The Bishops Avenue as often known as Millionaires’ Row, it is situated in Hampstead and houses many of the oligarchs and Saudi Royal Family. Now one house is hoping to top all of the other houses in the street by commanding a price tag of 100million. Heath Hall is a Grade II listed property which used to be an Arts and Crafts home which has been extended and restored so that it is now 27,000 sq ft in size and has fourteen bedrooms. There is also two and a half acres of landscaped gardens equating to one of the largest gardens in North London.

The developer behind the project is Andres Panayiotou is hoping that the price tag will make it one of the most expensive houses up for sale in London. Neighbours of the property are the Sultan of Brunei and members of the Saudi Royal Family. He will not give an exact price for the property as he feels that you cannot put a price on house that has no comparison. However he is quietly confident that it will fetch twice as much as Royal Mansion which is located a few houses down and sold in 2008 for 50million.

He feels that the house is not about money but about creating a country classic in London which has luxury and security like no other house. Whilst he made his money in the buy to let business he has built more than 9,000 apartments but he felt that they were all the same, this project has been a lot more personal. He famously sold his reported 1billion property portfolio before the crash and bought Heath Hall in 2006, it was known then as East Weald. He paid 14million for the property from an undisclosed property company. The house was built in 1910 in the Arts and Crafts style for a member of the Lyle family of Tate and Lyle. It used to have 19,000 sq ft of living space and was then owned by the Bank of China from the 1950’s onwards, the house was used to house their employees but fell into disrepair.

When Panayiotou bought it he intended to restore the property as a home for him and his family and build some other houses within the grounds which he could then sell on for a profit. But he eventually decided to extend the property and stay at his 25 acre country estate in Epping Forest. He admits that he fell in love with the building as soon as he saw it and felt that it needed to be restored to its former glory, when he informed Barnet Council of his intentions they were very pleased due to the fact that it had gone into such disrepair. One hundred and twenty builders and craftsmen were involved in restoring the building and 50% of the interior space was extended by building to the rear of the property. So Heath Hall now has 35 rooms, along with the 14 bedrooms are 6 main reception rooms, a library, a cinema which has cream suede walls and a ground floor leisure complex. There is a white stone swimming pool and an outdoor pool in black stone. The plasterwork and fireplaces have been restored with some being restored with white gold paint, this alone cost 250,000. Upstairs there is an oval bath situated just off the master bedroom which is cut from one single piece of magenta-veined Italian marble which cost more than 220,000.

The work has cost him 40million so far but he admits that he did not have a budget when it came to doing the place up as he wanted to do it justice. He feels that quality and not vulgarity defines Heath Hall. His main focus was to put all of the state of the art technology into the house so he has installed a Crestron home-automation system which allows you to sit in your chauffeur driven car and touch a button which will de-ice your drive and run your bath to a specific depth and temperature whilst your dressing gown gets warmed up. Security is top priority and the first floor dressing room has a steel wall which doubles as a panic room.

On the Bishops Avenue there are more white vans than Bentleys at the moment due to the amount of renovation work being carried out there. Some in the past have had to be abandoned halfway through due to the mess that the developers have made of the properties but this is certainly not the case with Heath Hall. An agent for the area feels that it will probably be sold to a Middle Eastern, Indian or Russian buyer billionaire but Panayiotou is in no rush to sell.

uklandforsale.org

Article Source: sooperarticles.com/real-estate-articles/property-investment-articles/100million-pound-bishops-avenue-mansion-371641.html

About Author:

Miss Fiona Davies is Sales Director for uklandforsale.org She has worked in the property and land sector for the last ten years.All articles on the website are written uniquely by her.Author: Fiona Davies