Chestertons Estate Agents says ..

Property Oracle says ..

This one-bedroom flat located on Ennismore Gardens in Knightsbridge offers a prime address within a prestigious area of London. The location is undoubtedly a significant asset, offering proximity to upscale shopping, Hyde Park, and excellent transport links. However, the property is currently in a state requiring extensive renovation. The interior photographs depict a property stripped of its features, indicating significant work is needed to make it habitable. The condition makes the property unsuitable for immediate occupancy and will require a substantial financial investment to refurbish it. The amount of land associated with the property appears minimal to nonexistent. This is common in this densely populated area of central London. The list price of £675,000, in context with other properties in the immediate vicinity, which range from substantially lower to dramatically higher values depending on condition and size, requires careful consideration of the costs associated with renovation and modernisation. While the location command a high price, the current state of disrepair significantly impacts the overall value. Therefore, a potential buyer should approach this opportunity with a keen awareness of the extensive renovation costs and realistic appraisal of the return on investment once the property is fully renovated and in sellable condition. A development opportunity should be reviewed very carefully to determine potential profit margins. An independent professional valuation is strongly recommended before committing to any purchase.

Therefore, we give this property 5 / 10. *Disclaimer: This is our option and does constitute a recommendation or financial advice. Do your own research. *

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