Katie Price’s Mucky Mansion has its price slashed after sale of the double bankrupt star’s former home falls through
The price of Katie Price’s former Mucky Mansion has been completely reduced after a sale fell through.
A buyer had been waiting for weeks to be found for the £1.5million home after the former glamor model was evicted for failing to pay the mortgage.
But the nine-bedroom home is back on the market for a drastically lower price tag after previously being listed.
A new advert for the house shows it is now selling for £1.35 million.
It represents a sharp drop of £150,000 for the country house, set in 30 acres, which was central to Katie’s life for many years.
Katie Price’s former Mucky Mansion has had its price completely slashed after the new sale fell through
A buyer had been found for the £1.5million home, weeks after the former glamor model was evicted for failing to pay the mortgage
Katie won’t see a penny for the sale as it stands because it will be swallowed up by the debts she previously incurred against the Sussex house.
When the house was first put on the market, a brochure told potential buyers not to fall into Katie’s empty pool, and also warned that the land could become contaminated by waste.
An online advertisement said the pad could be converted into an ‘impressive family home’ after renovation.
With no mention of its famous former owner, the advert described the property as: ‘A substantial detached family home with three reception rooms, nine bedrooms and four bath/shower rooms over three floors plus a one bedroom outbuilding.’
Bailiffs evicted the star and her family from their West Sussex home in May after she failed to make monthly mortgage payments.
The former model had paid £1.35 million for the property from former Tory colleague Francis Maude in 2014 and it was featured in a Channel Four series as she attempted to renovate the house.
When she moved out, she claimed the house was “cursed.”
About Mucky Mansion, she said, “I only have bad memories in that house,” and emphasized that moving will be the start of a new chapter in her life.
But the nine-bedroom home is back on the market for a drastically lower price tag after previously being listed
A new advert for the house shows it is now selling for £1.35 million. It marks a steep drop from £150,000 for the mansion, which sits on 12 acres
Bailiffs evicted the star and her family from their West Sussex home in May after she failed to make monthly mortgage payments
The former model had paid £1.35 million for the property from former Tory colleague Francis Maude in 2014 and it was featured in a Channel Four series as she attempted to renovate the house.
Cleaning crews were called in to clear the piles of rubbish and refurbish the property before it was put on the market by local estate agent HJ Burt.
It comes as Katie shared a sweet selfie with her son Harvey as she continued to enjoy her holiday in Cyprus on Monday.
Katie showed off her tan in a yellow strappy bikini as she relaxed by the pool and wore large dark sunglasses to protect her eyes from the sun.
Harvey looked like he was enjoying the trip as he posed for a matching pout with his mother.
Katie simply captioned the new Instagram post with a series of sunny emojis as she updated her 2.7 million followers.
Katie’s financial problems
2019 – Katie was declared bankrupt with debts of £3.2 million from her failed company Jordan Trading Ltd, which was set up to oversee her perfume and cosmetics line.
She founded the company in 2003, but in 2017 an application was made to liquidate the company as she tried to get her finances in order.
When she was declared bankrupt, she promised to pay back £12,000 a month to the company’s creditors through an individual voluntary arrangement.
The bankruptcy meant that Katie, once worth a reported £45 million, would lose her 11-bedroom mansion worth £2 million.
She took out a second mortgage on the property in 2015 but faced monthly payments of £12,300.
2022 – The former model would have to attend the Royal Court of Justice to explain to a judge why she has failed to repay millions of debts owed to creditors.
However, the hearing was postponed at the last minute as her lawyers did not provide a reason for Katie’s absence from court.
March 2024 – She was declared bankrupt again due to an unpaid tax bill of £761,994.05. The request for payment was made by HMRC in October 2023.
A court was told the bill ‘arises from self-assessments’ for the years 2020-21 and 2021-22 and includes income VAT, tax, surcharges and interest.
Judge Sebastian Prentis of the Insolvency and Companies Court said at the hearing at the Rolls Building in London: ‘There has been no response from the debtor. The papers are in order.
‘There is a significant debt owed by Ms Price to HMRC and I will therefore be declaring bankruptcy.’
May 2024 – Katie is evicted from her home after being served a notice of termination and given weeks to leave. She is told that the bailiffs will arrive at 10am on May 29 to ensure that she and any other residents have left the property.