The former Mayfair headquarters of collapsed specialist lender Market Financial Solutions (MFS) has been brought to market with a guide price of more than £11.5 million, marking the latest asset sale linked to the lender’s ongoing administration.
Administrators Nick Edwards and Graham Bushby of RSM, acting for Mayfair (HS) Limited, have appointed Watling Real Estate to market the freehold property at 46 Hertford Street, a Grade II-listed Georgian townhouse in the heart of Mayfair.
The building, which served as MFS’s headquarters prior to the lender’s collapse in February, extends to approximately 5,053 sq ft (6,278 sq ft GIA) across the lower ground, ground and four upper floors.
It is being offered as a freehold office investment, with a lapsed 2015 planning consent to convert the upper floors into four one-bedroom apartments.
Situated close to Park Lane, Curzon Street and Shepherd Market, the property retains many original Georgian features and is being marketed as a rare central London development and investment opportunity.
MFS entered administration earlier this year following allegations of financial irregularities, triggering one of the most significant failures the specialist property finance sector has experienced in recent years.
Founded in 2006, the lender built a loan book of more than £2 billion from its Hertford Street base, specialising in bridging loans and buy-to-let finance before its collapse prompted investigations by the Financial Conduct Authority and extensive recovery action by administrators.
The sale of 46 Hertford Street forms part of the wider disposal of assets connected to the MFS group as administrators seek to maximise recoveries for creditors.
It follows other court-approved asset sales linked to the administration as legal proceedings continue against former owner Paresh Raja, who denies the allegations made against him.
RARE OPPORTUNITY
Jamie Lamond, a director in the London office of Watling, says: “This is an exceptionally rare opportunity to acquire a freehold townhouse / office in the heart of Mayfair and close to Park Lane, Curzon Street and Shepherd Market.”
The Georgian townhouse features original period details throughout, and extends to approximately 5,053 sq ft (NIA) over, lower-ground, ground and four upper floors.
Lamond explained that there was also a lapsed 2015 planning permission to convert the upper parts into four one bedroom apartments.
The property is located towards the eastern end of Hertford Street, close to its junction with Shepherd Street.
HISTORIC HAVEN
Lamond adds: “Hertford Street is famous for being a quiet, historic residential haven right in the heart of Mayfair. It is close to the commercial heart of London and yet only a short walk from both Hyde Park and Green Park.
“With Shepherd Market on the doorstep too, there is easy access to a bustling area packed with boutique shops, traditional British pubs, and gourmet restaurants.
“Mayfair is a world famous address which is synonymous with some of the world’s most prestigious retailers, fashion houses, art galleries, jewellers, and haute couture brands, and we are anticipating strong interest in the chance to acquire a property with so much asset management potential, subject to planning permission.”
