January 14th 2024.
Imagine yourself living in a charming and lavish houseboat situated on London's serene Regents Canal. This unique floating home has recently been put on the market for £600,000. As the average house price in London continues to skyrocket, with flats reaching an average of £534,781 and houses at £735,648 in the past year according to Zoopla, perhaps it's time we consider living on the water.
Affectionately called The Mothership, this vessel comes with a rare feature in the bustling city of London - a permanent and transferable private mooring. This is a highly sought-after amenity that allows the mooring to be passed on from one owner to the next. According to Danny Brewer of the Unique Property Company, "There are very few left in London, let alone in central London. The Mothership boasts a permanent and transferable private mooring right in the heart of the city."
The prime location of this houseboat in the center of London is hard to beat. With two bedrooms and two shower rooms on either end of the boat, there is ample living space of 391 sq ft. Every inch of the boat has been cleverly utilized to maximize the living area. The main living space also features built-in storage and a fold-out dining table.
The kitchen is a chef's dream with individually crafted cabinetry and storage, an electric oven/microwave combo, gas hob, fridge freezer, and a breakfast bar. A sliding hatch door leads to an additional 379 sq ft of space on the top deck, perfect for relaxing and taking in the beautiful views.
Rosanna Irwin and her fiancé Killian Connolly were spending a hefty £1,700 a month on rent and bills in London. Frustrated with their search for a decent one-bedroom flat, they decided to take the plunge and buy a houseboat. The couple now claim to pay "ultimately nothing" as their Airbnb rentals on weekends cover their loan repayments for the boat. "The boat itself is top-notch, basically brand new," says Danny. "The kitchen is custom-made, and both ends of the boat can be closed off for privacy or left open for an open-plan feel. The main area can serve as a living room or dining room."
The boat does not have an engine, so it cannot be moved without a tugboat. However, with its prime location at the end of the mooring, it offers more privacy and stunning views. "You are tucked away with the best views and a jetty space that can be used as a terrace for enjoying wine and cheese or your morning coffee," adds Danny.
The only catch is that the boat cannot be used as a full-time residence, but rather as a second home for the buyer. The location, however, is unbeatable. "It is right across from Regents Park, and you can reach Camden in just ten minutes or cycle along the canal to King's Cross within 15 minutes," explains Danny. The new owner would also need to pay £12,900 a year in mooring fees, which may seem steep, but as Danny points out, "Being on the water in a permanent mooring is almost like owning a freehold, even though you are paying fees."
Compared to a similar-priced flat on land in the area, the houseboat offers more value for your money. "With a generic box studio apartment, you get a like-for-like price, but with this houseboat, you get more bang for your buck and the wow factor," says Danny. He believes that this unique property will appeal to someone from outside the city who needs a base, but doesn't want to pay high fees for managed concierge properties or settle for a standard studio apartment.
"This is something quite cool, and it would be a great place to entertain," adds Danny. If you have a story to share, please get in touch by emailing us. And for more news on London's property market, visit The Agency's London news hub. As the saying goes, "Swapping mortgages for mooring fees: Why houseboats are a cheaper way of life right now." Just ask Anna, who has called a London houseboat her home for the past decade, but is now moving on. Or Daisy, who took out a loan to purchase her 6ft-wide houseboat for £25,000. Living on a houseboat might just be the exciting and affordable change you've been looking for.
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