As stately homes go, Doughty House on Richmond Hill, Richmond, London, must be one of the most sought-after having originally been built in the 18th century only to be damaged by the Luftwaffe in the Second World War. The property was named after Elizabeth Doughty who lived there from 1786 although it has changed hands on various occasions over the years. The property saw the introduction of a 125 foot long gallery in 1885 to house the then owners’ family art collection adding another leg to its already growing reputation for style and class.
However, it is now on the brink of a £30 million renovation and could be yours for just £100 million.
K10 Group development
Doughty House was acquired by the K10 Group with the idea of renovating and refreshing the property which is said to rival Buckingham Palace in terms of size and luxury. As we touched on above, the cost of renovating the property will hit £30 million although there is a unique opportunity for a buyer willing to stump up £100 million. They will be heavily involved in the renovation which can be tailored to their own individual tastes – a fairly unique offer!
To give you an idea of the size of the project, the K10 Group has spent the last four years putting together a top class team of architects and construction companies. International design companies have been commissioned to create a look and feel which reflects the property’s unique charm and history. The project is not expected to be finished for at least another two years and with 18 months of actual construction work there is still time for a rich investor to help create the ultimate luxury home.
The Doughty House project
A number of details of the renovation have already been made public and we promise they will take your breath away. It will involve:-
48 chandeliers
9000 reclaimed bricks
70+ tonnes of concrete for the underground car museum
70 miles of high-tech cabling
12 grand fireplaces
£4.5+ million worth of bespoke joinery
72 main restored windows
20 different types of stone and rare marble
At a glance it is difficult to understand how one stately home can accommodate so much material but then again if it is to rival Buckingham Palace it will need to be something special!
Influencing the renovation
There must be a relatively small market for investors looking at stately homes costing £100 million. We know there are some celebrities who like their real estate, there are many investment companies who would be interested but it is the chance to influence the renovation and style prior to the renovation beginning which makes this one standout. Whether this would lead to an extension of the timescale remains to be seen but then again two years to renovate the property seems like a fairly long time?
A slice of history
It is fair to say that a purchase of Doughty House is akin to buying a slice of British history and a stately home up there with the best of them. The pool of potential buyers may be relatively small but we know there are investors out there who acquire such properties. We also know they would scramble over each other for the opportunity to be involved in the renovation on the ground floor.