Chestertons Estate Agents says ..

Property Oracle says ..

This property located on Cranley Gardens in South Kensington presents a unique opportunity, but one that requires careful consideration. The address is highly desirable and offers buyers access to one of London’s most sought-after neighborhoods, known for its upscale atmosphere and excellent amenities. The location scores highly for its proximity to top-rated schools, convenient transport links, and the overall prestigious reputation of the area. Nearby streets such as Bute Street command high property values, further strengthening the location’s appeal. 

However, the property’s condition is a major factor. The images clearly show it is currently under extensive renovation. Buyers must be prepared for significant investment in completing the refurbishment. The interior is mostly unfinished and needs a complete fit-out to reach a habitable standard. While the potential is there to create a luxurious home, the considerable effort and expenditure required should not be underestimated.

The property also includes a significant balcony which gives the property some outdoor space, a rare and valuable asset in central London. This space is considerable and provides a bonus to the property. 

Considering the high price point of £3,000,000, potential buyers need to weigh the considerable renovation costs against the eventual value of a fully refurbished property in such a prime location. The pricing requires a thorough comparison with other renovation projects in South Kensington to assess its market value. While the area commands very high prices, the current state of the property means this price reflects the potential value after renovations, but does not directly reflect the value in it’s current condition. Therefore it is important for a buyer to have a good grasp on construction costs in the area to make a sound investment decision.

Therefore, we give this property 6 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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