Part of a Mayfair house occupied by the art critic John Ruskin and the architect Charles Tatham before him comes to the market for £1.25 million despite requiring complete renovation, having just 923 square foot of floor space and being held on a lease of only 15 years
Estate agents like the phrase “great potential” and in their marketing material for a first floor flat in a Mayfair building occupied by one of the architects who worked on Nelson’s Column, Charles Tatham (1772 — 1842), in the 1800s and by the art critic John Ruskin (1819 — 1900) in the 1850s, Wetherell certainly gush about such.
Undoubtedly the most impressive part of the apartment on offer is its 25-foot by 21-foot reception room. It has a ceiling height of some 15-foot and three windows that lead onto a balcony. A somewhat awkward arrangement is beyond with a bedroom that leads into a kitchen and a bathroom beyond but with some clever reconfiguration, this could no doubt be improved.
Of the property, which has an asking price of £1.25 million ($1.93 million, €1.76 million) and is held on a lease with 15 years remaining, selling agent Peter Wetherell of Wetherell commented:
“This is Mayfair’s ultimate fixer-upper opportunity currently on the market. Charles Street is one of Mayfair’s most desirable addresses, close to Green Park and Hyde Park and just a short walk from Berkeley Square, Bond Street and Mount Street”.
A lease extension for the apartment has been estimated in the range of £1 million to £1.2 million ($1.5 million to $1.9 million, €1.4 million to €1.7 million) and after that and an investment of £500 per square foot ($774, €702) in renovations, the apartment would supposedly be worth in the range of £4 million ($6.2 million, €5.6 million) .
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