A RISE in house prices has prompted estate agents to put multi-million-pound values on some of Oxford’s most iconic buildings.

A group of experts has put a total asking price of £118m on three of the city centre’s most recognisible landmarks — based on the light-hearted premise that they could be turned into luxury houses or spectacular party venues.

Property website findaproperty.com asked estate agents from local firms including county-based Chancellors, Penny & Sinclair and Hamnett Hayward to price up the Town Hall, Radcliffe Camera and Oxford Castle.

Top of the pile was the Town Hall in St Aldate’s, which was given a virtual price tag of £50m, closely followed by Oxford Castle, in Castle Street, valued at £45m.

The much-photographed Radcliffe Camera, in Radcliffe Square, was valued at £23m.

Property expert Nigel Lewis, of FindaProperty.com, said: “We know these landmarks will never be put up for sale, but with property prices shooting up 10 per cent over the past year we thought it would be fun to see what the market consensus was about their values. It is quite a challenge for estate agents more used to valuing suburban semis to put an accurate price on town halls or castles, but there was a surprising amount of agreement between the different agents we spoke to.”

The most expensive residential property in the city currently on the website is a seven-bedroom detached house in Charlbury Road, North Oxford. Near the house where author Iris Murdoch once lived, the property is on the market for £3.5m.

Lizanne Simmons, of Summertown-based Penny & Sinclair, said: “Size, location and kerb appeal dictated the valuations, as did what they could be used for.

“The castle and the town hall could be quite good party or wedding venues.

“The Radcliffe Camera is by far the most beautiful of the three but it is limited in what it could be used for — although it would be great to say you owned it.”

Asked about the state of the property market in the county, she added: “We are certainly back to where we were in September 2008, which is when we were at our peak.

“For example, Jericho is at the highest values I’ve ever known in the area.

“A terrace house there was about £350,000 to £395,000 but now you’re looking at the average two-bedroom terrace at £420,000 and a couple of properties well in excess of £500,000, and they’re selling and moving.

“The city has risen quicker but the villages are following, but slowly.

“We are really busy and customer confidence is there and mortgages are being granted at last.”