Properties that are considered doer-uppers are incredibly popular with buyers.
But would you pay £22.5million for a house that has essentially been left to rot?
For that steep price tag, you can bag a rundown six-bedroom property on the private Compton Avenue – which sits on an acre of land nestled between multiple luxury homes.
Compton Avenue, in Highgate, is consistently named as one of Britain’s ‘most expensive streets’ with the average property price sitting north of £10million.
The white-gated property is listed by Bargets Estate Agents as ‘currently uninhabitable’ with the driveway covered in overgrown weeds.
The existing buildings are also noted to be ‘in extremely poor condition’.
It may not sound like there are many positives to sinking your money into this property, but it’s located close to Hampstead Heath – with full planning permission granted.
Essentially the new buyer will have to knock it down and start again with permission including the development of a new six-bedroom detached house extending to over 18,000 sq ft.
The property has barrier controlled access (which isn’t the prettiest to look at) and 24-hour security on the quiet cul-de-sac, adjacent from Highgate Golf Course.
Whoever buys the property will also be able to build a separate art studio pavilion or extra accommodation.
We don’t know about you but it’s sounding like the whole process is going to cost a lot more than the initial £22.5million.
Plans for a large basement can also offer underground parking (because who parks their car on the driveway, right?) as well as leisure facilities like a cinema, gym and swimming pool.
You’ll never need to leave the comfort of your own home.
But it’s going to be a while before anyone can move in and enjoy the renovated luxuries on offer.
In fact, no pictures of the interior of the house have been listed, making us think it doesn’t look too fresh inside.
So if you’ve got a spare £22.5million lying around why not go and check it out?
The rest of us will keep dreaming.
If you’re looking for something a little less rough and ready, however, why not bag yourself a Swiss chalet that was shipped to London and now sits overlooking the Thames.
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