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Valuation of house in Stornoway drops by staggering £14million… Can you guess why?

The '£14million property' on  Balmerino Drive
The '£14million property' on Balmerino Drive

A house is in the Western Isles has seen its value drop by £14million – just hours after it was named as one of the most expensive homes in Scotland.

Leading property website Zoopla shocked the owners of the home on Stornoway’s Balmerino Drive when they announced the home was worth an incredible £14,119,713.

Not only did Zoopla name the house as one of the country’s most expensive, they also listed it as having a 10 bed houseboat, while Balmerino Drive was named the second richest street in Scotland.

Zoopla shocked the owners and other Stornoway residents by explaining: “This 10 bed houseboat is located at 11 Balmerino Drive, Stornoway HS1 2TD and has an estimated current value of £14,119,713.

This Stornoway street was named as one of Scotland's most expensive
This Stornoway street was named as one of Scotland’s most expensive

“Balmerino Drive has 32 houses and flats on it with a average current value of £1,876,297, compared to an average property value of £148,800 for HS1 (the Stornoway postcode).

“There have been five property sales on Balmerino Drive over the last five years with an average house price paid of £115,452. There are currently 10 houses and flats for sale in HS1 with an average asking price of £124,500.”

Annabel and Dan Macdonald have lived in the semi-detached property for over 20 years – but as happy as they are in the street they admitted they would happily sell up… If they could really get £14million for the property.

 

Unfortunately for the MacDonalds, once Zoopla were contacted they admitted to making a mistake and reduced the house’s valuation by almost £14million, blaming a ‘technical glitch’ for the original valuation.