NAMA has appointed CB Richard Ellis to act as lead LPA receiver to Updown Court, a 103-room Italianate mansion in Windlesham, Surrey.
The 58-acre estate, which is owned by Leslie Allen-Vercoe, was put on the market six years ago with Irish Nationwide backing the mansion’s renovation by lending Allen-Vercoe £63m.
However, after the refurbishment was complete, the residence, which contains 24 bedrooms, five swimming pools, tennis courts, a cinema and a panic room, has been left sitting on the market.
Following Irish Nationwide’s nationalisation last year and still no sign of a buyer, NAMA has stepped in to handle the sale of the estate.
The 50,000 sq ft property is larger in size than both Buckingham Palace and Hampton Court Palace.
james.a.kenny@estatesgazette.com
