£18 million home on sale in Wimbledon

The highest property price South London has ever seen has been put on a luxury home called 'the Old Embassy' in Wimbledon.

Bob Camping of Camping Property is the developer behind the high-end home which he has transformed over two years, from its former status as the Gabonese Embassy into a lavish family residence with a price tag of £18 million.

The property, which has attracted interest from the likes of tennis ace Andy Murray and Hollywood star Russell Crowe, boasts an array of impressive features, including a hallway tiled with Italian marble; a double-height master bedroom complete with dressing rooms, roof terrace and open fireplace; a large study; a basement cinema with sofas, tables and a snooker table; a glass-walled fully kitted out gym; a temperature-controlled wine cellar; televisions in the showers and baths; a pool with sliding doors leading to a sunken terrace; and a beautiful lawn bordered with flowers to create the perfect space for a garden party.

Mr. Camping's buy-to-let portfolio began 12 years ago when he bought property in Eaton Square. The homes increased in value and he successfully sold a number of them at the peak of the housing market. He is now confident that the Old Embassy will attract a buyer.

"Low interest rates are keeping the top end of the market moving freely. Most people have been able to hold on to their houses so if you want a good thing you've got to pay a good price," he says.

Despite the fact that Wimbledon was among the first suburbs in the City to feel the impact of the housing market downturn two years ago, Lucian Cook of Savills Research – a team which offers research services and consultancy across all sectors of the real estate industry – is optimistic about how the area will fare this time around. He believes that Wimbledon's transport links and urban village feel will help it to keep its prime status.

Source: Telegraph.co.uk | Last updated: 18th March 2009

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