KATIE Price’s ‘Mucky Mansion’ could be “unsellable” due to its squalid state and it being tarnished with her name, claims a property expert.
This week, the former glamour model, 45, was declared bankrupt for a second time over an unpaid tax bill.
As a result, her four-bedroom country estate is set to be repossessed.
Under the terms of Katie’s bankruptcy, it would take “exceptional circumstances” for her to keep hold of the messy house, which is in the quaint village of Dial Post, Horsham, West Sussex.
The property has been a bomb site for years having been burgled and flooded.
It has also fallen victim to an overflowing septic tank and, most recently, Katie’s ex Carl Woods had been using the garden as a vehicle forecourt for his used car sales business.
Any potential purchasers would also need to check that planning rules have been adhered to when it comes to the mum-of-five’s ‘home improvements’.
Katie paid £1.35M for the property back in October 2014.
According to experts, if it was in a fit state, then property prices in her upmarket area suggest she could get double what she paid – which is £2.7M.
But at best, it could be worth £1.5M.
This is despite Katie fronting her own Channel 4 show, Katie Price‘s Mucky Mansion, and attempting an ambitious renovation.
Property expert David Votta – former president of property regulatory body Propertymark – says: “It could be unsellable because who is the target audience? Someone who is proud to say, ‘I lived in Katie Price‘s house’?
“Whereas, if you said you lived in someone like Liberace‘s house, it’s a different story.
“Therefore, the buyer of this place may be an investor that would probably want to demolish it and start again, or spend millions getting it to the standard they want, and the numbers may not stack up.”
David, who now runs Votta Sales & Lettings, added: “To be completely honest, nothing is unsellable because everything has a price and a property is only ever worth what somebody is willing to pay for it.
“So, from the experience I have and factoring in the condition the property has been left in, I would say it’s worth around the £1.5M region.
“There’s issues such as the septic tank not being emptied, causing overspills, the use of land for commercial purposes in selling vehicles. And the imagery I have seen online, the ceiling in the kitchen is falling down.
“It’s important to note that this doesn’t factor in a full structural survey, and the age of the building as well, therefore it could even be less or slightly more.”
Step inside the life of former glamour model Katie Price
Ronnie Clarke, managing director of Castles Estate Agency in Boxmoor, Herts, values “Mucky Mansion” at a similar price, with it being worth around half the price per square foot of other properties in the area.
Katie’s home is next-door to the busy and noisy A27 and opposite a giant garden centre.
Ronnie says: “It’s clear to see the house is in a serious state of disrepair. Good homes sell for between £400 and £450 per square foot, my records show that the house is approximately 5000 square foot on 12 acres.
“Given the state of repair, the land and the distance to the road and the commercial zone I would estimate the house is worth around £250 a foot, that makes the house at £1,250,000.”
In a desperate attempt to make some money, Katie has this week slashed the price of her OnlyFans subscription fee.
Katie has also confirmed her disabled son Harvey, 21, has been forced to leave his residential college, which costs £350,000-a-year.
