House in Chiswick Sells for Bargain Price of £8,000,000
Hartington Road home knocked down by 20% from asking price pre-lockdown
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The second highest price ever was paid for a house in Chiswick shortly before the coronavirus hit. The £8,000,000 price tag on the five bedroom home on Hartington Road was a substantial discount from the original listing price of £10,000,000.
The detached gated villa-style home also has five reception rooms and six bathrooms as well a swimming pool overlooking the Thames. It has a 180 foot garden leading to the swimming pool and down to a river terrace. It is the former home of TV presenter Eamonn Andrews.
The sales brochure for the property enthused, "Externally this grand home features white walls and a contrasting green roof with green shutters on the windows, giving it a villa feel. Sitting in private, gated grounds with a sweeping driveway, the internal accommodation is arranged over three floors. As you enter, you are greeted by a grand entrance, which leads to two connecting reception rooms, a separate kitchen and formal dining room on the ground floor, which also offers a home office, gym and integral garage.
"The first floor features a beautiful master suite which overlooks the garden and enjoys delightful views of The River Thames. There are four further bedrooms all with en-suite bathrooms or shower rooms.
"Styled to suit its era and status, this wonderful home features neutral palettes mixed with luxurious gold sophisticated furnishings in the living and dining rooms. The contemporary kitchen comes complete with all mod cons, while the beautiful bathrooms exude luxury with some featuring free standing baths, giving the home an overall modern, yet classical theme. “
It had been on the market for over a year before the sale.
Shaun Drummond, Sales Director at Harrods Estates said prior to the transaction, “It’s rare a house of this magnitude comes onto the market. Hartington Road has everything – an ideal location on the bank of The Thames, the perfect postcode, and spacious, considered internal living - all set in beautiful gardens, complete with your very own pool.”
The most expensive property ever sold in W4 was Walpole House along the Mall which sold for £12.5 million in 2008. Zachary House at nearby Strand-on-the Green, which sold for £6.8 million and its next door neighbour which went for £6.7 million, also prove that riverside locations consistently attract premium prices.
Data from the Land Registry for the first quarter of this year showed that the pattern seen over the last few years, with volumes low and prices steady, has continued. Buyers remained keen on larger family houses and two properties sold for over £4,000,000 prior to the lockdown, one on Dukes Avenue and The Tides on Chiswick Mall.
According to the Land Registry’s House Price Index, London was the best performing region of the country seeing a 4.7% rise in prices up to the end of March 2020. This brought the average price in the capital to £485,794. The rise for England was of 2.2% bringing the average property value to £248,271.
The Nationwide’s House Price Index showed a similar picture with a 3.7% annual growth rate for prices up until the end of April, the fastest since February 2017.
Commenting on the figures, Robert Gardner, Nationwide's Chief Economist, said, “In the opening months of 2020, before the pandemic struck the UK, the housing market had been steadily gathering momentum. Activity levels and price growth were edging up thanks to continued robust labour market conditions, low borrowing costs and a more stable political backdrop following the general election.
“But housing market activity is now grinding to a halt as a result of the measures implemented to control the spread of the virus, and where the government has recommended not entering into housing transactions during this period.”
He added that, while the low level of transaction might mean it is difficult to calculate the index in the short term, “the raft of policies adopted to support the economy, including to protect businesses and jobs, to support peoples’ incomes and keep borrowing costs down, should set the stage for a rebound once the shock passes, and help limit long-term damage to the economy. “
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June 14, 2020
