An onsite hairdresser, coffee shop and concert venue will be built at a care home on the exclusive “Billionaire’s Row” as part of a major project to update the residences.

The Jewish care home Hammerson House, in The Bishops Avenue in Barnet, sits next to some of the most expensive houses in the country, with prices that have soared up to £100million.

The plans for renovation were unveiled last month and include bigger bedrooms, state-of-the art technology, a living room and activity area on each floor and new therapy and relaxation rooms.

The five-year project will increase the capacity of the care home by 20 per cent.

The charity will launch a major fundraising appeal later this year to support the redevelopment, with refurbishment work beginning in May 2013 and rebuilding work starting in 2016.