Discussion in 'Finance, Property, Law' started by Pork_Pie, Jan 22, 2007.
The heart of the site is the forum area, including:
Cheap Chelsea Flat
More proof the housing market has gone mad.
These days GBP1,000 per sq ft is fairly typical at the top end I believe.
Can you not just buy two and knock it through to make it a bit bigger!
WTF is wrong with this country.
That scab estate agent can not have valued that surely. They would do anything for a slice eh.
Sorry to be the maths pedant, but:
The 'flat' is 11feet X 7 feet, 77 sq ft.
77 times £1K = £77k.
The 'flat' is on sale for £170K, plus estate agent reckons it needs £30K of work. (Does that mean it really needs £40K?)
Still, if they can get someone to buy it, good luck to them.
I heard you the first time Porky.
That makes it 147 x £1,000 = £147,000.
add 15% negotiating range £169k - call it £170k.
The BBC gave a figure of 11 X 7, but it appears that this is only for the huge living area. Include the loo, cupboard space, etc, you get 147 sq ft, it seems.
However, £170K asking price, plus £30K (at least) renovation, still doesn't give £1K per sq ft.
Apparently the main 'room' is about the same size as a snooker table and slightly bigger than a prison cell.
So about the size of your avaerage barrack block room then! Another money making opportunity for the MoD?
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