Katie Price's infamous 'Mucky Mansion' has been sold for less than its purchase price from ten years ago, despite the overall increase in property values. The TV personality, who originally bought the home for £1.35 million, put it on the market for £1.5 million, but after an initial sale collapsed, the price dropped by a staggering £150,000 to attract a new buyer.
Although initially unsold, the mansion's price was cut again to £1.15 million and now has found a buyer. A public notice on Rightmove confirms: "Mortgagees in possession are now in receipt of an offer for the sum of £1,150,000."
The 46 year old won't profit from the sale as she doesn't own the property following her eviction in May due to her second bankruptcy declared in March over an unpaid tax bill. Price lived in the nine-bedroom house, set on 12 acres, for many years before the eviction, failing to keep up with mortgage payments.
READ MORE: Coleen Rooney's mum says 'I've finally got my daughter back' in heartfelt I'm A Celebrity admission
Any proceedings from the sale are expected to be channelled towards dispatching her debts accumulated against the Sussex property. It is suggested that she owes around £750,000 to the tax authorities and faced bankruptcy proceedings twice, reports the Mirror.
The abode once occupied by Katie was left in a state of severe neglect after her departure; the verdant surrounds turned wild, algae infused the swimming pool a vivid green, and cleaning teams undertook the Herculean task of removing heaps of waste and forsaken vehicles to prepare it for the market. It's reported that over 20 tonnes of detritus had to be removed to ready the property for sale.
A July renovation thoroughly transformed the mansion, making it look nothing like the notorious "Mucky Mansion" it was during Katie's ownership – a moniker she loathed. She expressed her contempt saying: "I absolutely hate the Mucky Mansion, even how it's been called the Mucky Mansion because of all the stuff that happened there before."
Princess Andre, Katie's daughter, also mirrored her mother's sentiments towards the property. On a TV appearance, the young teen at the time shared her unease: "I didn't really like this house at the start. It was a dark house. There were just so many bad memories in it. I didn't even want to walk on the driveway."
The television series focused on Katie's endeavour to convert her dilapidated 19-room mansion into a family home. Despite lasting for two seasons, the show came to an end amidst Katie's continuing financial woes.
English (US) ·