Fri 28 Feb 2020
Paul Bennett, Director
Located under London’s streets is a luxurious subterranean world, with beautiful basements continuing to increase the square footage and facilities of hundreds of homes.
Some of the best residences coming on to the current market have been enhanced by these underworld additions, including the former Kensington home of Madonna and Guy Ritchie. In this case, the basement has merely been dug and left unfitted but has it planning approvals in place so the new owner can start kitting out the cavernous space as soon as they move in.
Elsewhere, Tony Blair’s local GP surgery in Connaught Square is subject to a planning application to covert the premises into a £6 million property, complete with basement accommodation.
For us at Behr & Butchoff, we’re proud to be selling this magnificent six bedroom, five bathroom property on Queens Grove, sold with a sprawling basement that’s already finished to immaculate standards. The underground area is home to two en-suite bedrooms, a family/TV room, a utility room, a storage room and the plant room – just one of five floors of outstanding living space.
Adding value as well as space
If you’re in the buying market for a home that’s suitable for a basement conversion, rather than purchasing a ready-made example, prudent budgeting could become a smart investment. Experts suggest that the construction of a typical basement costs between £4,500 and £6,000 per square metre, whereas a finished basement could add value of between £7,500 and £10,000 per square metre to a London property.
For many buyers, adding a basement allows them to realise their dream home, with an almost unlimited number of uses. A good architect will create a design that yields a light-filled asset and maximises the space available. From games rooms and gym complexes to staff accommodation and swimming pools, digging deep remains a popular choice for those purchasing some of London’s finest homes that although stunning, can be restricted in terms of extending to the side or rear.
If you are considering buying a property with the intention of adding a basement, it’s wise to contact the local planning department of the borough in which the dwelling resides, and consult with a structural engineer to realise what may be possible before you make an offer.
The Behr & Butchoff team would be delighted to offer you our local market advice on basements at the start of your purchasing journey. Likewise, if you have a property to sell with a basement in situ, a cellar with conversion potential or have identified that your property could accommodate a basement, please contact our valuation team.