Britain's most expensive council house sells for £2.96m
Oliver Duggan has a BA in Politics and Parliamentary Studies from the University of Leeds and an MA in Newspaper Journalism from City University London. He works as a freelance reporter and editorial assistant for The Independent and i with a focus on Home Affairs and politics.
Monday 28 October 2013
The house billed as the most expensive council home in Britain has been sold for £2.96m in an “extremely competitive” auction that lasted only minutes. The 200-year-old Grade II-listed property, close to Borough Market in South London, was auctioned by Savills to raise money for social housing in the area.
The 200-year-old building, which is close to Borough Market in South London, had been valued by Southwark Council at £2.3 million before going under the hammer.
The auctioneers said bidding started at £2 million and within five minutes had long surpassed the reserve price, with bids going up by tens of thousands at a time.
Chris Coleman-Smith, head of auctions at Savills and the auctioneer who looked after the sale, said: "There was a really good cross-section of people bidding, with eight or more people having a crack at it."
Savills could not reveal the identity of the winning bidder, adding that they wanted to "remain very private about who they are", but confirmed the property will probably be used residentially.
The 5,500sq ft building covers numbers 21 and 23 Park Street in Borough and could make two family homes or be divided up into flats.
Mr Coleman-Smith said the building had sparked interest from dozens of developers and private buyers from London and abroad.
He said: "We have had all sorts look at it - foreign buyers including a gentleman from China, local people, owner occupiers and developers.
"There was interest in it because it is unique - we don't get many historic buildings coming up like this."
Built in around 1820, the property is believed to have originally housed managers or directors of the Anchor Brewery before being taken over by the brewer Courage, whose historic advert is still printed on the side of the building.
It was acquired by Southwark Council when the Greater London Council was wound up in 1986 and has stood empty for many years.
Councillors said the cost of repairing the Georgian building meant that auctioning it off and reinvesting the money into new housing stock made the most economic sense.
Richard Livingstone, Southwark Council's cabinet member for finance and resources, said: "The extraordinary sale of two void grade II listed houses for £2.96 million provides the opportunity to fund approximately 20 new council homes to be built to high standards and low energy costs.
"The money raised from this sale will help deliver our plan to build 11,000 new council homes in Southwark, one of the most ambitious schemes of its kind in the country."
- 1 PlayStation and Xbox hacked by Lizard Squad
- 2 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Vagina canoe artist defends herself over ‘obscenity’ charges
- 5 The Queen’s speech 2014: Recap and Twitter reaction to Game of Thrones reference
PlayStation and Xbox hacked by Lizard Squad
Antonio Martin shooting: Black teenager may have tried to ambush patrolman, says police officer's lawyer
Katie Hopkins speaks out on childhood obesity: 'Parents of fat children should be prosecuted for child cruelty'
Boxing Day snowfall set to push even more bargain-hunters online for sales
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Rozanne Duncan: Ukip expels councillor for 'jaw-dropping' comments made in BBC TV interview
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
BBC director Danny Cohen: Rising UK antisemitism makes me feel more uncomfortable than ever
Alex Salmond has 'broken his word to the Scottish people' says Scottish Lib Dem leader
£40000 - £43000 per annum + benefits: Ashdown Group: Senior Marketing Executiv...
£40000 - £43000 per annum + benefits: Ashdown Group: An international organisa...
£25000 - £30000 per annum: Ashdown Group: Internal Recruiter -Rugby, Warwicksh...
£70000 - £75000 per annum + benefits: Ashdown Group: Marketing Manager/Marketi...