Home / Business and Economy / Posh Cottage Sells for £1.2M Despite Asbestos & Rot
Posh Cottage Sells for £1.2M Despite Asbestos & Rot
14 Sep
Summary
- A 700sqft cottage in Hampstead sold for £1.2 million.
- The property was infested with asbestos and dry rot.
- Planning permission was granted to demolish and rebuild it.
A small, "uninhabitable" cottage located in the celebrity-rich Hampstead area of north London has been sold for an astonishing £1.2 million. The property, measuring just 700 square feet and attached to a larger Victorian house, was suffering from extensive dry rot and needed a new roof.
Initially listed in May 2023 with a reserve price of £785,000, the cottage was eventually auctioned for £1,054,500 by Hammer Price Homes. Two years later, it was re-auctioned by McHugh & Co Auctioneers, with planning permission now granted for its demolition and reconstruction.
The cottage features two floors with two bedrooms, a kitchen, and a living room, alongside a large garden needing significant structural work. Every room shows signs of water damage, with stained walls and even a hole in the first-floor ceiling. Asbestos is also present and requires removal.
Lyndhurst Build Ltd, co-owned by Sebastian Sandler and Zev Benjamin, purchased the property. Sandler, also a director at XUL Architecture Ltd, has submitted plans to renovate the home into a three-bedroom family dwelling, preserving the existing brickwork while adding new upper floors and a rear extension.
