Katie Price’s Mucky Mansion was sold for less than she originally paid for it a decade ago, despite a general rise in property values over the years.
The glamour model's mansion, which she bought for £1.35 million, was originally listed for £1.5 million, and it was believed a buyer had been found. However, the sale fell through, and the asking price was slashed by a whopping £150,000 as a new owner is sought. The property remained unsold, leading to another price reduction.
With its reduced price of £1.15 million, Katie has finally secured a buyer for the property. A public notice on Rightmove confirms: "Mortgagees in possession are now in receipt of an offer for the sum of £1,150,000."
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Katie won’t receive any money from the sale if it goes through as she no longer owns the property. The former glamour model,46, was legally evicted from her sprawling mansion in May after she was declared bankrupt for the second time in March. The TV personality was declared bankrupt over an unpaid tax bill.
Katie lived at the nine-bedroom home for a number of years before being evicted for failing to pay the mortgage. The lavish property, which sits on 12 acres of land, was the feature of a TV show with the star. She bought the home from Tory grandee Francis Maude in 2014.
Katie Price’s Mucky Mansion was sold for less than she originally paid for it a decade ago, despite a general rise in property values over the years
However, any sale will see the money reportedly be used to pay the model's debts she previously ran up against the Sussex home. It's said Katie owes the taxman £750,000 and was declared bankrupt for a second time.
After Katie moved out, the property was left in a severely neglected state. The grounds became overgrown, the swimming pool water turned green, and cleaners had to clear piles of rubbish and remove abandoned vehicles before it could be listed for sale. Reports claim that over 20 tonnes of waste needed to be cleared to make the property market-ready.
The glamour model's mansion, which she bought for £1.35 million, was originally listed for £1.5 million, and it was believed a buyer had been found(Image: Channel 4)
A renovation in July transformed the mansion, making it unrecognisable compared to its state during Katie's ownership. The property, originally nicknamed the "Mucky Mansion" due to its disrepair, was a source of frustration for Katie. She once said: "I absolutely hate the Mucky Mansion, even how it's been called the Mucky Mansion because of all the stuff that happened there before."
Daughter Princess Andre also previously explained her own thoughts on the home, sharing her dislike of the property. Speaking on the show, the then 14-year-old said: "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 show centered on Katie's efforts to transform her 19-room, vandalized, and uninhabitable mansion into a permanent family home. It lasted for two series but was discontinued as her financial difficulties persisted.
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