London’s billionaire Bishop Avenue mansions are rotting

TRD New York /
Feb.February 02, 2014 09:00 AM

 Bishop Avenue in North London is a prestigious address often called “Billionaires Row” due to the street’s soaring housing prices. But many of the sprawling mansions of Bishops Avenue have sat abandoned for a quarter of a century, collecting moss and slowing rotting.

For instance, the interior of the Tower, a £30 million mansion on the avenue, is full of pigeon skeletons, standing water and shattered glass. And it is just one of at least 16 palatial homes on the street that have fallen into serious disrepair.

Several of the properties, many of which are valued above £50 million, were purchased between 1989 and 1993 by the Saudi Arabian royal family when Saddam Hussein was still a threat, according to the Guardian.

“It’s not a neighborly place where you can chat over the fence,” Magdy Adib Ishak-Hannah, an Egyptian-born healthcare mogul, told the Guardian. “To be honest I have never seen what my neighbors look like. Next door a Saudi princess spent £35m a new house and I’ve never seen her. There are about three houses that are lived in 24/7 and half of the properties are occupied three to six months a year. The other half, who knows if they come or not?” [The Guardian]Christopher Cameron


Related Articles

arrow_forward_ios
Ronnie Wood and his London home (Getty, Milton Stone)

Rolling Stones guitarist Ronnie Wood lists colorful London townhouse

Rolling Stones guitarist Ronnie Wood lists colorful London townhouse
French buyers are gobbling up prime London real estate

French buyers are gobbling up prime London real estate

French buyers are gobbling up prime London real estate
Rents are falling not only in New York but in cities around the world (iStock)

Rents fall in cities around the world

Rents fall in cities around the world
(Photo courtesy of Winkworth)

London’s so-called skinniest home hits the market

London’s so-called skinniest home hits the market
(Google Maps)

Buyers from Hong Kong and China are scooping up London’s luxury inventory

Buyers from Hong Kong and China are scooping up London’s luxury inventory
60 Sloane Avenue in London and Cardinal Pietro Parolin (Google Maps, Getty)

Top Vatican officials approved London property sale under investigation

Top Vatican officials approved London property sale under investigation
Number 22 Bishopsgate

Trophy office towers could become a thing of the past in London

Trophy office towers could become a thing of the past in London
Sir Frederick Barclay and the Ritz London (Photo by Kirsty O'Connor/PA Images via Getty Images, Ritz London)

Sabotage, secret cameras and intrigue: Inside the Barclay family’s feud over the London Ritz

Sabotage, secret cameras and intrigue: Inside the Barclay family’s feud over the London Ritz
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...