updated 10.2.11

The Developer is Cornwall Overseas Developments Ltd, registered in the British Virgin Islands. Cornwall is 100% owned by Findon Urban Lofts plc.

Findon Urban Lofts plc is a UK registered company, formed in 2006 to carry out property developments in London. Some details of its other 6 developments are shown on the page “Findon’s Other Developments”. Its developments are marketed by Union Developments, a grouping set up specially for that purpose. The Dalby Street development appeared briefly on the site in 2008 or 9 and reappeared in late 2010 always under the name "Prince of Wales". They advertise the flats before and during construction – known as pre-selling. Buyers for its other developments have been sought and found in Hong Kong and Singapore.

Findon is beneficially owned by the Laznik family and is described as a family business. It raises finance partly through bond issues quoted on the Tel Aviv stock exchange (TASE).

In August 2006 Findon bought its first three developments for £800,248. One of these was Dalby Street ie Cornwall Overseas Developments (usually referred to as POW in Findon documents). POW was shown later as being expected to make a profit of £7,782,000. We don’t know exactly how much Findon paid for Cornwall though it is included in the £800,248 above. Cornwall is shown in the land registry as having bought the development from TRAC Properties in May 2006 for £3.5 million. At that time, Cornwall was a wholly owned subsidiary of TRAC. TRAC's accounts show no amounts of the magnitude of £3.5m up to 31.3.10 when last registered

Some of these links will be of interest:

The Tel Aviv stock exchange (TASE) site page for Findon Urban Lofts Ltd's bond issue. At the bottom of that page are links to Financial Statements (Hebrew only), Recent Company Disclosures (Hebrew only), Corporate actions and For Financial Statements Key Data. If you click on the latter, you will get an English language version of the Financial Statements - they are very abbreviated quarterly accounts.

Union Developments web site. Note the details of the members under “About Union" and "Profiles" which is within the Home tab. One is David Pollock of Greene & Co which sometimes trades as "Home". He presumably is the justification for Camden Council at the public inquiry saying that Findon had links in North London. Its office is at 146 West End Lane. It is two doors away from Paramount Properties which provided the letter used by Findon at the public inquiry as part of AP19 stating that Dalby Street is in the vicinity of Primrose Hill and providing property values to justify a schedule showing, for example, three bedroom flats being saleable (in January 2008) for between £850,000 and £1.25m.