AN iconic Grand Designs 10-storey water tower that busted the budget by a whopping £1.5million has hit the market for £2.75million.
The asking price of the Victorian 100ft landmark in Kennington, South London, has been slashed by almost £4million.
Featuring on the 100th episode of Kevin McCloud‘s Channel 4 show, property developer Leigh Osborne and his partner, Graham Voce, put everything on the line to transform the property into a luxury home.
Purchased by the pair for £380,000 in 2011, Mr Osborne and Mr Voce expected to throw around £600,000 at the project.
But the final bill amounted to an eye-watering £2 million, with the glazing alone rumoured to cost £250,000.
Workers replaced 4,000 bricks, fitted 47 windows and removed more than 200 dead pigeons.
The finished renovation, which boasted a glass-fronted cube extension with panoramic views across the capital, was labelled a “jaw-dropping showstopper” by host Kevin.
The iconic home is now listed for sale on Rightmove for £2.75million, described as “an astonishing series of staggered spaces soars to dramatic views of the city”.
But the asking price is a far cry from the £6.5million sought by the original developers in 2013 after its TV fame.
The property failed to sell and was instead transformed into a popular Airbnb.
In 2021, the Grade-II listed water tower was sold to commercial director Jamie Hamer for £2.5million.
Mr Hamer moved in the home with his friend Susanna Citrano, an architect, and their two dogs, revealing Grand Designs fans would turn up on their doorstep hoping for a snoop around.
The businessman told Rightmove in 2022: “We often get people ringing the doorbell asking if they can take a look around.
“Then some will ask where the buzzers for the other flats are. They’re surprised to find out it’s one home.”
Mr Hamer and Ms Citrano added a hot tub to the terrace, from which you can see the Houses of Parliament, the London Eye and the Shard.
Ms Citrano previously joked: “When we first moved in, we could never find each other so would WhatsApp, “Which floor are you on?
“We ended up putting different pieces of art on each stairwell so we knew where we were, as we kept getting lost.”
The 1867 tower originally served Lambeth Workhouse next door where Charlie Chaplin stayed as a child, containing a tank which held 38,000 gallons of water.
The property, now marketed by DDRE Global, features six bedrooms and four bathrooms across its levels.
The listing states: “Rescued from dereliction and converted under the eye of Kevin McCloud for Grand Designs’ 100th episode, it is now a remarkable family-sized home that pairs Victorian engineering with contemporary design.
“The accommodation unfolds vertically, linked by an original Yorkstone staircase and a separate lift tower with glazed bridges.
“Five double bedrooms and four bathrooms are arranged across the tower’s floors, each with its own character, thick masonry walls and tall arched windows.
“At ground level, a glass and steel extension known as the Cube provides lateral living space. It holds an open-plan kitchen and reception room with full-height sliding glass doors, and a roof terrace sits above.
“The crowning feature is the Prospect Room, created within the original cast-iron water tank.
“With openings on every side, it frames panoramic views across Westminster, the London Eye, the City, the Shard and Canary Wharf, making it a living or dining space without equal in the capital.”