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June 2004: Audley Square and Farm Street, Mayfair, W1

  1. 5 Audley Square (Car Park): 317 spaces with planning permission to demolish and build a 90 unit Apartment Hotel with 207 underground parking spaces next the 5 Star Dorchester Hotel, overlooking Hyde Park in Prestigious Mayfair in London.
  2. 21-23 Farm Street: Council Cleaning Depot with planning permission to demolish and build a block of flats, 14 units, (6×3 bedrooms/ 2 bathrooms and 8×2 bedrooms/2 bathrooms) plus underground parking for 14 cars close to Berkeley Square in London.

Acting on behalf of the purchasers Mr Poulengeris conducted all negotiations with the City of Westminster, Estate department, their solicitors and their agents. Once purchased Mr Poulengeris introduced a tenant for the car park and petrol station, paying rent, in total, of £522, 000.00 p.a. The properties were resold approx.18 months from the purchase date for a price in excess of £55 million pounds.


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