The most expensive property on the market in London had to revise its asking price downwards by a staggering 35% and yet it continues to me the most expensive piece of luxury real estate on the market. Heath Hall, the Edwardian mansion, has been on the market since 2011 but has failed to get a buyer at the asking price. The agents handling the listing have scaled it down to what they call realistic levels at £65million. With the features and amenities the mansion offers, it is a bargain if not a steal at this price point. The fourteen bedroom mansion Heath Hall boasts of a library, cinema, gym and wine cellar.
Even At The Scaled Down Price It Is The Most Expensive Property
It is the most expensive property on the market even at the scaled down price but the buyer will get a benefit of £40 million worth of extensive renovation and restoration. Post restoration the house has become one of the finest homes in London. Located on The Bishops Avenue in Hampstead, North London, the mansion was bought by Andreas Panayiotou, the property magnate in 2006. Apart from 14 bedroom suites and 12 bathrooms, the mansion boasts of six reception rooms, a drawing room, dining room, family room, sun room and snooker room. The wine cellar with its own climate control temperature system can hold 600 bottles and the gym boasts of a steam room, sauna and swimming pool.
One Can Buy 200 Average Priced Homes For the Price of Heath Hall
For the price of Heath Hall one can buy almost 200 average priced British homes but then the mansion is not an average home. The best materials have gone into making it a trophy home. 12 varieties of Italian marble and seven types of wood have made the bathrooms ultra luxurious. Some of the finest oak has been used to make over the snooker room, office, bar, library and grand staircase. Modern features have been incorporated in the house and the entire electrical system can be controlled by an iPad. The mansion built in 1910 for sugar magnate William Park Lyle, boasts of 2.5 acres of gardens. The mansion had fallen on hard times when the Bank of China took it over in 1950 and housed its staff on bunk beds. The renovation has added 8,000 square feet to the original 19,000 square feet and made the mansion as good as new.