Kenmore House on Billionaires’ Row (AstonChase).
Aston Chase
A derelict mansion on London’s most exclusive street has been bought by property power couple Anil and Marisa Varma for just under £20m.
The married couple behind luxury developer Harrison Varma have purchased the Victorian villa, which was built in the late 19th century and now lies in a dilapidated state, at 58 The Bishops Avenue.
The developers have recently completed a number of luxury schemes on the North London street, known as Billionaires’ Row.
These include high-end flats with access to a 25m swimming pool, bar and gym, that have sold for as much as £7.5m each.
Harrison Varma has not revealed what its plans for Kenmore House are.
Despite having been derelict for almost 15 years, the 10-bedroom Victorian mansion was originally put on the market in 2016 with a £22.5m price tag. Its price was recently adjusted to £15m.
Kenmore House sits on more than 1.7 acres of land and has potential to be redeveloped. A planning permission to demolish the existing 12,000 sq ft structure and build a 30,000 sq ft home has lapsed in 2014.
The current owner of Kenmore House, B.L.A. Limited, is a company registered in the Channel Islands.
Mark Pollack, a director at estate agent Aston Chase, who advised the vendor, said the property belongs to “a private European client” but would not comment further.
“The Bishops Avenue is a road long renowned for offering some of the most valuable mansions in London,” Pollack said.
“The size of this plot and lapsed planning consent indicate Kenmore House has the potential to be developed into a boutique scheme of luxury apartments or redeveloped into a super-prime family home.”
The mansion is one of a number of homes on Billionaires’ Row which currently sits empty.
During the late 1980s and early 1990s, members of the the Saudi royal family bought 10 properties on the road. The houses, however, remained unoccupied for a number of years and eventually sold to investment firm LJ Capital for a collective £80m in 2013.
Famous former residents of the road include Ringo Starr, Joan Collins, Bernie Ecclestone and billionaire steel magnate Lakshmi Mittal.