Luxe agency Quintessentially Estates’ parent company turns to US investor for cash
Both the agency and its parent company's accounts are overdue as, even before Covid, the group was facing problems with bad debts.
The parent company of luxe estate agency Quintessentially Estates has turned to its chief investor in the US keep it going as the Covid pandemic batters the luxury services market.
Quintessential UK Ltd, which is the umbrella companies for a raft of firms offering services to the super rich including chauffeur, personal shopping, concierge and property management, has turned to US shareholder World Fuel Services for a loan, its Companies House files reveal.
These also reveal that its accounts are overdue by nearly seven months.
Quintessentially, which is operated via a franchise model overseas, was founded by Conservative party co-chairman Ben Elliott, who is also nephew of Camilla, the Duchess of Cornwall.
Its latest accounts show the company lost £3.14 million during the financial year ending 30th April 2018, up from £2.8 million the year before, created largely by writing off bad debts.
Elliott plays a leading role in fundraising for the Conservative party and was behind the much reported dinner where Richard Desmond met Housing Secretary Robert Jenrick. During the dinner the two are alleged to have discussed his redevelopment of the Westferry Printworks in Canary Wharf, which Jenrick later helped to steer through local planning difficulties.
Quintessentially Estates Ltd is headed up by CEO Penny Mosgrove (left) and, as well as a branch in London, has outposts in Los Angeles, New York, Hong Kong, Miami and Germany.
Its accounts are also overdue, by six months, and at one point in April this year the company faced compulsory strike-off action from Companies House, which was later rescinded.
Two years ago, as we reported, Quintessentially opened a hybrid property management-cum sales branch in central London.
