Anybody who knows Adam Lawrence, chief executive of London Square, would be surprised to find him having breakfast at Sotheby's. But as he grazes on smoked salmon and scrambled eggs it is clear this posh Mayfair 'café' has a special place in his heart. There are ludicrously expensive glasses of champagne on the breakfast menu at Sotheby's - although not that dear to those clients bidding for great works of art at the legendary auction house. But even the world's wealthiest collectors would be stunned to find a paper napkin from the café worth £100 million. That is what the original deal to fund Lawrence's new company London Square was written on - a tribute to the fine art of negotiation and a lot, an awful lot, of coffee. While the recession dumped many talented house builders in the dole queue, few in such an exalted position as Lawrence, the former chairman of Barratt London & Thames Gateway, had the nerve to resign with the new homes industry's future so uncertain. Lawrence drank his body weight in coffee as he sought the requisite finance to go it alone in London, kissing a lot of frogs along the way. "Many potential backers were far too busy putting fires out elsewhere." The prince arrived in the form of mid-market private equity house Graphite Capital, with a total funding package of £100 million - a mix of equity capital and senior bank debt. Graphite Capital funded the expansion of noodle restaurant chain Wagamama, retaining a stake in the business until earlier this year. Needless to say with risk-averse, if not risk-free, lenders licking wounds, the London Square deal was nearly derailed by the senior bank debt part of the equation. "Many a time did I stare into the bottom of my pint glass, thinking 'what am I doing?' Being an earthy builder, I did not speak the language of corporate finance, but we got there in the end." Lawrence convinced Graphite of the London opportunity with the London new homes market a very fragmented beast, possessing a small head and a long tail, with Barratt and Berkeley at the top in terms of unit numbers. "If you get to a £200 million annual turnover you become a top builder in London. There is a shortage of new homes, a shortage of skilled people who understand London and it is very capital intensive to build here." The London is obvious and the Square is a brand play to reflect the company's design ethos based on the principles of the capital's famous squares, with open spaces and amenities. The business is focused on prime sites within the M25 and Greater London, with a five-year plan to push towards 600 homes a year, fast-tracking it into London's premier league. The funding gives Lawrence the muscle to compete for the right sites and, acutely aware of London's unique housebuilding processes, costs, designs and skill sets, he will also pursue joint venture opportunities, giving greater leverage to the balance sheet. London Square's first development at Wimbledon Village is out of the ground - a £30 million scheme of 10 houses, starting from £2 million, on the site of what was once a convent. The private equity house backs and the builder builds. In the current climate it is a rare partnership, but worth the effort, however many cups of coffee it takes to get a signature on a napkin.