A £35 million house could become Britain’s most expensive demolition project as potential buyers have permission to knock it down and turn it into a £65 million mansion.
The current house on the site, a former carriage house and stable yard. Photo: SWNS.
The former carriage house and stable on Mount Row in London’s Mayfair comes with planning permission for a new 16,000 sq ft mansion complete with a guest villa at the rear.
Whoever buys the property would have to pay the builders’ fees to turn it into a new house, as well as the £35 million price tag, but it is thought they could make a profit of up to £28m in doing so.
The two-storey mews house currently boasts six bedrooms, seven receptions and seven bathrooms.
Proposals for the new build feature grand entertaining rooms, an entrance lobby, library, three reception rooms, a family kitchen and breakfast room and a 26-seat formal dining room.
First floor plans show a 2,000 sq ft master bedroom suite with walk-in dressing room, shoe room and two en suite bathrooms as well as a further five bedroom suites on the two top floors.
It could also include a bowling alley, swimming pool and a cocktail bar.
The existing property was originally a carriage house built to accommodate horse-drawn carriages.
Mount Row, once occupied by stable yards and cabinet-making and upholstery workshops, is now described by the estate agent as a “very sought after, quiet and exclusive road.”
Wetherell, which is selling the property, describes the suggested new-build as a house that “would blend effortlessly with the historic nearby buildings whilst internally establishing itself as the ultimate 21st century luxury family home.”
Peter Wetherell, managing director, said: “The site is for sale for £35 million with consent to knock down and replace the existing property.
“Therefore some have called this site the most expensive house knock-down in the UK.
“The planning allows the buyer to create a bespoke new mansion of outstanding luxury and quality with the completed residence worth circa £65 million, effectively doubling the value of site.
“For a discerning buyer this is an outstanding investment opportunity with the potential for huge capital value uplift.”
Source: The Telegraph