Baroness Thatcher’s last permanent residence is being massively renovated and may sell for a whopping £30 million, according to a new report in the Sunday Times.
The Chester Square property was first purchased by the former British Prime Minister in 1991 for £700,000. But the house has fallen into disrepair, and Baroness Thatcher moved from the house into the Ritz Hotel courtesy of the Barclay brothers who had long been supports of Lady T.
The property is in the Belgravia area of London, close to Victoria train station and walking distance from Buckingham Palace. It is thought that the town house will need to undergo major repairs before it can be sold – with interest emanating from fans of the former Prime Minister, as well as property investors.
It was last registered to a company housed in the British Virgin Islands, and was sold to that company for £2.4m in 2006. Then last years, Leconfield Property Group purchased the property for around £12m.
Plans show a basement extension, vaults and a media room are part of the renovations for the property. A lift will also be installed and the rear wing will be converted into a new, two-storey mews building.
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