John Elton (died 1980), the previous tenant since 1944, who had been an East India merchant, obtained a new 200-year lease in 1953, for one shilling a year, but on the condition that he would invest his personal funds in restoring the house. Elton restored the house, which included rebuilding the partially demolished north wing, but spent about £60,000, three times more than expected. Elton left Trerice in 1965 following the death of his wife, and subsequently built a bungalow called Fairlie Lodge, in Shackleford, Surrey. Following his death in 1980 the bungalow was sold. It was noted at the time that it was "furnished with amazing antiques."