Sunday, 18 February 2018

MOFFAT UP PIER STREET AND A SHOT ACROSS THE BOWS

Andrew and Charlotte Moffat are ex City fund managers.
Foolishly, they decided to try their hand at a bit of high-end property speculation and Chelsea boat moorings ownership

 According to the Times and the Daily Mail one of their little projects in Chelsea has got holed below the waterline.
You can read about their welcome plight HERE
£12 million?
The Moffat's bought Cresswell House for £8 million in 2012. They then spent millions buggering it up in the usual tasteless way. 
They have now had to reduce the price from £40 million to £20 million and the lenders now want their money back so have appointed receivers.
French Brothel Style

 According to the Mail "Cresswell House failed to sell after it was first put on the market through Knight Frank and Savills in 2016. 
Independent expert Richard Stanley was appointed receiver to the Jersey-based  company when Moffat's lenders ran out of patience"
The Moffats-very keen social climbers and eager to mix with "The Royalty"-ring-fenced the property in Cresswell House Finance Limited.
Let's hope other lenders are getting nervy....
The Islamic bank BLME and financier Christian Candy held shares, according to the Land Registry. 
It is unclear whether the bank put the property into receivership.



6 comments:

  1. Captain Cheyne18 February 2018 at 14:30

    Aren't these Moffat's trying to disrupt the loves of houseboat dwellers in Chelsea. They sound like a couple of grasping spivs.

    ReplyDelete
  2. TaxFree18 February 2018 at 14:53

    DAMEBLASTED! once again excellent work, thank you for sharing

    ReplyDelete
  3. Clear The Swamp18 February 2018 at 17:17

    City spivs on the make. Got caught out by bad taste. Good riddance.

    ReplyDelete
  4. ON YOUR CASE18 February 2018 at 17:57

    Interesting that the founder of BLME, the Islamic bam who lent the money is one Humphrey Percy. Humph has a mation interest in Thames moorings. Could there be a connection Battersea Pier.
    Come on, Moffat, what's going on?

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  5. Scotsman7 March 2018 at 15:46

    Moffat bought Cadogan Pier and cleared out several of the boats there to make way for a scheme to sell residential houseboats on the mooring for upwards of two million. The pier does not have residential licence, it is a leisure mooring, so he is now involved in an argument to try to get that. He sent out a prospectus extolling the virtues of the investment for those who would contribute cash so that they could make much more!! Have not heard there are any takers.

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  6. Scotsman7 March 2018 at 15:54

    Disrupting the loves and lives of houseboat dwellers in Chelsea refers to the Chelsea Yacht & Boat Company mooring. Moffat bought the shares in the company which owns as its only serious asset a River Works Licence from the PLA to offer a mooring service on a patch of foreshore mud. All the other facilities that the CY&BC occupies and uses are owned by the Freeholder, the Royal Borough of Kensington & Chelsea.
    CY&BC has a commercial Lease which was originally negotiated by the Chelsea Borough Council a long time ago.

    ReplyDelete

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