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The derelict mansions on Britain’s ‘Billionaires’ Row’
By Lucy Pawle
This decaying mansion, The Towers, was bought 25 years ago by a prominent Middle Eastern family.
A third of the houses on Britain’s second most expensive street are lying vacant, many abandoned for decades and left to rot.
Behind the padlocked gates and long driveways, up to 20 mansions stand empty on London’s The Bishops Avenue, despite a reported combined value of around £350 million ($582 million).
Dubbed “Billionaires’ Row,” the road’s average house costs over £6 million ($9.98 million), but many have been deserted by their wealthy owners.
Despite their dilapidated condition, the houses remain a safe place for wealthy foreigners to park their money because of London’s rocketing property prices, which rose 11% last year, and because of the road’s reputation as a magnet for the rich and famous.
Source: http://philosophers-stone.co.uk/wordpress/2014/03/the-derelict-mansions-on-britains-billionaires-row/
