The price of Sir Henry Tate’s London home is slashed to £1.7 million

The asking price of a grand stable house that once housed Sir Henry Tate and his art collection has been slashed by six figures.

The terraced house in south west London Streatham is part of a former manor house owned by the sugar merchant for 25 years in the late 19th century.

The property was on the market for £1.8 million almost two years ago and is now back on the market with a new asking price of £100,000 less at £1.7 million.

There is a double height reception room which was Sir Henry’s billiard room where he displayed several famous works of art

The house has a double-height reception room that was Sir Henry’s billiard room, where he displayed famous Pre-Raphaelite artwork, including Ophelia by John Everett Millais.

The five-bedroom home, which is on the market with Space Station realtors, also has shared access to six acres of beautiful community gardens. These include an orchard, a folly and a monumental cave.

The house was built in the 1830s and Sir Henry bought it in 1874 and lived there until his death in 1899, aged 80.

The Streatham property was built in the 1830s and Sir Henry bought it in 1874 and lived there until his death in 1899, aged 80.

Pictured: Sir Henry Tate was an industrialist who made his living as a sugar refiner, with his sugar company Henry Tate & Sons merging with Abram Lyle & Sons to become Tate & Lyle

The large terrace house extends over 3,455 square feet and has the impressive original billiard room at its center

The property for sale has shared access to six acres of beautiful communal gardens, including these pristine lawns

Sir Henry was an industrialist who made his living as a sugar refiner. In 1889 he offered his collection of British nineteenth-century art to the nation on the condition that they be displayed in a suitable gallery.

He tried to bequeath 65 paintings to the National Gallery, but the curators rejected this because of a lack of space.

A campaign was launched to create a new gallery dedicated to British art and the gallery – now known as Tate Britain – was built and opened in 1897 with a donation of £80,000 from Tate. The following year he was made a baronet.

After his death, in the 1920s, his sugar company Henry Tate & Sons merged with Abram Lyle & Sons to form Tate & Lyle.

The grand property is being sold by real estate agent Space Station, with the living room overlooking the communal gardens

The living room is lit by an original glass clerestory or skylight, which runs the length of the room

Portraits hang on the walls to harken back to the mansion’s rich history, and a spiral staircase leads to a mezzanine level overlooking the living room

The large terrace house extends over 3,455 square feet, with the original billiard room in the center.

The space is lit by an original glass clerestory or skylight, which runs the length of the room.

In the kitchen there is a cooking island and a separate utility room, while upstairs there are five bedrooms.

In addition to a large fireplace and chandelier, the living room has a dining area with a table that can comfortably seat ten people

Streatham rail station is less than a mile away with links to London Blackfriars taking just twenty minutes

Henry Tate Mews is a beautiful privately owned estate situated at the top of Streatham Common North in South West London

A quiet place: The house has a separate large study with space for a large desk and plenty of books in the cupboards

The property has five bedrooms including this double aspect double bedroom with bright pops of color in the curtains and fittings

Henry Tate Mews is a beautiful private estate situated at the top of Streatham Common North, opposite the open spaces of Streatham Common and the woodland paths of The Rookery.

Streatham Rail Station is less than a mile away, with links to London Blackfriars taking 20 minutes.

There are several schools within a mile of the property including St Andrews, Julians and Immanuel & St Andrews. Dunraven High School is also just a mile away.

The average price of a property sold in Streatham in the last 12 months is £589,107. It compares to £352,512 for the country as a whole, according to property website Zoopla.