Selling a famous property: from music legend to murder.

From the former home of a music legend to the site of a murder, the history of a property can arguably affect its selling price and can make it hard to value, as a number of recent examples illustrate.

At a recent auction, the former childhood home of Sir Paul McCartney in Speke, Liverpool achieved a sales price 50% higher than market value. The winning bid of £150,000 was reached in 6 minutes and was £50,000 over the guide price.

The property was sold by estate agent Entwistle Green.

“We are delighted for our client as we were consciously aware that there was a lot of interest in the property and we wanted to ensure that this translated into achieving the best price possible for them.” commented Stephen Giddins, regional sales director at the company,

Of course, it’s not the first former home of members of The Beatles to be sold at above market value. George Harrison’s former home in Speke sold for £156,000 and John Lennon’s childhood in Wavertree, sold at auction for £480,000 – all considerably over the value of similar properties in the area – its history had a quantifiable monetary value.

Famous homes on the market recently included Liz Hurley’s gorgeous country property, on with Knight Frank. Bought for £3.3million in 2003 and now for sale at £6 million, is it worth this without the famous connection?  I guess it depends on whether she leaves THAT amazing black and safety pin Versace dress in the wardrobe for the next owner!

Selling a property with positive notoriety and ‘bragging rights’ arguably significantly increases the value, and definitely helps achieve online and offline media coverage.

However, what if you are the agent selling a property that is famous for all the wrong reasons? A notorious house with a grim recent history…

Last year, according to IBtimes.com, over £60,000 was wiped off the value of the property in Perugia, Italy where British student Meredith Kercher was stabbed to death in 2007. This property’s horrific history is now world famous.

The initial asking price for the property was £380,000 but estate agents Tecnocasa were quickly forced to drop the price to £312,000 for a quick sale, saying,

“…it has not been easy to find potential buyers who are willing to overlook the fact that a murder took place there.”

Some good advice on selling a property with problems comes from Oliver Clarke, Sales Manager at Barton Wyatt, who points out:

“We are legally obliged to disclose a fact which could alter a person’s decision process, as the positive and negative examples above illustrate. Fortunately no murders that we are aware of are currently on the market – although it has been known to happen…’’

Oliver continues,

“Information in the public domain about a neighbour with an ASBO should be mentioned before the sale is agreed.  Likewise, if agents know there has been a string of burglaries nearby, they should also point this out. If there has been a murder or suicide in the property, the buyer should be told.”

Have you been the agent selling a famous or notorious home – we’d love to hear all about it!

Alex Evans

You May Also Enjoy

Breaking News

Popping the Asking Price Bubble

Where in the Uk Can Buyers Snap Up Property Bargains and Where Properties Go for a Premium Above Asking Price   New research from fast selling property company, Upstix has uncovered the UK’s most surprising postcodes for snapping up a property at bargain prices this year, highlighting a widening gap between sellers’ expectations and the…
Read More
Rightmove logo
Breaking News

Highest demand to lease office space since pre-pandemic

The latest insights from the UK’s number one commercial property website Rightmove, reveals that the number of unique enquiries to lease office space is at its highest point since pre-pandemic, as businesses look for spaces that meet modern requirements. Demand to lease office space is 19% higher than the same period a year ago and…
Read More
Planning disputes on new build land
Estate Agent Talk

Planning consultations for major infrastructure to be streamlined

Robert Bruce, a planning and infrastructure partner at law firm Freeths LLP, said he: “Welcomed the change as a significant step to speeding up the DCO process and the focus on the quality and effectiveness of the consultation, rather than box ticking and a risk averse approach to pre-application consultation due to the current legal…
Read More
Breaking News

‘The property ladder pulls further away’ warns Open Property Group

For many first-time buyers across England, the dream of homeownership continues to slip further out of reach. Despite rising wages, soaring house prices are making it harder than ever to get on the property ladder. A leading UK professional house buying company ‘Open Property Group’ based in Buckinghamshire UK, has raised concerns over the ongoing…
Read More
Estate Agent Talk

How Long It Takes to Buy a House in the UK: 5 Common Delays That Can Slow Down Your Home Purchase

Wondering how long it takes to buy a house in the UK? The average timeline ranges from 8 to 22 weeks, but even that can stretch significantly due to unexpected delays, especially if you’re a first-time buyer or caught in a chain. That’s why working with experienced professionals like Belvoir — one of the UK’s…
Read More
Love or Hate Rightmove
Breaking News

Rightmove to host Renters’ Rights Bill webinar with Guild of Lettings

Rightmove is hosting a live and interactive webinar session with the Guild of Lettings to help agents get Renters’ Rights Ready. The webinar will take place from 10:00am – 11:00am on Wednesday 23rd April. Susie Crolla, Managing Director for the Guild of Lettings, will be joining Rightmove to help agents with questions they may have about…
Read More