SEBASTIAN SHAKESPEARE: Bankrupt tycoon, 55, is forced to flog six-bedroom home at a £2m loss 

Mail Online | 1/31/2019 | Sebastian Shakespeare for the Daily Mail
joyy (Posted by) Level 3
Click For Photo:

Click For Video:

Property tycoon Kevin Cash could have been forgiven for believing that the New Year couldn’t be worse than 2018, during which he was declared bankrupt, owing creditors £40 million.

If so, he’s been swiftly disabused. For I can disclose that Birmingham-born Cash, 55, who until recently appeared in various Rich Lists with an estimated £500 million fortune, has seen his trophy London property sold off by receivers.

Bedrooms - Reception - Rooms - Terraces - Regent

With six bedrooms, three reception rooms and three terraces, the Regent’s Park property was described as being in ‘one of the most prestigious and sought after’ parts of the Crown Estate — details which presumably encouraged Cash to acquire it for £8.5 million in 2008.

Alas, bidders failed to match his enthusiasm at an auction conducted by London firm Allsop, which was handling the sale on behalf of the receiver.

Allsop - Property - Price - Declines

Allsop, which had listed the property with a guide price of ‘over £7 million’, declines to comment.

The buyer, I can reveal, is Rabia Kamani, 56, a member of the family that created online fashion powerhouse

Rabia - Brothers - Mahmud - Boohoo - Co-founder

Rabia and her brothers, Mahmud, Boohoo’s co-founder, and Nurez, pocketed more than £80 million when they sold 36.6 million shares in the company 18 months ago.

Cash, whose fourth and current wife Carla was once voted ‘sexiest woman in South Africa’ by lads’ magazine FHM, had alleged that he held the property in trust on behalf of his friend and business partner, Tony Jimenez, a Dubai-based property developer. But records showed that the pad was registered in his name.

Luck - North - Aston - Hall - Oxfordshire

Perhaps he will have more luck with North Aston Hall, the sumptuous Oxfordshire mansion where he and Carla used to spend £50,000 a month on groceries and ‘housekeeping’, and which, as I disclosed, he put on the market for £28 million last summer.

It is owned by the Rose Trust, established by his parents, Barry...
(Excerpt) Read more at: Mail Online
Wake Up To Breaking News!
Sign In or Register to comment.

Welcome to Long Room!

Where The World Finds Its News!