A subsidiary of one of the capital’s biggest landlords has been put on London’s rogue landlords register and fined £67,000 for breaches of HMO licence conditions.

Lazari Properties 1, part of family-owned property group Lazari Investments, was fined seven times in relation to the condition of three flats above shops on Camden High Street, The Guardian reports.

The family has an estimated fortune of £2.5 billion from a property portfolio that includes some of the most luxurious addresses in central London as well as rental flats in the north of the city.

Cypriot-born Christos Lazari started investing in London real estate in the 1970s, acquiring property in Mayfair, Baker Street and Tottenham Court Road. His children, Leonidas, Nicholas and Andrie, have continued to grow the business since his death in 2015 and now own 3.25 million sq ft of commercial real estate in central London.

Millions

The portfolio includes 63 New Bond Street, which housed the luxury department store Fenwick. Lazari Investments is planning to spend millions more redeveloping the site, with a mix of retail and office space.

All three Lazari siblings are directors of Lazari Properties 1, which owns the Camden flats involved in the enforcement action, all of which are on Camden High Street.

In one of the HMOs, situated above a pharmacy (main picture), Camden Council found licence conditions had been breached five times, resulting in fines totalling nearly £40,000 including one for £17,500. Three of the fines relating to Lazari Properties 1 are in the serious category, while the other four would be labelled moderate.

A register of licensed HMOs released by Camden this month showed the family owned 11 such properties across the borough.

A spokesperson for Lazari Investments said: “Once we were aware of the breaches, we commenced a process to rectify them with a particular focus to ensure no tenants were at risk.”