£30m squat in Park Lane with the best view in London

SQUATTERS have moved into two seven-storey houses worth £15 million each in Park Lane.

The properties - thought to be owned by the Duke of Westminster - had stood empty for some time before the squatters arrived.

The houses afford some of the best views in London, looking out across Park Lane and on to Hyde Park. The group, who are living at numbers 94 and 95 Park Lane, have set up an informal art collective, spending the days playing music and creating art installations and paintings.

About 20 young people, many from overseas, are living in the houses with more expected in the coming days. They can enjoy taking their dogs for walks in Hyde Park, rubbing shoulders with multi-millionaires - including such celebrities as Madonna, who has a home nearby, and guests at the Dorchester, perhaps London's smartest hotel which is favoured by visiting royalty and film stars.

One of the squatters, who gave his name only as Martin, said: "The view at sunset over Hyde Park is just magic, especially from the penthouse. I really love it here."

Martin, who is 27 and from South Africa, added: "There was no furniture here so we had to bring our own. If anyone could send us money or furniture it would be great. We've no TV and make our own music to keep ourselves entertained.

"There's quite a large squatters' community in London and we always pass on information. We'd noticed these houses had been empty for about two years. We got in through an open basement door."

Another squatter, Meg, 21, who is British, added: "It's much better when squatters move into a rich person's home like this, as the owner can obviously afford to have us here. I suppose some people would say I should get a job - but it doesn't really suit at the moment."

The emergence of squatters at such a landmark address has caused consternation among residents. Ian Brimhurst, a member of the Westminster Homeowners' Association, said: "I'm very upset. We don't want this sort of thing blighting such a beautiful part of London."

The freehold to both properties is owned by Grosvenor Estates, which manages the Duke of Westminster's vast property empire.

The houses have 12 rooms and cover about 12,000 sq ft. It is claimed the buildings, which were used as offices, may have been empty for as long as two years. Leaseholds exist on the properties and are registered to offshore investment companies in Guernsey and the British Virgin Islands.

The economic downturn may be inadvertently causing a revival in squatting with increasing numbers of very expensive properties being left empty. Groups have even used the internet to highlight new squats in some of London's wealthiest streets. It is not a criminal offence to squat in a property provided no criminal damage is caused when moving in. Owners must seek court orders to evict squatters although this can take time.

Squatters are still thought to be living in a £22 million house in Clarges Mews, about 400 yards from Park Lane, which they moved into this month. On the website www.temporaryschool.org, the squatters have advertised a timetable of events up until Sunday, culminating in a screening of the Ealing comedy Kind Hearts And Coronets.