St John’s Wood, an affluent area in Central London.  ​

The flat had multiple issues:​​

  • Originally 3 separate flats and 3 separate leasehold interests remained;​
  • Arranged over the ground and first floors;​
  • Located at the rear of the block overlooking an electrical transformer station;​
  • Dated and required modernisation;​
  • Borrower in occupation.​

The borrower was not permitted to occupy the flat and we sought possession through the courts. Having obtained possession, we dealt with clearing the borrower’s possessions.

We reviewed the viability of reconfiguring the flat back into 3 separate flats. We carried out a basic redecoration prior to marketing.   ​

We marketed the flat via an internationally recognised firm and a boutique firm of estate agents.  ​

Achieving a sale was essential given the rate at which interest was accruing. ​

Paul Joseph

020 8509 4473
paul.joseph@strettons.co.uk