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Pictures: This London town house is going for €14 million - and apparently it's a bargain...

Ormonde House is being marketed as one of the UK’s most expensive “fixer-uppers”.

1 Source: Pastor Real Estate

PROPERTY AGENTS SELLING a £10.8 million (€13.7 million) house near London’s Sloane Square are calling it a “bargain”.

Marketed as what must be one of the UK’s most expensive “fixer-uppers”, Ormonde House in Eaton Gate is “the ultimate Grand Design house” for anyone with a lot of imagination – and money.

David Lee, head of Pastor Real Estate, said he was ”delighted to be acting as the sole agent for Ormonde House, 8 Eaton Gate:

“It is a beautiful home adorned with original features, it requires a thorough renovation but it also offers real value for money and the opportunity to tailor a home to one’s requirements.”

Check out the photos below:

The house is located between the swanky Sloane Square and Eaton Square in west-central London, and comes with a large garden for summer cocktail parties.

The huge Grade II listed building is described as a “blank canvas for an ambitious family to bag a bargain,” assuming you think £10.8 million (€13.7) million is a bargain for one house.

But there are worse places to come home to after a hard day’s work: “From the moment you walk through the front door, you are met with a spacious marble-floored reception hall, finished with ornate plasterwork and decorative fireplace.”

The estate agent says the house may be “in need of modernisation”, but the wood-panelling in the library adds character.

There’s even a working elevator to get residents to one of the nine bedrooms in the tall house. Sadly a bellboy isn’t included in the price.

In the dining room there’s a lighter decor, “where the ornate plaster work continues alongside wooden strip flooring with a feature parquet border”.

“The grand dog-leg staircase with turned balusters whisks you back to a bygone era and invites you to explore what the house has to offer,” according to the agent.

With the money saved on this property you might have some spare for servants: “To the lower ground floor, there is an original silver safe located under the stairs, large kitchen and space for staff quarters.”

“On the upper floors there are seven bedrooms,” the brochure says, however the agent says that planning permission has been granted if the new owners want to create four luxury bedrooms with ensuite bathrooms instead.

The house boasts a massive reception room that wouldn’t look out of place in an adaptation of “War and Peace” if ballroom dancing takes your fancy.

Despite the low price for the area, it’s estimated that the house requires “between £1.7 – £2 million (€2.2 – €2.5 million) worth of work” that should leave it with a value of £14.5 – £16 million (€18.4 – €20 million), averaging out at £2,449 (€3,100) per square foot.

The agent likes to stress that buyers aren’t just getting space but history: the development of the Belgravia Area “can be traced back to the 1820s, but Ormonde House was not built until 1905 so is architecturally very different in style to its neighbours”.

13 Source: Pastor Real Estate

- Matthew Nitch Smith

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Published with permission from:

Business Insider
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