GAM director Mark Hawtin has been slammed by Ruby Wax over his plans to build a basement extension at his Notting Hill home.
According to the Evening Standard, Hawtin has upset the locals by seeking permission to create a second basement extension on the property, which is reported to be worth £8 million.
The paper claims Hawtin wants the extension to house a gym, an office, kitchen and family room.
The local community has described the move as an ‘unauthorised land grab’ highlighting it excavates public land 5.5 feet under a pavement.
Comedian Wax (pictured), who lives nearby, is among those most irate. She told the Standard: ‘I think it’s revolting. There is a really problem with the “whose kitchen is the largest” mentality. I know people who have built vineyards under their houses.
She added: ‘If you want a large house, go and live in Hampstead. We have to get behind this push to stop the plans. If we don’t the situation will get worse and worse.’
Meanwhile the author of international bestseller Notting Hill Rachael Johnson, who lives opposite, described the plans as a ‘disaster’ while highlighting residents could face up to ‘78 weeks of disruption and 58 lorry movements’.
Residents are said to have met on Monday night to discuss how they can convince Chelsea and Kensington councils to refuse Hawtin planning permission.
While the Standard was unable reach Hawtin, who is out of the country, it managed to contact his architect Tom Croft who said council planners had no objections to the extension and that they had ‘gone out of their way’ to keep neighbours informed.
Hawtin was a partner at hedge fund giant Marshall Wace Asset Management before he joined GAM in 2008 where he runs the GAM Star Technology fund, which launched in February 2011. He also manages a European absolute return equity fund.
According to Lipper the tech fund has suffered a loss of -1.1% in 12 months to 8 April versus a 0.1% decline of in the FTSE AW/Technology index.
Wealth Manager could not reach Croft or Hawtin for comment