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Blairs can't find tenants for Foster's flats

February 1 2003

Cherie Blair was losing money on the property deal negotiated for her by
Australian conman Peter Foster, it was reported yesterday.

Mrs Blair, the wife of British Prime Minister Tony Blair, has lost almost
STG5000 ($14,000) in rent because she cannot find tenants for the flats she
bought with Foster's help and is now spending STG20,000 to furnish them.

The lost rent and furniture costs will eat into the STG69,000 discount that
Foster negotiated when Mrs Blair bought the luxury apartments in Bristol
for a total of STG525,000 two months ago.

The Blair flats are the only unoccupied ones in the block of 52, despite
Foster's boasts that the letting agents would "jump through hoops" to find
tenants as quickly as possible, British newspaper the Daily Mail said.

A Mail reporter posing as a prospective tenant was shown around the flats
this week and was told the Blairs had hired an interior designer.

Letting agent Joanne Wright told the reporter there was a glut of
unfurnished flats available, so the agency
had advised the landlords to furnish them.

"The landlord of these properties is spending about STG10,000 on the
interiors of each flat," Wright was quoted as saying.

She said the flats would be available at STG1300 a month for an indefinite
period, suggesting the Blairs had shelved plans for their oldest son Euan, a
student at nearby Bristol University, to move into one of them this
September.

Foster, the boyfriend of Mrs Blair's close friend and lifestyle adviser Carole
Caplin, helped Mrs Blair buy the flats last November.

They were bought as an investment but have so far cost STG3400 in
mortgage repayments instead of bringing in the STG4680 which would have
been paid in rent after the agent's fees were paid.

AAP

This story was found at:
http://www.smh.com.au/articles/2003/01/31/1043804522141.html
Forwarded for your information.  The text and intent of the article
have to stand on their own merits.
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