In most parts of the United Kingdom, a budget of £1.5 million would typically secure a spacious four-bedroom house, often with ample living space and modern amenities. However, in the highly competitive and desirable north-west London property market, such a sum might not stretch as far as one might hope. Yet, an intriguing opportunity has emerged: a fully detached four-bedroom house is available for exactly £1.5 million in the prestigious area near Hampstead, one of London's wealthiest neighbourhoods. There is, however, a significant catch that potential buyers must consider.
The Hollow House: A Foundation Awaiting Transformation
This property, located on Temple Fortune Lane in Golders Green, is not a move-in-ready home but rather a hollow shell. Photographs reveal that it consists merely of the foundations, with some exterior walls missing and no visible staircase. Exposed brickwork is prevalent throughout most of the structure, indicating that this is far from a finished dwelling. According to the estate agent Moreland, this is 'more than a refurbishment; it is a full-scale rebuild,' highlighting the extensive work required to transform it into a habitable residence.
Planning Permission and Potential Enhancements
One of the key benefits of this property, as emphasised by Moreland, is that it already has planning permission in place for expansion. This significantly shortens the timeline for construction to begin, allowing a new owner to proceed without lengthy bureaucratic delays. Current planning permission permits a single-storey rear extension and the addition of a new bay window, designed to maximise space and natural light within the future home.
Additionally, the new owner could replace all existing single-glazed timber windows with double-glazed timber frames, improving energy efficiency and comfort. Alterations to the roof are also possible, including the installation of a conservation-style roof light on the side elevation. Soft landscaping elements, such as grass, hedges, trees, or flower beds, can be changed without further planning permission, and the current outbuilding could be replaced to suit the owner's needs.
Location and Market Appeal
The house is situated in Golders Green, close to the nearby high street and the Hampstead Heath Extension, offering access to green spaces and local amenities. Moreland notes that it is 'moments' from transport links into central London, though it requires a 16-minute walk to the nearest tube station. Once completed, the estate agent envisions the property becoming a 'high-specification' four-bedroom, three-bathroom house, a configuration highly desirable for the local family market.
A spokesman for Moreland elaborated: 'This design facilitates a modern, high-specification layout – a configuration highly desirable for the local family market. This is more than a refurbishment; it is a full-scale rebuild that allows for complete control over the final design, fixtures, and fittings. This site offers unparalleled potential for capital growth.'
Investment Opportunity and Considerations
For investors or buyers seeking a project, this property represents a unique chance to create a bespoke home in a sought-after location. The £1.5 million price tag reflects not just the land value but the potential for significant appreciation once the rebuild is complete. However, prospective purchasers must be prepared for the substantial costs and effort involved in the construction process, from securing builders to overseeing the entire transformation from a hollow foundation to a luxurious residence.
In summary, while this hollow house in north-west London may seem unconventional, it offers a rare opportunity to build a dream home from the ground up in a prime area, with planning permissions already secured to streamline the process.
