From eFinancialCareers, December 2:
Giles Godfrey knows a thing or two about getting maximum value out of distressed assets. Up until 2017, he was the Head of Non-Traded Assets in the Barclays “Non Core” business unit. Since then, he’s been a Senior Advisor to Keypoint Financial, a boutique capital markets advisory business specialising in advising companies on the sale of non-core divisions. However, if you look him up on LinkedIn, you’ll see that his current top job is as owner of Keythorpe Hall in Leicestershire, a country manor house that he’s spent nearly the last ten years renovating.
Taking on a property like this is always a gamble. Any big, old building has the potential to become a money pit* capable of taxing even the best-paid banker’s financial resources. The two biggest financial risks are that someone involved gets carried away with the interior décor, or the heritage preservation authorities start taking an interest, and it’s entirely possible to be afflicted by both, simultaneously and in waves. Luckily for Mr Godfrey, he seems to have had a lot of assistance from his partner and to have avoided being forced into too many absurdly expensive historically authentic touches. It must have helped that his partner, Barbara van Teeffelen is also a banker, having spent a career in high yield credit and securitization sales. According to the reviews, they renovated the place “single-handedly”, although it’s likely that they got at least a few tradespeople in to handle the plastering and such....
....MUCH MORE
Well, if you are going to be an hotelier, it might as well be for £14k per night vs. £140.
*Sometimes properties don't "become" money pits, they are intended as money pits:
Meanwhile in London: Hong Kong Gentleman Buys Fixer-Upper Home For $276 Million, Plans To Spend Up To $277 Million For Renovation
It's quite a large home (62,000 ft²/5760m²) so you know how it goes when you get started on a remodeling project and there's just "one more thing" you want to add and then "one more thing" and then before you know it you've gone and spent $277 million on the upgrade....
I'm guessing this fellow just wanted to get $550 million out of Beijing's rapacious grasp
