This week’s housing news: 2 property price records broken in a week
As house prices continue to rise, this week has seen two UK housing records broken, with the most expensive council house ever selling for £2.96m and the UK's most valuable repossessed property going on the market for £30million.
November 1, 2013 | post last updated on August 30th, 2016
A 200-year-old building close to Borough Market in South London, was put up for auction by Southwark Council for £2.3 million on Monday, the same day the £30 million home went on the market in north London’s “Billionaire’s Row”.Britain’s most expensive council home earned the title when the Grade II-listed, 5,500sq ft building was bought by an anonymous bidder, moments after the auction began. The new owner said it would invest in at least 20 new social houses.The building, which became property of the local authority in 1986, was once owned by the Courage brewery, whose distinctive logo, which is painted on the side of the building, has made it a landmark. It is said to be in need of a lot of renovation.Meanwhile, Deutsche Bank put a repossessed mansion on the market for £30 million. The property is on The Bishops Avenue in Hampstead, north London, which id otherwise known as ‘Billionaire’s Row’.
The 8,000 square-foot home was owned by a Pakistani politician but was seized after a battle in the British High Court. The owners had taken a £50million with Deutsche Bank, which fell into default after the value of the property sank.
Barnet Council has granted planning permission for the house to be replaced by a huge 46,000 square-foot mansion with 21 bedrooms, 14 bathrooms and 12 reception rooms and 1.5 acres of gardens.