Polygon Investment Partners’ Reade Griffiths is feeling a little bit cramped in his adjoining townhouses in the Royal Borough of Kensington and Chelsea. An extra 10,000 square feet or so—complete with a pool and spa—should do the trick.
Unfortunately for the claustrophobic Mr. Griffiths, he’s going to have to pay a 20% “house the poors” tax to get permission to actually build the £4 million, two-story lair, which through the magic of real-estate will turn into £10 million in added value. It is unclear what Reade’s £825K will actually be used for, since there are not any poor people in the Royal Borough of Kensington and Chelsea. Read more »