Musharraf`s London home up for grabs for nearly 3mn pounds
Former Pakistani dictator Pervez Musharraf`s refurbished luxury home in London is up for grabs and the asking rate is nearly 3 million pounds, according to a media report on Monday.
Islamabad: Former Pakistani dictator Pervez Musharraf`s refurbished luxury home in London is up for grabs and the asking rate is nearly 3 million pounds, according to a media report on Monday.
Musharraf had bought the house for 1.3 million pounds in 2009 when he was in self-exile in Britain after resigning from the post of president. The 70-year-old had purchased the property for cash and does not have a mortgage on it.
The flat was recently refurbished at a cost of about 250,000 pounds. The entire interior was changed to increase its value.
The estate agent marketing the flat has put its base price at 2,950,000 pounds, which means Musharraf could make a profit of over 1.5 million pounds from the sale, The News daily reported.
The four-bedroom flat on Castleacre, Hyde Park Crescent, near Edgware Road and Marble Arch, is located on the 9th floor and has a double room reception and two baths. It has views over Hyde Park corner and is considered a desirable location for the rich and famous.
Pakistani politicians serving in the current PML-N government and those who were part of previous governments also own properties in the same area of London.
Musharraf`s closest neighbour at this address is former British Prime Minister Tony Blair.
London has witnessed a rise in property values after the a slump in recent years and it is believed that the flat could easily be sold at the asking price, the report said.
The daily said it was expected that Musharraf would spend more time in Dubai than London if he is allowed to leave Pakistan, where he is facing trial on charges of treason.
Musharraf was last week admitted to a military hospital in Rawalpindi after he suffered a "heart attack" while being taken to the special court for the treason trial.
There is widespread speculation that Musharraf might be allowed to travel out of Pakistan for treatment.