A house for sale in Kensington at an asking price of £6.85m remains unsold seven years after first going on the market. This makes it London’s longest unsold property, being first listed on the Rightmove portal in 2012, a report claims.
The sizable house has five bedrooms, of which one has been turned into a cinema room, large entrance hall, dining room, kitchen/breakfast room, balcony, utility room, steam room, double reception room and a garden.
My London says that the current owner bought the property in 2002 for around £2.3m. It suggests the house is something of a bargain with a nearby seven bedroom house for sale at £30m and another nearby 10 bedroom property at £29.5m.
Some may see this as an indicator of the difficult high end London market at the moment. However, most likely there is some other reason for a sale not being concluded – as £7m does indeed seem an attractive price for a property of this size in this location.
What is DealMakerz Prime?
In depth stories
Want to know the story behind Britain's latest property mogul? Why a company is going bust? Our coverage goes beyond run-of-the-mill news on key real estate issues.
High powered community
Our subscribers are made up of the most influential Founders and CEO's in UK property. Gain a competitive edge and get informed - read what they read.
Exclusive guest articles
Understand exactly what the most senior figures in UK property are thinking. Exclusive opinion articles from powerful real estate influencers that move markets.