It is the dream of every middle-class man on the planet to spend at least a single day in a huge mansion and live life king size. However impossible that may sound, we all dream of it! But, did you know that there are people on this earth who have actually bought such huge and dream mansions and forgotten about that later? Believe it or not, but there is evidence of multiple such posh houses, bungalows and mansions across the world that belong to the super rich but are lying in shambles and falling apart because they were never adequately taken care of!
Everyone who has visited London in their life or read about the most lavish and posh areas in the city must surely know the Bishops Avenue. Located in the northwest part of London, the Bishops Avenue near Hampstead area is one of the most expensive streets in the world for buying properties. Did that just build up some excitement in you? Well, although this is one of the most expensive streets, the houses here will fill you with disappointment. A live personification of poor maintenance, this street houses some of the largest, huge and beautiful mansions of the world that are now lying in shackles and falling apart since they were never maintained or taken care of.
But, the rates of these properties, however, will take you by surprise. Worth several billion, the rates of these properties, instead of falling down, have gone up immensely. But, their filthy appearance is now spoiling the beauty of the street and also of the neighboring areas.
The street boasts of about 66 empty mansions, out of which, almost six are falling into bits and pieces while some others are going beyond repairs.
Bishop of London Owned the Land
This is a huge, beautiful and elegant house standing on the Bishops Avenue which was owned by the Bishop of London in 704. The pretty house is named the Royal Mansion which is still beautiful and stands elegantly. The house was sold off to the Church of England in the year 1894 and, since then, it has changed several hands. Currently, the pretty mansion belongs to a 75-year-old billionaire named Hourieh Peramaa. It is reported that he is currently planning renovations in the house worth $50 million.
16 Empty Mansions Out of 66
You might have never known of this and wondered why these huge mansions and elegant houses have been left vacant by billionaires for years. But, leaving a property vacant for years, especially the large mansions and estates of this kind, is actually beneficial for the billionaires in a number of ways. If such a property is left vacant for several years by an owner, he gets tax concessions on them. In the UK, the properties that are left vacant or abandoned by owners for more than two years qualify for reduced cost of renovation. And, if such as a structure is later leveled and newly built, there is absolutely zero VAT applicable on the building costs.
Property Values Increase 11%
The Bishops Avenue is known to be a noisy place that is always flooded with traffic and is crowded, making it a terrible place to stay. Most owners of the huge and beautiful mansions on this street do not actually stay in these houses although they are very accurately maintained. Real estate agents, however, are of the opinion that once new and luxury apartments are built on this street, it would attract a whole new class of buyers and wealth would flow in. The street, on the northwest of London, is also projected to become one of the richest areas of the world in a couple of decades.
Current Market Price – $109.1 Million
Although most of the huge mansions on the Bishops Avenue are falling apart and lying in shackles, their prices have been soaring high constantly instead of falling down. The street was once called a Millionaire’s Row, but the prices of the properties in this area have soared so high over the years that an average millionaire cannot afford them. The street has therefore gone ahead to be called the Billionaire’s Row, housing huge mansions and properties that have a current market price of $109.1 million. The prices are projected to rise even more in the future.
10 Owned by House of Saud
Billionaires have multiple properties in their name and most of these are bought at investments. Obviously, it is impossible for one to stay in all the houses because of which most of the mansions are left behind to decay and rot due to low maintenance. The picture clearly illustrates the poor state of a beautiful mansion that was once a well-appointed room. Although the house is falling apart, the walls decaying due to dampness and the roof falling down, we can see the beautiful crystal chandelier hanging from the roof, still adding elegance to the room. The only things that are in good condition in the room are the chandelier and the swag curtains.
The Towers is a beautiful mansion that once posed very elegantly on the Bishops Avenue, the second highest valued street in London. The structure that was once elegant and exquisite is now lying in ruins. The mansion’s ceiling has already come down and its inside and outside have become similar with creepers, branches and limbs growing on them. A glance at this falling mansion will, in fact, give you the feel of it being an abandoned structure lying in a secluded place such as a desert.
Redcroft, as seen in the picture, is one disintegrating mansion that is falling apart and has gone beyond repairs. This huge structure, however, was known to host palatial pool parties for the rich and billionaires once upon a time. Looking at its current condition, the mansion would be require leveling and rebuilding if it is to host such elegant and grand parties for the rich again.
4. The Georgians
The Georgians is another such huge mansion on the Bishops Avenue in London which was once an elegant and beautiful structure, currently left to rot by its owner. The structure was owned by the Saudi Arabia Royal Family when it stood gracefully and elegantly. The picture, however, depicts the poor state of the mansion presently. The curtains, that were once a symbol of wealth and adornment, are now rotting in the sun while ceiling gives in slowly one by one. Anil Varma, a well-known developer, refers to these mansions as ‘the most expensive wastelands in the world’.
Refurbished Health Hall on the Market – $168 Million
The Health Hall, as of the recent listing, is one of the most expensive structures on the Bishops Avenue. The mansion was originally built for the sugar magnates, Tate and Lyle and was later owned by the Bank of China. Since then, it has been abandoned and left in despair. Later on, the house was sold off to Andreas Panayiotou who also refurbished it. Currently, the house is quoted at a price of $168 million which is the highest in UK’s real estate market. The large and elegant mansion has over six reception rooms, 14 bedrooms, a wine cellar, a panic room and a cinema.
The large and elegant mansions on the prestigious Bishops Avenue have international owners. These billionaires are owners of multiple properties across the world. When you have properties in abundance, it is not possible to maintain all of them well which has now resulted in the miserable state of these mansions. Although these structures have been neglected by their owners for years, they are still making huge money.
Bishop’s Avenues Other Properties
Amidst the abandoned huge mansions falling into pieces on the Bishops Avenue here is a perfect example of what a billionaire’s mansion must look like. This exquisite, sophisticated and classy structure is the Royal Mansion owned by Hourieh Peramaa. The house, a personification of beauty, was transformed into a contemporary palace by its owner. Surely, this is one mansion we all would love to see in person, isn’t it?