Asking price almost doubled

[Alwaysfrank]

I am very puzzled about a house in our area. It was originally advertised for a large 7 figure sum and has been on the market for about 18 months. I recently saw it in an EA window for now almost double the previous asking price (now 8 figures!). No work has been done to it, it is still in need of modernisation. I can only think that by increasing the price so massively they are trying to attract a new type of buyer - eg mega-rich rather than super-rich. It just seems bonkers to me Can anyone else think of a reason why a vendor would do that? It's for sale with almost all the agents in town!

[lalalonglegs]

Perhaps it now has some sort of planning consent to subdivide or to knock down and build dozens of flats? I'm assuming you mean it was about £6million and now is about £10million - quite a jump in 18 months...

[Alwaysfrank]

I guess that's a possibility but I don't think it was mentioned on the details online (where incidentally it is now advertised everywhere as POA whereas pre increase the price was there). Good suggestion though!

This house and its pricing would have the HPC forum members frothing at the mouth!

[sacbina]

Think we need a linky so we can give an informed opinion. ...........and perhaps be a tiny bit nosey ??

[lalalonglegs]

Ooh, I've thought of another reason. In that price bracket could the property be part of one the private central London estates which are often held on a lease. The owner may have managed to extend a short lease or acquire the freehold.

[Alwaysfrank]

Oh go on then:

www.rightmove.co.uk/property-for-sale/property-41831476.html

Hope the link works.....you will have to trust me on the price. Was £6.5 now £12m!

[Bearbehind]

How do you know it's £12m- it says POA?

[Alwaysfrank]

Because I saw it in the EA window where it had the price! In fact more than one of the agents on the same stroll along the high street - it is on with a few.

[Bearbehind]

I think the vendors are delusional and the EA are bonkers for taking it on.

It's been on wth one EA since March 2012!

[iMatter]

Chintz-erama

You'd have to spend a fortune just toning that down

Or else wear dark glasses the whole time

[lalalonglegs]

It is a beautiful building in a very swanky area but the price does seem a bit, er, toppy. I wonder why Winkworth is selling it - you'd think that they'd call in Savills/Knight Frank or some such.

[IShouldBeSoLurky]

It is ambitiously priced but it's a big house in a good location. The wallpaper in the master bedroom is... special.

[zoobaby]

That's London for you. During 2014, in the area where we were taking an interest in, the prices went from mid-high 300s and totally skipped the 400s to now sit in the early-mid 500s. WTAF?

[Alwaysfrank]

I think it's probably been on with most of the agents in the time it's been for sale. There is a landmark redevelopment taking place up the road with some enormous price tags for apartments so I'm wondering if this is the reason for the, erm, hike in price.

[Devora]

What a hideous house! Great location, though.

[BlueJug]

I have seen this before too. I love it! The space, the location, the garden. The money however......(Did the mortgage calculation for a laugh - £64k per MONTH!!)

[Devora]

I'd rather here, just down the road:

www.rightmove.co.uk/property-for-sale/property-54801620.html

Or look at this beauty, from the author of Biggles:

www.rightmove.co.uk/property-for-sale/property-51528736.html?premiumA=true

And I love this house, though I accept the retro-tastic kitchenette may be an acquired taste:

www.rightmove.co.uk/property-for-sale/property-55608038.html

[Pico2]

It's on with 4 agents. Is that normal for that end of the market? Because it would be weird round here for more modest houses.