The worst house on the best street? Be Sir Paul McCartney's neighbour for £3.6 million

Here’s one for Sir Paul McCartney fans: a house near his long-term St John’s Wood home is for sale with Robert Irving Burns for £3.6 million.

McCartney bought his house on Cavendish Avenue for £40,000 in 1965, embarking on a months-long refurbishment and finally moving in the following year. It has been his London home since.

Cavendish Avenue is one of the capital’s most in-demand streets, where houses rarely come up for sale. According to the Land Registry, there have only been 20 property transactions on the road in the last 30 years.

The average sold price of houses on the road in the last five years is £6.925 million, according to the Land Registry’s figures.

To Lee Koffman, director of Robert Irving Burns, the £3.6 million house now for sale represents an opportunity to “buy the worst house on the best street,” as the old estate agent’s adage goes.

“Cavendish Avenue is the best road in St John’s Wood,” says Koffman. “The houses on the street are few and far between.

“They’re very rare because once people buy there, they stay on the road for decades and don’t move out, because they’ve got the convenience of everything on their doorstep and yet Cavendish Avenue itself is a very quiet road. The security is off the charts because of the types of people who live there.”

Compared to the listed, stucco-fronted 19th century townhouses on the rest of the road, number 20 was built in 1969 and is “in need of modernisation”.

As well as being more affordable than the street’s listed townhouses, its price per square foot is 20 per cent cheaper than the more modern houses too, at £1,448 compared to £1,731, says Antony Antoniou, CEO of Robert Irving Burns.

“If you’re happy with the look outside and you want to be on the best street, then conceivably it’s a deal,” says Koffman. “Houses on the opposite side are trading at £3,500 to £4,000 per square foot. I can’t compare this house to those, but once this house is done, it’s going to be worth quite a lot of money, being Cavendish Avenue. Someone will trade off the aesthetic of the front of the house to be on the best road in St John’s Wood.”

Source: uk.finance.yahoo.com/Emma Magnus

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