Billionaire’s Building project: Derelict Mansion sold successfully on The Bishops Avenue for development
Leading London estate agent Aston Chase have successfully sold a vast mansion on The Bishops Avenue as a unique investment opportunity, which has potential for luxury development.
Kenmore House, located at No.58 on the favoured West side of the avenue often entitled ‘Billionaire’s Row’, is set in 1.7 acres and includes full-size tennis court. The property has been in a derelict state for the past 15 years, with the successful sale testament to its future development potential. The guide asking price was £15,000,000 (freehold).
Aston Chase believe given the property’s size and stature on the iconic road, it is well suited for potential development into either a luxury boutique apartment scheme or as a trophy super-prime mansion, subject to the necessary consents.
Kenmore House currently provides a capacious, ten-bedroom Victorian home of Arts and Crafts style, which was originally built in 1896 and is locally listed. The existing house offers circa 12,000 sq. ft. of accommodation, set back from the road with a sweeping carriage driveway.
Kenmore House has lapsed planning permission (elapsed in 2014) for redevelopment of the existing house into a new-build home to provide circa 30,000 sq. ft. of prime accommodation.
The Bishops Avenue has long retained its status as one of the most expensive residential roads in the world with its notable residents including Royalty, oil magnates, foreign ministers and entertainment moguls. The average house price on the road surpassed £1 million in the 1980’s, with the 66 houses often appreciated as offering country-style living, each with extensive gardens, with quick accessibility to central London.
Mark Pollack, Co-Founder and Director of Aston Chase commented: “Kenmore House is a fantastic opportunity to invest on The Bishops Avenue, a road long renowned for offering some of the most valuable mansions in London. The size of this plot and lapsed planning consent indicate Kenmore House has the potential to be developed into a boutique scheme of luxury apartments or redeveloped into a super-prime family home."
Kenmore House is well situated for enjoying the local amenities of both Highgate and Hampstead villages which offer independent restaurants, bars and boutique shops. For leisure, Highgate and Hampstead Golf Clubs are within walking distance, with central London a short drive away.