Property Investment Opportunity

#2
Pork_Pie said:
Cheap Chelsea Flat

More proof the housing market has gone mad.
Estate Agent said:
Entrance hall
Studio room
Shower room
A tiny studio flat in a premier location, which requires updating. Perfect as a weekday base or staff flat, it benefits from a share in the freehold.

Cadogan Place is a much sought after location with its distinctive, mainly stucco fronted terraces, overlooking beautiful gardens. It occupies an enviable location and is also close to a superb range of shops.

Share of Freehold

http://img413.imageshack.us/my.php?image=23907b7ij.jpg

These days GBP1,000 per sq ft is fairly typical at the top end I believe.
 
#3
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.
 
#4
PassingBells said:
These days GBP1,000 per sq ft is fairly typical at the top end I believe.
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.
 
#6
PassingBells said:
I heard you the first time Porky. :meditate: :D

Approx Gross Internal Area
147 Ft2 - 13.66 M2
That makes it 147 x £1,000 = £147,000.

add 15% negotiating range £169k - call it £170k.

PB
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.
 

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