£20m home becomes UK's most expensive repossession...

15 June 2009

2741 Reads
5 Comments

Written by rosalind renshaw

A £20m home in London is said to be Britain’s most expensive-ever repossession. Hamptons and Sotheby’s have been appointed joint agents.

The property belonged to Cevden Caner, who at one time owned huge amounts of property in Germany – 28,000 residential units plus 400 commercial ones.

His firm, Level One, went into administration last September and bailiffs acting for a bank repossessed Caner’s home last week.

The house in Mayfair was bought in July 2007 for £16m. Caner is said to have refurbished it for a further £6m. Hamptons and Sotheby’s are marketing it at £20m.

The property, which has seven bedrooms and a swimming pool, has been described by the receiver, Jon Gershinson, as ‘stunning’.

It is nearly twice as valuable as Britain’s previous largest repossession, an £11m home also in London.

Comments

- Peter
Fair enough - sounds like they won't be affected much!

But a lot of ordinary people are affected by repossession daily.

If you're in this position don't go to an estate agent - they are geared up for one kind of business only. Beware of rent-back schemes... most of those guys are crooks.

Your best bet is something like a lease option, where you can hand the keys back and walk away debt-free.

There are lots of good guys out there who'll evaluate all your options and help you
Check out My House Broker: myhousebroker.co.uk/stop-repossession-now/
These guys are London-based and can help people to sell quickly for the best possible price, even with no equity.
- 07 August 2009 21:32 PM
- Miles
PeeBee or PeeBrain wass that?
- 17 June 2009 11:50 AM
- richard
Its a shame cretins like Peebee spoil the creditability of the site, time perhaps to do away with gutless moron posts hiding behind anonymity, just like the spotty oik behind the wheel of a car, all Jonnie big potatoes behind the wheel, turns to puss when confronted. Add value or shut up
- 16 June 2009 15:46 PM
- PeeBee
Don't worry that the fee is too big to split between only two agents, Wooden Top - M*******us will be right in there, creaming it off as usual...
- 15 June 2009 15:16 PM
- Wooden Top
I think there should be more than two agents commission to go around! How about multi-listing?
- 15 June 2009 15:03 PM