Is Edoardo Mapelli Mozzi launching his property development firm in the Alps? Princess Beatrice’s husband hints at expansion in ‘the mountains’ – after Prince Andrew was forced to sell £17million Verbier chalet due to debt
- Edo runs the property development and interior design company Banda
- Shared snap on Instagram of snowy scenes with words ‘Banda in the mountains’
- Comes after news Prince Andrew will sell his own £17 million Swiss chalet
- French socialite Isabelle de Rouvre, 74, sued the Prince and ex-wife Sarah Ferguson last year over £6.6million she claimed they still owed for the property
Princess Beatrice’s husband Edoardo Mapelli Mozzi has hinted that he is expanding his property development business into the Alps – months after it emerged Prince Andrew was being forced to sell his £17 million chalet.
London-born Edo, 37, runs the property development and interior design firm Banda, which he started age 23.
Its aim is to design homes for affluent clients in ‘undervalued’ parts of London, getting them value for money.
However it now appears the Italian property developer is expanding to the Alps, after he shared several images on his Instagram page of snow backdrops alongside the words: ‘Banda in the mountains.’
It comes after reports in September that the Duke of York was close to selling his £17million Swiss chalet to settle a legal dispute with the former owner.
Princess Beatrice’s husband Edoardo Mapelli Mozzi has hinted that he is expanding his property development business into the Alps
Edo’s property business Banda has been based in London – however last night he shared several shots of snowy chalet buildings alongside the words: ‘Banda in the mountains’
Edo shared several snaps on his Instagram stories last night which showed an unidentified snowy wooden chalet with beautiful white mountains in the background.
Text over the top of the images read: ‘Banda Design Studio in the mountains.’
The expansion abroad would mark the first time the property developer has worked internationally.
He previously worked to develop residential properties for high-end clients in London.
The move comes after reports in September that the Duke of York was close to selling his £17million Swiss chalet to settle a legal dispute with the former owner (pictured)
The father-of-two posted several images of snowy mountains and tagged his development company Banda Property in the snaps (pictured)
His mantra was challenged by property experts on social media, who argued that ‘there is nothing undervalued in Notting Hill’ – where one of Edo’s latest projects was.
They described the affluent in the west London district as ‘a super prime residential destination’.
Banda’s Instagram page recently shared a series of images of a glamorous refurbishment in Leinster Square, on the cusp of Westbourne and Notting Hill.
Edo holds directorships in a number of companies, some of them alongside his mother and his brother-in-law, Tod Yeomans.
The French socialite Isabelle de Rouvre, 74, sued Andrew and his ex-wife Sarah, both 61, last year over £6.6million she claimed they still owed her
Ahead of the 2016 London mayoral election, Edo wrote an article for Property Week urging the future mayor to insist on redevelopment projects in central London.
Edo’s apparent decision to expand into mountain property comes as his father-in-law Prince Andrew was set to sell his ski chalet in Verbier.
The Duke of York is understood to have reached an agreement with Isabelle de Rouvre, 74, to drop proceedings with the imminent sale.
The French socialite sued Andrew and his ex-wife Sarah, both 61, last year over £6.6million she claimed they still owed her.
The Yorks bought the seven-bedroom Chalet Helora from Miss de Rouvre in 2014 for £16.6million, but she alleged they missed the final instalment on January 1, 2020.
The Yorks became friends with Miss de Rouvre after regularly renting the chalet for holidays with their children, Beatrice and Eugenie (pictured)
She took the case to the Swiss courts demanding the money for the property in Verbier, equipped with an indoor swimming pool which costs up to £22,000 a week to rent.
But now that it is being sold for close to the asking price of £17.3million, she has agreed to drop proceedings, The Sunday Times reported.
The Yorks intend to repay their debt once the sale goes through. It was first reported the chalet was for sale last year. A source said: ‘The matter is close to being resolved to everybody’s mutual satisfaction.’
The Yorks became friends with Miss de Rouvre after regularly renting the chalet for holidays with their children, Beatrice and Eugenie.
Prince Andrew and his ex-wife bought it with a mortgage and private funding from the Queen as a ‘long-term family investment’, sources claimed.
When the sale is complete, the duke will no longer own any property, it is believed.
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