£50m Mayfair mansion needs another £20m of repairs before it can be lived in

 
Fixer-upper: The £50m mansion which needs £20m spend on restoring it
GV of 39 Charles Street, London's most expensive fixer-upper. See SWNS story SWMANSION; Londonís most expensive fixer-upper has been put on the market for £50 million - and will need another £20 MILLION spent restoring it. The Grade II listed mansion has
John Dunne @jhdunne29 January 2014

Britain’s most expensive fixer-upper has been put on the market for £50 million - with the buyer needing to spend a further £20m restoring it.

The Grade II listed mansion has spent years in decline and now requires a full refurbishment.

However, the terraced property sits in the heart of Mayfair, one of the most desirable locations in the world, and is expected to attract keen interest from billionaires.

The house currently has listed Chinese wallpaper and silk wall mountings which will be removed and reinstated as part of the refurbishment.

Nice crib: A mock-up of how the house's bedroom could look
Re-send for better quality - See MASONS story MNGRAIL; A never-before-seen ancient manuscript believed to be one of the first to tell the story of the quest for the Holy Grail has gone on display to the public. The 13th century document was once owned by

It has been put up for sale with estate agent Wetherell for £50 million.

This is more than 300 times the average price of a house sold in England and Wales - and the price could end up rising with the possibility of offers coming via sealed bids.

But it is estimated the mid-18th Century Charles Street property will be worth £100m after renovation.

TV room: A proposed layout for the mansion's home cinema
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Peter Wetherell, managing director of Wetherell, said: “£50 million is a lot of noughts and bandying out this figure willy nilly needs a lot of thought given to why someone would even wish to spend this much on one property.

“The key features of these £50m-plus homes are opulent state rooms, princely proportions and every leisure facility and luxury imaginable.

“We anticipate a fierce battle by super-rich bidders to snap it up. Once converted it will be one of London’s most outstanding mansions.”

The £50m fixer-upper

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The house is thought to have been built after 1750 by John Phillips and George Shakespeare after entering an agreement with Lord Berkeley of Stratton whose ancestors had acquired the land during the reign of Charles II.

Previous residents have included George Fieschi Heneage, MP for Lincolnshire (1836-1867), The Earl of Camperdown (1867-1918) and The Marquis of Anglesea in 1920.

After World War Two, it was converted to commercial use.

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