Re:

send more detailss„what is the rent per year?

On Mon, Apr 27, 2009 at 12:52 PM, < > wrote:
Dear Jeffrey,

I would be most grateful if you could help me with the following.

I require an entity (not me) to purchase the remaining 13 yrs on a 20 yr lease of the ground and basement of 71 Eaton Square and then hold it for me for at least 2 years..

This appartment was purchased by a dear friend of mine, whom you may already know, called Paula Cussi (widow of the Mexican media mogul Emilio Azcarraga).

She bought this appartment 3 years ago when she thought she needed to have somewhere to house her very valuable art collection that up to then had been kept in her appartment in Paris. She paid 2.5 million pounds for the lease and then a further 1M on redecoration and security. Last year she was advised for tax reasons to take all the art out of the UK or she would have been liable for huge duties and so she put the flat on the market at 3.5M last April. Needless to say the market has been pretty flat. When I last spoke to her, she menitoned she might be inclined to accept somewhere between 2M and 2.2M in order to offload it.

It would probably make sense at some point to buy a lease extenstion from the Grosvenor Estate to bring it back to 20 years.

Whilst not a steal by any means it is nevertheless good value. For reasons I will explain more fully when I next see you, I would like to obtain this and then rent it immediatly to a friend of mine for a 'peppercorn' rent.

Obviously, if you were able to do this, you (the aquisition vehicle) would own the full title until such time I took it off your hands at a suitable premium set out in agreement between us.

If you are able to do this, I could put you directly in touch with Paula's London lawyers to avoid agency fees etc.I would quite understand if this is not your cup of tea, however I cannot begin to tell you how indebted I would be if you could do this for me.

As ever,

Mark

EFTA00881821

Download AOL Toolbar and get access to all of your favourite websites and Google powered Search in an instant. Download AOL Toolbar for FREE.

EFTA00881822