Forest Road, London E17
A grade II listed 18th century mansion, originally with fine views, once owned by the Wigram family along with ‘Brookscroft’ and Walthamstow House. The original building was turned in to a hospital at various times and became owned by the local NHS trust.
The building suffered from severe structural defects at one corner and the owners sought to demolish the building. English Heritage called in the local Building Preservation Trust (HOLTOP) to find a solution.
With funding offers from HLF, EH, AHF and others in place, the owners agreed to transfer the freehold of the building for a nominal sum plus a dowry. The project involved assessing long term market values that would underpin development finance to fund the conservation project.
On completion, the Health Trust took a lease from HOLTOP for use as its headquarters building and the rental reserved under the lease secures a commercial bank loan. This has saved an important local building and retained an economic unit for long-term future use.