A derelict family home in London sold for £6.25million after a ruthless bidding war between three families.
Located on Grove End Road in St John’s Wood, London, the eight-bedroom family house is in poor condition and needs serious renovation works to be hospitable.
But it sold for £500,000 over the asking price of £5.75m after the three families fought tooth and nail to snatch the 7,074 sq ft home off the market.
None of the potential buyers were developers and all live nearby and know the area well, suggesting that they are keen to turn the property into a dream home.
The new owner, who won by offering £6.25m for the property will either embark on a Grand Designs-worthy project, or could even destroy the house completely to replace it with a two-storey town house – which would meant they paid more than £6m for a plot of land.
A derelict house in St John’s Wood, North West London has sold for £6.25million, £500,000 over its asking price of £5.75m after a bidding war between 3 families (pictured from the outside)
The house, pictured, is L-shaped and counts eight bedroom, seven reception rooms and six bathrooms/en-suite, but needs serious renovation works
The house was jointly marketed by Aston Chase Arlington Residential estate agents who organised 50 viewings over just two weeks.
This led to a bidding war from three different local family who wanted to have a go at renovating the house.
The derelict L-shaped building consists of eight rooms, and while it receives plenty of light thanks to large windows and two verandas, it needs some serious renovation works to take place before being hospitable again.
Pictures of the property show that each room was left in a desolate state, with rubble and dirt covering the floors and mould and cracked paint covering the walls.
Pictured: one of the bathrooms located in the upstairs part of the house, with exposed floorboards and crumbling walls
The large home comes with an artist studio, pictured. The winner of the bidding war will either renovate the property or demolish it altogether to build their own house
The house was stripped to its floorboards, which are covered in dirt and leaves. The upstairs part of the property has apparent woodwork.
Throughout the house, the old wallpaper is torn down, and water damage has taken over the walls.
Downstairs, a large bathroom is covered in dust and rubble, with one toilet randomly fitted in the middle.
In spite of these hurdles, it is not hard to see why the property would be attractive to buyers, with seven reception rooms, a family kitchen and eight bedroom upstairs, as well as an artist studio.
One of the seven receptions rooms located on the ground floor or the property and opening up to the 80ft garden
Upstairs, there are eight rooms who also need to be thoroughly renovated, pictured. The house was jointly marketed by Aston Chase Arlington Residential estate agents who organised 50 viewings over just two week
It offers plenty of storage space through and originally contained six bathrooms/en-suite, walking storage and a wine cellar in the grounds.
In spite of being in the heart of North West London, the property is secluded behind a gate and offers a quiet haven from the rumble of the city with a 80ft =sq garden offering plenty of greenery around the house.
The ultimate buyer, who was not named, plans on either restoring the house to its former glory or demolish it altogether in order to build their own two-story house.
Mark Pollack, Co-Founding Director of Aston Chase said the fact the house offered plenty of garden space and had its own entrance had made it attractive in the age of Covid-19.
The reception area of the house will provide a huge space for enetertaining but will need a lot of work to bring it up to scratch. Currently there’s a concrete floor, exposed brickwork and a precarious staircase in the corner
The house benefits from a secluded garden and plenty of light thanks to its many windows and two verandas (pictured)
‘This dilapidated property hit a chord with numerous applicants who were attracted by the opportunity to create their own home resulting in the competitive bidding process,’ he said.
‘The St John’s Wood marketplace is one of the most active in London at present for both sales and lettings deals.
‘The area provides a large supply of detached and semi-detached houses set in private gardens and since the COVID-19 pandemic there has been a large uplift in buyer and tenant demand for homes with outside space and their own private entrances,’ he added.
The house if little more than a shell with exposed floorboards that will need to be repaired or replaced. Some of the walls seem to have sustained water damage
One of the sunny verandas located around the house, perfect for a morning coffee. The cellings, pictured, also need to be redone
The property seen from the 80ft garden. Aston Case said some people were looking for home with gardens and private entrances since covid-19
The staircase connecting the ground and upper floor. The upper ceilling’s apparent woodwork also needs to be renovatred.