ISLAMABAD: A mansion on a super-expensive street nicknamed ‘Billionaire’s row’ has become the UK’s most valuable repossession after going on the market for £30m.
The house, named Dryades, is located in the centre of The Bishops Avenue, a leafy street in northern London.
But the property, owned by a Pakistani political dynasty, has been seized by Deutsche Bank after a lengthy High Court battle, a report in Daily Mail’s online edition said.
The 8,000 square-foot home has now been put on the market by the bank for a staggering £30m, but plans are already in motion to knock the existing house down and replace it with a giant new home.
Planning permission has been granted by Barnet Council for a 46,000square-foot replacement, which could more than triple the present value of the property.
The proposed home would boast 21 bedrooms, 14 bathrooms and 12 reception rooms when completed.
It will also have an acre and a half of gardens, despite being minutes from the busiest parts of London.
The property was bought for around £12m in 2005 by the family of Pakistan?s former privatisation minister SeNator Waqar Ahmed Khan as they looked to invest in the London property market. Internews
