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Number 11 Downing Street. Yours for £12m.

As the Chancellor decides on the fate of the nation in Wednesday’s Budget, we ask how much would No.11 Downing Street set you back if it came on the market'   The residents may be about to move, depending on events. Removal vans could soon be seen in the street. But, for obvious reasons, No. 11 Downing Street is no ordinary London town house. The terraced property dates back to the seventeenth century, although it was not until the nineteenth century that Chancellors of the Exchequer started living there. It actually has more private accommodation than No. 10 Downing Street, necessitating a swap between George Osborne and David Cameron. The Prime Minister lives above the shop in No. 11, because there is more room for his small family. The Chancellor slums it in No. 10. Tony Blair and Gordon Brown had a similar arrangement. But how much would No. 11 be worth, if it came on the market' It makes a nice what-if game for the week of the Budget. Ed Foley of Winkworth estimates, after benchmarking No. 11 against period properties of similar size in the area, that it would fetch around £12 million. “Properties in SW1 typically fetch around £2,200 per square foot, and this one is around 4,500 square foot. One would add a bit extra for the special decorative features that a property of this period would have.” This is a very large figure but, for the sorts of people happy to pay similar sums in Knightsbridge or Mayfair, not totally ridiculous. The notional buyers could be woken by the chimes of Big Ben and take an early morning jog in St James’s Park. And they would be making a good investment, too. If No. 11 was Mr Osborne’s private residence, he would be laughing all the way to the bank. In 2010, the year he became Chancellor, the average sale price of a house in SW1 was just over £2 million. Now it is over £4 million. You can see why he is so reluctant to move.   Click here for 10 homes to live the Downing Street life for less.

As the Chancellor decides on the fate of the nation in Wednesday’s Budget, we ask how much would No.11 Downing Street set you back if it came on the market'

  Politicians Arrive in Downing StreetThe residents may be about to move, depending on events. Removal vans could soon be seen in the street. But, for obvious reasons, No. 11 Downing Street is no ordinary London town house. The terraced property dates back to the seventeenth century, although it was not until the nineteenth century that Chancellors of the Exchequer started living there. It actually has more private accommodation than No. 10 Downing Street, necessitating a swap between George Osborne and David Cameron.

The Prime Minister lives above the shop in No. 11, because there is more room for his small family. The Chancellor slums it in No. 10. Tony Blair and Gordon Brown had a similar arrangement. But how much would No. 11 be worth, if it came on the market' It makes a nice what-if game for the week of the Budget.

Ed Foley of Winkworth estimates, after benchmarking No. 11 against period properties of similar size in the area, that it would fetch around £12 million. “Properties in SW1 typically fetch around £2,200 per square foot, and this one is around 4,500 square foot. One would add a bit extra for the special decorative features that a property of this period would have.”

This is a very large figure but, for the sorts of people happy to pay similar sums in Knightsbridge or Mayfair, not totally ridiculous. The notional buyers could be woken by the chimes of Big Ben and take an early morning jog in St James’s Park.

And they would be making a good investment, too. If No. 11 was Mr Osborne’s private residence, he would be laughing all the way to the bank. In 2010, the year he became Chancellor, the average sale price of a house in SW1 was just over £2 million. Now it is over £4 million. You can see why he is so reluctant to move.  
Click here for 10 homes to live the Downing Street life for less.

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