Number 4 Cornwall Gardens was once home to the Lucie Clayton finishing school. Founded in 1928, it was there that debutantes such as Joanna Lumley and Jean Shrimpton were taught lessons in deportment and dinner party planning. The school took on a more secretarial curriculum in 1964 but it ceased to exist as a separate entity when it merged with nearby St James’s College in 2003.

The school building was transformed into Lucie Clayton House in 2007 when it was developed into 6 apartments. Currently all but one of the apartments (which is occupied by the current vendor) are rented. A lease back for the raised ground and lower ground floor maisonette can be agreed if required. Rents from the two bedroom apartments range from £950 to £1,600 a week and the projected annual income of the house is £644,800.

The property could be bought to convert back into a single residence or as an investment with a property for the future buyer. It is on the market for £16 million.

Cornwall Gardens is one of the largest in the Royal Borough of Kensington & Chelsea. For sale through Farleys (020 589 1234; www.farleysres.com)