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Former council house on the market for £895.000 |
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An ordinary looking end of terrace council house has gone on the market for an outstanding £895,000.
The post-war property, bought for £50,000 five years ago by its former tenant, boasts four bedrooms, two bathrooms, a kitchen-diner and garden. But its huge price tag owes much to it Chelsea location.
A stone's throw from the Fulham Rd, it is within a short walk of properties owned by Robbie Williams, Liz Hurley, Leslie Ash and Anthea Turner.
Cureent owner, kindergarten owner Lulu Tindall, who bought the house for £750,000 from the former tenant, said: "It's a lovely house and I have really enjoyed living in it. I know it may not be a thing of beauty on the outside but on the inside it is brilliant. It's huge.'“
It was first owned by Robert Goodall who bought the freehold from Kensington and Chelsea Council in 2000 for £50,000. Mr Goodall inherited his childhood home on the death of his father Raymond, who had bought the rights to its leasehold in 1972 for £15,300. In 1999, the Government gave householders in his situation the right to buy the freehold and Mr Goodall realised he could make a very rapid profit.
He refurbished it, extending the kitchen and converting the loft into a bedroom with an en suite, and then managed to sell it to Miss Tindall for a £700,000 profit a few months later.
But since she moved in in November 2000 Miss Tindall, 33, has seen prices in her area rocket by about 30 percent. The house was put on the market for £950,000 but suffered from the recent slowdown in London's property market. It is now valued at £628 per square foot.
Story from London Housing News.
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