Yes, you did read that right, the mews house in the photo above which needs a lot of work done to it is on sale for a jaw-dropping £2.5 million.

Those used to London's outrageous property market might not bat an eyelid at the price tag for a home down a west London street popular with the rich and famous.

But the crumbling, damp-stained, ageing house on Pindock Mews, near Little Venice, is probably not what you'd expect for such a valuation.

Marketed by mews specialist Lubot Brand, the property is described as a "beautifully derelict" place with potential to be a "dream home".

Any new owner would be following in the footsteps of some famous faces - the late Sid Vicious of the Sex Pistols once lived down the street.

'Beautifully derelict'

Inside the rundown mews property that is dire need of renovation

Mews houses were built in the 18th and 19th century, originally intended to stable horses, with accommodation above for servants .

In this case the dilapidated home on Pindock Mews, which is under offer, is "crying out for a new lease of life", according to the estate agents.

"The history of this house is laid out bare in every nook and cranny and can be read like the pages of a book," continues the Lurot Brand description.

"Now in need of full renovation and well positioned within a charming mews, this freehold house could be converted into a dream home."

Pindock Mews has been home to a few famous famous over the years including Boy George

Subject to planning consents, the property agents suggest the building could be converted into a three or four floor house boasting around 2,700 sq ft of floor space.

Celeb street

Pindock Mews, which connects up to Warwick Avenue and Castellain Road, is short walk from Warwick Avenue tube station and the Little Venice canal basin.

The Pindock Mews property currently has only one bedroom but estate agents believe a renovation could expanded the size of the home

The exclusive street, a mix of residential properties and small creative businesses, has featured a number of celebrity residents over the years.

Lubot Brand's marketing claims 1980s musicians Boy George, Marilyn and Tony James of Sigue, Sigue Sputnik have lived on Pindock Mews, as well as journalist Janet Street Porter and infamous punk legend Sid Vicious and his girlfriend Nancy Spungen.

Like Chitty, Chitty, Bang, Bang

Speaking to the Mirror about the property a year ago, James Robinson, general manager at Lurot Brand, said "This Little Venice mews house takes the description of 'being unmodernised' to a whole new level."

The Pindock Mews property near Little Venice is on the market for £2.5 million

Mr Robinson added: "It is the first house I have seen with gutters, both inside and out, to carry the rainwater away.

"The roof really is that bad. So bad in fact, that just like in the film 'Chitty, Chitty Bang, Bang', you'll be taking an umbrella to bed.

"This is the kind of house children run past when walking to school and could quite possibly be the most derelict inhabited house in Prime Central London but ironically it is for exactly these reasons it is also one of the most desirable."

Mews millions

An estate agent described the property as like something out of Chitty, Chitty, Bang, Bang

Lurot Brand was founded by rally car driver Antoine Lurot who noticed the money-making potential in London's mews properties.

Built in the 18th and 19tn centuries, mews buildings were originally used to stable horses, with accommodation above for servants.

A typical mews is a narrow street, often tucked away behind large mansion blocks, lined with low rise, small buidlings.

According to Lurot Brand's database there are more than 300 mews streets across London.

In the 20th century mews had a gritty reputation, housing taxi firms, garages and print shops - before racing drivers started to use to be able to live alongside their cars.

Mr Lurot launched the first estate agency to specialise in mews properties. Today it helps market properties that sell for in excess of £5 million.

For more information and to book a viewing click here.