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
It comes to something when an estate agent describes what looks like a perfectly well presented house as being one that “may now benefit from a refurbishment”, but when that property is priced at £17 million ($27 million, €23.7 million) and situated in the heart of Kensington, it’s quite something else.
For sale through John D. Wood, the 4,780 square foot semi-detached 6 bedroomed house at 30 Phillimore Gardens has been owned by the same family for 25 years but appears to be decorated in a contemporary fashion. It has two large reception rooms, four bathrooms and off-street parking for two cars and is said to “retain all of its original glamour”.
Despite being anything but a Miss Havisham-esque wreck, this house will undoubtedly end up being purchased by a developer or in the hands of a Russian oligarch. It will no doubt be totally gutted and will most likely become another symbol of the money park that prime central London has become: A place where the lights aren’t on and nobody is home.
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