Tuesday, April 20, 2021

No. 2454 - Maxing the council

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A £1.15 million ex-council flat sums up just how bonkers the Chelsea property market truly is

 

They say: “Buy the worst house in the best street” but when that costs £1.15 million, you know something is awry. A third floor flat in Keppel House on Brompton Cross in Chelsea is illustration of this point and summary of how mad London’s property market now truly is.

 

Maxing the council - A £1.15 million ex-council flat sums up just how bonkers the Chelsea property market truly is
Keppel House is a building that would not look out of place in Communist Russia

Maxing the council - A £1.15 million ex-council flat sums up just how bonkers the Chelsea property market truly is
This floor plan shows how Ivar Design have cleverly reconfigured the apartment

Maxing the council - A £1.15 million ex-council flat sums up just how bonkers the Chelsea property market truly is
The flat has a view over the gardens of Pelham Crescent to the front

Maxing the council - A £1.15 million ex-council flat sums up just how bonkers the Chelsea property market truly is
Ivar Design previously made over this 686 square foot flat within the building and marketed it at £1.295 million

 

For sale through Maskells after a renovation by Ivar Design, the compact two-bedroom property is situated within a block that is still in the majority council tenanted. Built in 1952 and adjoined by properties valued at just £151,000 each in 1999, Ivar Design have admittedly given the flat an impressive makeover.

 

Now featuring such amenities as “handcrafted and laid chevron flooring” and “mood lighting and bespoke fixtures”, this is undoubtedly one of the most expensive ex-council flats in Britain. Only those who can afford to shop at Stella McCartney – which is located on the building’s ground floor – need apply.

 

 

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    13 COMMENTS

    1. Looks like this firm do a grand job with their renovations though. I like the quality of the flooring in the picture of the other flat.

    2. The council have treated their ground floor tenant, the newsagent, appallingly. She has had her rent set at cripplingly high amounts to try and get her out since 80% of the premises are now the Stella McCartney store. Their used to be a restaurant (no doubt these gentrifying sorts wanted that closed because of smells) and no doubt they’ll want the remaining council residents (not that many actually) and the newsagent gone also. When even former council property costs north of £1 million, it is a disgrace. Dianne Abbott as mayor (as was reported in yesterday’s Evening Standard) might be the solution. She will stop developers from building without adequate social housing but what she/a.n.other ought to do also is to prevent local authorities from selling off anymore stock.

      • I signed the petition to support the newsagent. Kensington and Chelsea Council have wronged her and Stella McCartney’s shop is of no use to any of us who live opposite in Pelham Crescent. The flats are unsightly and that they are no longer performing social good is shocking. I might be lucky enough to live in a smart terrace but I do think ordinary people should be housed. That Keppel House is being used by profiteering developers in this way is not something I support.

    3. good God!! How disgusting, good old K&C council do it again!! The very people who they were made for just have to go live somewhere else , ? What a “soulless ” place Chelsea now is

    4. John Stoddart is right. What is truly appalling is the way OUR assets were sold off cheap. The who point of social housing is to provide for essential workers in K&C. It is not to allow spivs to make money.
      Yes, Chelsea is now a shadow of its once vibrant self. Matthew has already dealt with the dreadful cosmentic shops in Kings Rd and there is very little left of the small inde shops that made the Road so full of character.

    5. I can buy a attractive 3 bedroom semi-detached house in Nigel Farage’s street for £280,000, with plenty of space to keep a caravan and 2 cars. It is a rip-off. Only fools will buy it.

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