Lady Thatcher's London home to go on sale for £12million after restoration of Georgian features removed by previous owner

• Belgravia property will be stripped of modern features added by new owners
• Five-bedroom house will feature a 'security room' and a 'snug'
• Former prime minister, who died aged 87 last April, lived there since 1991

By DAILY MAIL REPORTER

Published: 21:25 EST, 17 January 2014 | Updated: 10:35 EST, 18 January 2014

For sale: The five-bedroom property on Chester Square in Belgravia will have its Georgian features restored

Former prime minister Margaret Thatcher's London home is going on the market for an estimated £12million.

The five-bedroom property, in the exclusive Chester Square in Belgravia, is being restored to reinstate its Georgian features.

Recent pictures show it needing some attention, with faded wallpaper revealing where pictures once hung.

The renovation aims to get rid of new features that are 'not fitting' with the home's character.

Baroness Thatcher, who died aged 87 last April, had lived in the property since 1991.

Sir Denis, Lady Thatcher's husband, took out a 10-year lease on the house for £700,000 in 1991. The lease was renewed a decade later, the Guardian reported.

The library will become a 'snug' and a 'security' room will be turned into a bedroom.

The bedrooms and ensuite bathrooms will also be rearranged, documents reveal.

A planning application obtained by The Independent states: 'Throughout the property, there is evidence of original features being replaced with cornices, skirtings and other detailing, which are not fitting with the Georgian criterion.

'It is proposed to reinstate these features.'

The paper reported that house was 'sold last summer' for an undisclosed price. It is now believed to sell for £12million as a singular family home.

It is not known whether the property formed part of Baroness Thatcher's will.

According to the Land Registry the property was bought for £2.4million in 2006 by Bakeland Property Company Ltd, based in the British Virgin Islands.

However, the former prime minister continued to live there until a few months before her death.

The former prime minister, who died last April aged 87, had lived in the property since 1991

It is thought her children, Carol and Mark Thatcher, could have a share in the property, where they stood to announce their mother's death.

Sources close to the family revealed the sub-lease to 73 Chester Square expired in 2010, and Mark would have liked her to move out so that the property could be sold.

But this was regarded by everyone else as out of the question, given her age and health. So she stayed, but the argument aroused tensions.