£2.5m for a knockdown which you can’t knockdown

[Propertypornographer]

Feast your eyes on this: £2.5m for a 1920s house in need of modernisation. Not too many period features unlike a grand Victorian home with bay windows and fireplaces and high ceilings. Yes it’s a posh postcode and it backs onto
a park but it’s very near the noisy end of the south circular and a huge estate. The garden looks an odd shape. It’s not in catchment for great state schools and it’s a 15 minute walk - not 5 - to posh shops and far from a train line etc. It says detached but it looks like the garage is right next to the neighbour’s one. It’s in a conservation area so you would struggle to get planning permission to knock it down. You’d have to remodel probably at a cost of at least 500k to make it a four bed house with decent living space.

What am I missing?

www.rightmove.co.uk/properties/152274461#/?channel=RES_BUY

I have to agree with you on that price @Propertypornographer I think they’ll struggle to get £10m. That is a beautiful location and much better than the Court Lane location but still, I don’t think anything in the village has gone for £10m yet. Still, you’d be living (almost) next door to Jason Statham and Rosie H-W if that’s your bag!

And it's been reduced so it was on for even more!

Dulwich village is the nice part of Dulwich. That's why.

I wouldn’t say that it does, looking at Land Resgistry sold prices: https://landregistry.data.gov.uk/app/ppd/search
The agents use sold data to stack up their asking prices, it’s not a punt.

Wow, that must be some location!

Sensing any negativity is underpinned by misunderstanding, it’s like saying ‘why is Hampstead so expensive, this dump only backs on to a Heath’. Because you’ve selected a very exclusive area, that’s why…

Sensing any negativity is underpinned by misunderstanding, it’s like saying ‘why is Hampstead so expensive, this dump only backs on to a Heath’. Because you’ve selected a very exclusive area, that’s why…

The garden is massive so you could double the size of the house without really impacting outside space.

You’d never be allowed to do that sadly @PrimalLass due to strict planning laws locally.

You wouldn't be allowed to do a massive rear extension? I can understand not changing then from the front, but seems mad at the back.

Half our village is a conservation area but extensions etc do get through.

That is horrendous. The stairs scare me, the whole thing has no character. Wtf is the “artwork” on the wall which you can see in the photo taken from the garden of the back of the house?

And very quickly, too

Court Lane, Dulwich, SE21

£2,500,000
Price Change History
16/09/2024
Price changed from £2,600,000 to £2,500,000
11/09/2024
Initial asking price: £2,600,000
Overall change: -3.8% (-£100,000)

I don't think theres anything wrong with it as a house bar the price but I would say that as a Northerner.

Honestly its a decent little doer upper, I see zero reason to 'demolish it'.

Paying millions for houses that aren't literal palaces is weird to me though, you can get actual grand mansions and castles for less than a million lol.

I agree. It has all the bones of a fabulous home once it's been refurbished. And backing on to a park.

In need of modernisation does not on any planet mean derelict. Derelict is ununusable condition as the result of disuse, abandonment and neglect.

'In need of modernization' means someone has lived there a long time but likely hasn't updated to current regulations so needs things like new fuse boards or has non safety glass or asbestos which would not reach the current 'standard' etc...

Dulwich is so dull. Dull, dull, overpriced Dulwich.

Well, it's Dulwich.
For a real laugh, have a look at Barnes. Always cheers me up at the thought of how much people pay to live in South West London.

Stamp duty by the way would be £211,250. So that’s over -£2.7m before you get the keys and start dealing with old
electrics and probably replacing boiler just to be able to live in it over winter while you do it up.

Location, location, location…

I doubt the people who are buying a property at this cost are concerned about state scholl catchments or would live in it whilst been done up. We have a house in our area that is on a 6-12 month rolling let to families who move out just for a kitchen extension as they dont want to deal with the dust, mess, etc - it might also be cost effective as working around a family - tidying up everynight and setting up every morning wastes time that could be getting on with doing the project quicker.

And we wonder why so many southerners are movjng north. This is what that would be buy you near me:

www.rightmove.co.uk/properties/141079352

Oh, I saw "1920's house" and £2.5million and assumed it was going to be some art deco type, copper roof,.not-my-taste but can see why someone would love it type of house.

Am seriously disappointed.

Wdited to add: much prefer @TellerTuesday house, even with the strangely jarring bathroom.

The price seems insane but massive garden, loads of light it could be a beautiful family home or appeal to wealthy downsizers with a love of gardening.

Unbelievable!!!