This ‘beautifully derelict’ one-bedroom London property is up for sale for £2.5 million

Would you spend £2.5 million on a doer-upper? What if you stood to make £1 million profit?!

A crumbling one-bedroom London property described as ‘beautifully derelict’ has been put on the market with a staggering £2.5 million price tag.

The dilapidated mews house, located in the prime location of Little Venice in West London, is currently the most expensive one-bedroom property for sale on Rightmove. It is up for sale for almost ten times the average house price in England and Wales, which is somewhat shocking considering the state of the property...

house with brick walls black wooden doors and chimney stack

(Image credit: James Baily/Lurot Brand)

While some aspects of the interior and exterior decor reflect the popular industrial trend, such as the exposed brick walls and faded paint on the wooden doors, other parts are just plain run down, with crumbling plaster, leaky ceilings, and ancient brown carpets. It certainly needs a lot of work!

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bedroom with yellow wall and bed with pillows

(Image credit: James Baily/Lurot Brand)

kitchen room with yellow wall and sliding glass windows

(Image credit: James Baily/Lurot Brand)

A double garage currently takes up the entire ground floor, while the first floor consists of one bedroom, one bathroom, a kitchen and a living room.

garage room with concrete flooring and brick walls

(Image credit: James Baily/Lurot Brand)

living room with carpet flooring and white windows

(Image credit: James Baily/Lurot Brand)

Despite the condition of the building and the enormous price tag, it could prove a strong investment for those with money in their pockets. Planning permission-dependent, it could be extended both upwards and downwards, as other houses on this street have been, converting the house into a three or four-storey home.

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With extensive conversion and restoration, agents Lurot Brand believe the house could be extended from 1,484 to 2,700 sq ft - increasing the property value to £4 million. So even if an investor spent half a million on work, they could still make themselves a handsome £1 million profit.

sloping roof houses with white windows and concrete road

(Image credit: James Baily/Lurot Brand)

Read more: How to add value to your home

Mews properties were originally used to house servants and horses, but have grown in popularity over the past 40 years among homebuyers looking for a quirky home. An estimated 90 per cent of mews properties in London are now residential homes. This mews street has had a particularly trendy past, with residents including Boy George and Marilyn, and The Sex Pistol’s front man Sid Vicious.

Do you think it’s worth the investment?