House in The Boltons goes on the market for £27.5 million more than it was marketed for in 2012 complete with an extra four levels of accommodation
Two-storey 5 Creswell Place – now known as Cresswell House – in The Boltons in London, SW10 was marketed for £10 million in 2012 (the equivalent of £10.7 million, $15.6 million or €13.7 million today). After a major renovation and expansion to comprise a total of six levels it is now for sale for £37.5 million ($54.8 million or €47.8 million) and will be subject to Stamp Duty of at least £5.4 million ($7.9 million or €6.9 million) on top of that if sold for the asking price.
Vastly extended from a floor print of just 3,000 square feet to a staggering 11,062 square feet, with the addition of three basement levels and a mansard roof extension, the house is the ultimate example of London’s ‘iceberg homes’ and now includes subterranean accommodation featuring a swimming pool, a sauna, a Jaccuzi, a gym, a cinema and a stacking garage. In addition to five reception rooms and five bedroom suites, the house also has a library, two kitchens, a wine store for 500 bottles and two bars.
Two stories to keep beside you
A £17 million fixer-upper
A £17 million Kensington house that is being marketed as one that “may now benefit from a refurbishment” provides a reflection of how ludicrous London’s property market now truly is
Mackintosh Icebergs
‘Iceberg home’ formed in part from the former Glebe Place, Chelsea, SW3 studios of Charles Rennie Mackintosh and his wife for sale for sum 1,178% higher than in 2012.
With ‘Brexit’ lingering over the country and foreign investors diving for cover in the wake of George Osborne’s latest budget, this is a house that will likely be on the market for some time; the effects on London’s water table, however, may take a little longer to assess.
Cresswell House is for sale through Knight Frank.
Update: Marketing images removed at the request of Harry Turner, residential PR manager of Knight Frank, October 2017.
Readers have their say
11 comments
Well done Steeples Times!!!!!!!!!!!!!!!!!!!!!!!!! Good to see you featuring modern design for once!!!!!!!!!!!!!!! The developer did a great thing and took out the wrecking ball and modernized the place as it should be!!!!!!!!!!!!! Clean lines, large rooms and dug down; wonderful work and worth 72M AUD!!!!!!!!! (Start putting prices in AUD too – it would make life easier down under)!!!!!!!!!!!!!!!!!!!!!!
Characterless house …………… Crazy price ….. The London bubble will burst …. Not if but when …. !
One good thing about having a big garden in that area is that you can have as many noisy parties as you like because none of the neighbouring houses are occupied apart from domestic staff and security guards. Three basement levels is way over the top though, who wants to swim or exercise in an underground gym for goodness sake? One thing for sure after a decade or so these iceberg houses are going to start leaking big time. You cannot stop the forces of nature not matter what technology you employ. A resident of Hollywood Mews where I used to live, told me that when Carluccio’s opposite the Chelsea & Westminster hospital used to be a bank, the vault flooded one day and they had to use frogman to repair it. The services of building firms with underwater experience will soon be in demand!
You are very right. This kind of development should never have been permitted. The damage to neighbouring buildings is potentially also very bad.
This is an abode that would be better off planted in San Fran Disco. When we talk about plastic, this is real, plastic.
Like Gillian remarks, give it some soul.
Anybody can find extra space if they decide to go subterranean, Ice house is an apt description for this white washed box.
A fantastic pad for the local pimp, and plenty of stacking space for the white walled caddy.
Rod, I’m now convinced you are an android and not a real person, just sent here from the planet, Bore, to just annoy us all !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Hideous. You couldn’t pay me to live there.
It’s certainly provoking quite a reaction.
It is overpriced to the point that it is a joke. Whoever decorated it should be locked up too.
be worth half the price if it wasn’t for immigration driven real estate
Maybe its all about location.
Money too tight to mention…………