Once in a lifetime opportunity to create Notting Hill’s ultimate home
Russell Simpson and Savills are launching a unique ‘ready to go’’ property package, enabling the purchaser to transform a c. 4,000 sq. ft. stucco-fronted house into a c. 9,800 sq. ft. super-home. With planning permission granted and work able to begin immediately, the property at 12 Pembridge Place, Notting Hill is on the market for £14.95 million. Stamp Duty and quantity surveyed construction costs amount to approximately £6.7 million, capitalising this exceptional opportunity at £21.65 million (£2,209 per sq. ft.).
Jake Russell, Director at Russell Simpson, said: “This is an incredibly exciting instruction, we’re not selling a typical home here. This is a fantastic opportunity for someone to purchase a unique project and create what will undoubtedly be one of London’s finest homes. The plans have been approved by the Royal Borough of Kensington & Chelsea, QS reports have been completed, all an incoming purchaser would have to do is go out to tender with builders and build out the project. They could even use the sellers’ builder, who has tendered and is ready to begin.
“With all costs considered the end result is a completely refurbished home, executed to an exceptionally high standard, internally designed to the purchaser’s taste, extending to c. 9,800 sq. ft., which means you’re on the best street in Notting Hill for a cost of £2,209 per sq. ft. Typically, property on Pembridge Place has, in the recent past, reached c. £3,500 per sq. ft.!”
The dramatic plans for 12 Pembridge Place will produce a 31 ft. (9.5m) wide house, with all the principal rooms overlooking the spectacular 123 ft. (37.6m) west-facing garden. Once complete the spectacular home will provide six bedroom suites, four reception rooms, plus a luxurious kitchen/dining room with snug area. The leisure complex on the basement floor will be filled with natural light, comprising 20m swimming pool, gymnasium, steam room, cinema room and wine cellar.
Located on a quiet tree-lined street, regarded as one of the most prestigious Notting Hill addresses, 12 Pembridge Place is close to some of the best preparatory schools in London. Wetherby, Pembridge Hall, Chepstow House, Southbank International and Notting Hill Preparatory schools are all within close walking distance.
Excellent transport services are also within close distance, with Notting Hall Gate Underground station (Central, District and Circle lines) providing access to the West End, the City and Canary Wharf. 12 Pembridge Place is also enviously placed between two of London’s finest public parks; Hyde Park and Holland Park.
Kit Allen, Director at Savills’ Kensington office, added: “We cannot emphasise enough, how incredibly rare it is to find such a substantial, ‘ready to go’ refurbishment project, with so large a garden, in an address as prime as Pembridge Place. Buyers who have carried out previous structural refurbishment projects, will appreciate the substantial savings in time, angst and money, which this scheme represents. We are delighted to be involved in this prestigious sale and are sure that the eventual owner will be the envy of many.”
For sale through joint sole agents Russell Simpson and Savills, 12 Pembridge Place is available to purchase for £14.95 million. For further information, contact Russell Simpson 020 7225 0277 or visit russellsimpson.co.uk or contact Savills on 020 77535 3300 or visit savills.co.uk.