Avalanche of subsidence claims could put insurance firms on shaky ground
The aftermath of the long hot summer of 1976 saw a wave of subsidence claims across the UK, notes Trevor Abrahmsohn, and insurance firms may need to brace themselves as history repeats...
Trevor Abrahmsohn founded Glentree Estates in 1976. He has since sold some of the most notable and largest mansions in London to such luminaries as the Kazak billionaire who bought Toprak Mansion in the Bishops Avenue for a reputed £50 million; Witanhurst, the second largest home in London, for £50 million, and the Eccleston mansion in Kensington Palace Gardens for $100 million. A-list clients include Lakshmi Mittal, Sir Martin Sorrell, Richard Caring, Richard Desmond, Joan Collins, Gerald Ronson, Lulu and other celebrities. Former Prime Minister, Lady Thatcher has been to his house for tea and President Mikhail Gorbachev was the guest of honour at his company’s 33rd anniversary party at Toprak Mansion. He has sold over £3 billion worth of property in 35 years.