Television presenter Cat Deeley and comedian Patrick Kielty have lowered the price of their North London property. Following their recent separation, the couple has cut the asking price for their Hampstead residence by a quarter of a million pounds.
The £250,000 reduction on a £5 million Hampstead estate
The property, located in the affluent Hampstead area, was originally listed through the estate agency Savills for £5.25 million. As the report indicates, the asking price has now been adjusted to £5 million. This significant price cut highlights the financial complexities that often arise when high-profile individuals must liquidate assets during a separation, particularly when navigating a sluggish property market.
A stalled Los Angeles-inspired vision from 2022
The couple originally purchased the North London home in 2022 with the intention of undergoing an extensive refurbishment. Their goal was to transform the residence into a space with a "distinct Los Angeles-inspired feel" for their family, which includes two sons. However, the separation announced last year has effectively halted these ambitious plans. According to the report, the pair has reportedly never spent a single night in the home because the renovation project was susppended.
Savills pivots from "poor condition" to "positive structure"
In an attempt to attract new buyers, Savills has modified the descriptive language used in the property's sales brochure. The previous iteration of the listing, which explicitly described the building as being in "poor condition," has been completely removed.. The updated marketing materials now reassure prospective buyers that the existing building is a "positive structure," attempting to frame the necessary construction work as an opportunity for customization rather than a major drawback.
Uncertainty over the property's "abandoned" state
Despite the marketing adjustments and the price reduction, several questions remain regarding the sale of the Hampstead estate. It is unclear whether the new £5 million valuation sufficiently accounts for the "abandoned state" that observers noted in previously published images of the property. Furthermore, while the report mentions that the renovation was too demanding to manage alone, it remains unverified exactly how much work is left to coomplete before the home is habitable. The report also leaves unaddressed whether both Deeley and Kielty are in full agreement regarding the revised marketing strategy.
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