House in The Boltons goes on the market for £27.5 million more than it was marketed for in 2012 complete with an extra four levels of accommodation
Two-storey 5 Creswell Place – now known as Cresswell House – in The Boltons in London, SW10 was marketed for £10 million in 2012 (the equivalent of £10.7 million, $15.6 million or €13.7 million today). After a major renovation and expansion to comprise a total of six levels it is now for sale for £37.5 million ($54.8 million or €47.8 million) and will be subject to Stamp Duty of at least £5.4 million ($7.9 million or €6.9 million) on top of that if sold for the asking price.
Vastly extended from a floor print of just 3,000 square feet to a staggering 11,062 square feet, with the addition of three basement levels and a mansard roof extension, the house is the ultimate example of London’s ‘iceberg homes’ and now includes subterranean accommodation featuring a swimming pool, a sauna, a Jaccuzi, a gym, a cinema and a stacking garage. In addition to five reception rooms and five bedroom suites, the house also has a library, two kitchens, a wine store for 500 bottles and two bars.
With ‘Brexit’ lingering over the country and foreign investors diving for cover in the wake of George Osborne’s latest budget, this is a house that will likely be on the market for some time; the effects on London’s water table, however, may take a little longer to assess.
Update: Marketing images removed at the request of Harry Turner, residential PR manager of Knight Frank, October 2017.