Homes & Property is no stranger to an unusual property sale — we’ve seen underground bunkers, airspace and a hill advertised — but this is a new one.
Two South Kensington rooftops have hit the market for £200,000.
The neighbouring rooftops, located at 55-57 Gloucester Road, are connected and registered as a separate address with their own title deeds, says Next Home Ltd agent Glenn Jacobs.
Jacobs was approached by the rooftops’ owner after he successfully sold a balcony for £35,000 on nearby Stanhope Gardens. The terrace gained around 400 enquiries in total, and eventually sold to a homeowner nearby who intended to use it for its parking permit.
“I like a quirky instruction,” says Jacobs. “Something that gets the creative juices flowing.”
The roof space covers 1,600 square feet, and is being advertised as “a rare chance to create a bespoke living space or potentially lucrative development”. It is accessible from inside the building, and does not come with utilities like water or electricity.
The rooftops are being sold on a 980-year lease and include the airspace above.
Jacobs says that there is potential for the roof space to be made into a terrace or redeveloped, subject to planning permission. But planning permission is not a guarantee.
The current owner made two planning applications to build a penthouse apartment on top of the building, first in 2012 and more recently in 2020.
Both were refused by Kensington and Chelsea council on the grounds that the extension would be “overly prominent, visually obtrusive and incongruous”, and “fail[ed] to preserve or enhance the character or appearance of the conservation area”. The owner appealed the decisions, but both were dismissed.
That said, the 2020 application showed that two other rooftops on the same terrace have been developed, including a penthouse-style extension at 41-43 Gloucester Road which was constructed before it became a conservation area.
It quoted guidance which states that roof-level development should be “sympathetic to the age and character of the host building”, and “of high architectural and urban design quality, preserv[ing] or enhanc[ing] the appearance and character of conservation area.”
“It’s quite a size,” says Jacobs.
“I think it would be appealing to people who would look to potentially get planning to build a unit up there. A couple have done that. But I wouldn’t be surprised if someone built a terrace up there. Terrace spaces are at a premium around there.”
The property’s owner, a retired lord, bought the roof space for £96,000 in 2012. He did not develop the rooftops, and has now chosen to sell.
“They just retained it as an asset,” says Jacobs. “It’s time to cash in on that and use it for the retirement.”
It has been listed for £200,000, but, says Jacobs, “I wouldn’t be surprised it if actually went for slightly over, given the reaction we’ve had.”
Over the last five years, flats on Gloucester Road sold for an average price of £862,000, while the last house sold for £2,925,000.
Jacobs advertised the property on Monday, and said that the listing received more than 130 views within 24 hours (he would expect a more typical residential listing to achieve 40 to 50).
Four people have already booked in for a viewing this week.
“It’s caught fire,” he says. “As soon as we listed the property, we had five emails and about two or three phone calls.”
Enquiries are continuing to roll in. So far, one person has asked Jacobs about using the address to start a business, but most are interested in developing the space.
“If it’s in the right hands, I think someone could utilise it for investment — they might buy it to develop it further,” says Jacobs. “But I wouldn’t be surprised if someone in the building purchased it for themselves for convenience. The main interest so far has been from people who feel that they can do something with it – put a building there, or a flat, or something along those lines.”
“It’s a very prestigious address,” he adds.
“If you could cop an asset around that sort of area and utilise it, then, for the right person, why wouldn’t you?”
