Run-down mansion on London's 'Billionaire's Row' has £3m slashed off price

The price of a dilapidated house on London’s ‘Billionaire’s Row’ has come down by £3million …

…but you’ll still need a hefty £12million lying around to put an offer in. 

The run-down mansion, known as The Fountains, was on the market three years ago for £15million but the price has dropped to reflect its current condition. 

Alongside the significant price slash, estate agents hope that the ‘permission to demolish’ will attract a buyer. 

This means the new owner can completely tear it down (if they want to) and build something grander. Or can make significant improvements, to tailor it to their own taste. 

The sales brochure reads: ‘The property is in need of comprehensive renovation and benefits from a valuable planning permission to demolish the existing house and re-build a larger residence with a full complement of leisure amenities and secure parking.’  

Although, there’s plenty going for the property as it is – if a buyer can look past the cosmetics. 

The detached Palladian-style mansion stretches 12,602 sq ft internally and boasts seven bedroom suites, a series of grand reception rooms, a cinema, a ballroom and a leisure annexe – complete with a swimming pool, sauna and spa.

It also houses a gated carriage drive and backs directly onto Highgate Golf Course.

Alongside a dining room that can accommodate 24 guests there’s also a Majlis – a space traditional in Gulf cultures where people gather to discuss issues and to receive guests. 

If this particular property is a little out your price range, a beach hut described as one of the ‘world’s best’ is up for sale for £160,00.

Or, for a bit more, a four-bed house with a secret pub hidden in the cellar is on the market for £575,000.

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