UK Markets close in 6 hrs 11 mins

Derelict mansion on London's 'Billionaire Row' finally sells after 15 years

Lianna Brinded
Head of Yahoo Finance UK
Kenmore House on The Bishops Avenue, known as Billionaire’s Row. Photo: Lawrie Cornish

A mansion on The Bishops Avenue, known as Billionaire’s Row, which has been derelict for 15 years, has finally sold.

Elite estate agent Aston Chase told Yahoo Finance UK that Kenmore House, No.58 on the street which has 66 properties in total, had an asking price of £15m ($18.3m) but it did not confirm the final sale price but said it finally sold due to the location being a prime place for luxury development.

Billionaire’s Row is located in Hampstead Heath, North London with the postcode starting N2. It is one of the wealthiest streets in the world and is on the boundary between the London Boroughs of Barnet and Haringey. Notable residents have included royalty, oil tycoons, foreign ministers, and media and entertainment moguls. It’s popular because it offers country-style living, each with extensive gardens, but also quick accessibility to central London.

After properties on the road first surpassing £1m in the 1980s, the street has become a source of fascination amongst the public as there are many mansions that have been left to decay.

Kenmore House is set in 1.7 acres, has 10 bedrooms, around 12,000 square feet of accommodation, and includes full-size tennis court.

Photo: Lawrie Cornish

Since the mansion has been derelict for so long, planning permission for redevelopment of the existing house into a new-build home to provide circa 30,000 sq. ft. of prime accommodation has lapsed.

“The size of this plot and lapsed planning consent indicate Kenmore House has the potential to be developed into a boutique scheme of luxury apartments or redeveloped into a super-prime family home,” said Mark Pollack, co-founder and director of Aston Chase in a statement.