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The Guardian: "Inside 'Billionaires Row': London's rotting, derelict mansions worth £350m"

"The North London street where billionaires can buy homes, never live in them, let them rot and still make millions"

Link to web site

"A third of the mansions on the most expensive stretch of London's 'Billionaires Row' are standing empty, including several huge houses that have fallen into ruin after standing almost completely vacant for a quarter of a century.

"A Guardian investigation has revealed there are an estimated £350m worth of vacant properties on the most prestigious stretch of The Bishops Avenue in north London, which last year was ranked as the second most expensive street in Britain.

"... Boris Johnson has defied Downing Street to call for taxes to be cranked up on owners of vacant properties. He told City investors this month: 'London homes aren't ... just blocks of bullion in the sky.' He called for owners to live in their homes or rent them out. But the government has resisted attempts by councils, backed by the mayor, to multiply council tax rates on homes left empty for two years."

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