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Celebrity snapper hit by recession

PUBLISHED: 14:23 12 February 2009 | UPDATED: 15:55 07 September 2010

Katie Davies TOP celebrity photographer Rankin has fallen victim to the credit crunch, with his luxury flat development in Kentish Town failing to sell one unit despite nearing completion. The snapper, well-known for his iconic images of Kylie, Kate Moss

Katie Davies

TOP celebrity photographer Rankin has fallen victim to the credit crunch, with his luxury flat development in Kentish Town failing to sell one unit despite nearing completion.

The snapper, well-known for his iconic images of Kylie, Kate Moss and the Queen and who was co-founder of lifestyle magazine Dazed and Confused, is concerned because the Grafton Road development due to open in April has not attracted any buyers.

Named 'Annroy' after his parents Ann and Roy Waddell, the development houses the Scot's own penthouse, offices, studio and gallery as well as 11 other apartments.

But even the thought of supermodels popping round for a photo shoot hasn't convinced anyone to sign up to buy a property off-plan.

Rankin admitted he has had "sleepless nights" over the lack of sales in the development, funded by his personal wealth, but is still hopeful some buyers will come forward.

He told the Ham&High: "While the recession is affecting everyone in the UK, I'm confident that Annroy is going to be a success.

"It's a unique property situated in one of London's hottest new areas and those purchasing the flats will be able to join a thriving creative community."

The artist has invested much of his own personal fortune into the development.

It was designed by award-winning architects Trevor Horne, whose previous projects include the ICA and Victoria Miro Gallery, and is meant to resemble a roll of film.

Each apartment also has the personal touch with an original Rankin image on every front door.

Most developers aim to sell flats off-plan before construction is completed and the lack of sales is particularly shocking for a unique development in the heart of Camden.

As Rankin said in his original statement on the development: "I'm really excited to be moving to Kentish Town. I lived here in the mid 1990s and loved it.

"My vision is for Annroy to take its place at the heart of north London's cultural scene and provide a home for creative urbanites keen to become a part of such an innovative project."

A glass-fronted gallery which forms part of the development will be open for public exhibitions of the photographer's work and will open with an exhibition on the development's 11 doors. It is due to be completed in April.


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