Real Estate Investing,  Travel & Lifestyle

A 17th century London estate once home to the Queen Mother is on the market for $61M

550 Kings Road (Credit: Google Maps, Wikipedia)

550 Kings Road (Credit: Google Maps, Wikipedia)

A 340-year-old estate in central London is on the market for the first time in two decades.

The Stanley House and the acre it sits upon in Chelsea is asking $60.7 million, according to the Wall Street Journal. The massive home spans more than 15,000 square feet with eight bedrooms and nine bathrooms.

The Stanley House is no closet, but is dwarfed next to the 62,000-square-foot mansion that sold in January for a reported $262 million to Hong Kong real estate tycoon Cheung Chung-kiu.

The Stanley House was built all the way back in 1680 by naval officer Sir Arthur Gorges, but has changed many hands since then, including to a member of the British royal family — the great-great-great grandmother of the ever-popular Queen Elizabeth The Queen Mother.

The current owners are Natasha and Konstantin Kagalovsky, a Russian-born couple. The Kagalovsky’s bought the house in 2002 from the College of St. Mark and St. John, which had owned it for more than 150 years. The home is a Grade II listed Georgian masterpiece.

Natasha Kagalovsky said the home “dilapidated” when they purchased it for just under $18 million. It took four years and more than $13 million to restore the home. That included scraping off several layers of paint and paper from the wood-panel walls, replacing a destroyed staircase with a replica, and new timber floors.

“There were no bathrooms, no proper plumbing, these huge holes in the floor — we still do not know why,” she told the Journal.

Perhaps the most unique part of the house is its large ground-floor indoor swimming pool. [WSJ] – Dennis Lynch

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