The group is seeking valuation advice on Grade I listed 6-10 Cambridge Terrace and 1-2 Chester Gate, NW1. It has consent to redevelop the terrace of seven offices into a 50,000 sq ft mansion that could have a £200m gross development value.
It comes less than a year after Marcus Cooper took a 150-year residential lease on the properties from freeholder Crown Estate to smooth the restoration of the Regency-style terrace.
Sources said the proposed super-prime mansion was likely to attract strong interest from wealthy overseas owner-occupiers.
Marcus Cooper bought the 99-year commercial lease on the John Nash-designed buildings in 2007 for £23.7m using Anglo Irish debt. But the lease was effectively transferred into the ownership of Ireland’s National Asset Management Agency in February 2013, following the liquidation of Anglo Irish successor the Irish Bank Resolution Company.
The residential lease secured in June 2013 allowed Marcus Cooper to progress a planning permission granted in 2010 to convert the property.
The redevelopment plans include building an underground entertainment complex with a swimming pool, hot tub, bar and cinema. The property would have at least 50,000 sq ft of living space, including 15 bedrooms as well as music, smoking and billiards rooms.
In April 2013, Marcus Cooper sold three nearby terraces to the Qatari royal family for £120m.
Knight Frank is advising Marcus Cooper.
