Residential developer Martin Skinner has died on a trip to Dubai, aged 42.
Skinner was well-known in the industry as a property entrepreneur and the founder of office-to-resi developer Inspired, pioneering micro-flat development around London and the South East.
Skinner was known for his love of fast cars and partying. But he also struggled with excessive drug-taking, which led to a high-profile arrest in 2019. He had been fighting to keep his business afloat, but people close to the situation described his imprisonment as “the straw that broke the camel’s back”, resulting in the business falling into administration and Skinner’s own bankruptcy that same year.
Skinner had been looking to restart his property business and trying to buy back former Inspired assets. He was exploring film and music opportunities in entertainment with a festival to raise awareness for mental health, as well as other ventures in oil and gas, and further investment planned via his new business Relentless Capital.
Skinner had shared that he was visiting Dubai “to get deals done” and spend time with his girlfriend, Russian model Olga Velskaya.
Close friends were told of his death early yesterday morning, with further announcements and tributes from friends and industry figures posted on social media yesterday. He is believed to have died from a heart attack.
London-based entrepreneur and good friend Steve Mason said: “Everyone knew him by his laugh, it was so loud and prominent. That and his relentlessness. He had such a passion.
“He was determined to give back. He was exploring a million and one things.”
Guy Harrington, chief executive of Glenhawk, said: “Whatever you thought of him, whatever experience, you can’t deny he lived life to the full. Enjoyed some great road trips with Martin, sharing our automotive passion.
“Yes, he had well-known problems, but deep down he had a good soul in there. My thoughts are with his son and family at this difficult time.”
He has been described as “a Mayfair character” and “a property legend” by others in the industry.
Skinner established Inspired Developments in 2003, targeting residential developments across outer London through the conversion of old office assets to create more affordable micro-flats. However, post-Brexit a challenging for-sale market, high costs and lender caution ultimately led to the collapse of the business.
Inspired’s portfolio comprised around 1,000 homes in London and the South East, including the landmark Innova scheme at Impact House in Croydon. Administrators at MHA MacIntyre are currently seeking to recoup funds for creditors, with liquidation of the businesses expected this year.
Skinner was born in the Solomon Islands in the South Pacific. He began his property career in Canary Wharf, with a portfolio of high-yield properties rented to young professionals. He had a number of businesses before Inspired, including development management business Nice Group and advising funds and joint ventures. He started an investment portfolio with his wife, Magdalena Skinner, from whom he later separated and with whom shares a son.
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or EGPropertyNews
