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Rotundaaaaa! Prices falling in heart of Brum

#16 User is offline   yokel 

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Posted 12 June 2008 - 11:33 AM

View PostDagon, on Jun 12 2008, 09:42 AM, said:

I like the bit which says that 98% of buyers were buy-to-let 'investors'. Serves 'em right I say.


http://www.bbc.co.uk/birmingham/content/ar...e_feature.shtml

Seems like there were 232 apartments. If 98% were BTL that leaves 5 owner occupiers. I hope they get on with each other.

One lucky couple in the news link missed out and were put on the waiting list. I wonder if the list still exists.

Y

#17 User is offline   The 4 Horsemen 

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Posted 12 June 2008 - 12:31 PM

It’s unfortunate that this building is going to become like many other city centre flats/apartments because it is an iconic building and from what I can see Urban Splash have done a good job developing it. Still about 50% overpriced though!

I wonder how many of the original 2005 buyers have flipped already.
How can I go forward when I don't know which way I'm facing?
How can I go forward when I don't know which way to turn?
How can I go forward into something I'm not sure of?
Oh nooh no

#18 User is offline   Hard-up 

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Posted 12 June 2008 - 12:54 PM

View PostMr Yogi, on Jun 12 2008, 09:56 AM, said:

I don't know about 'Serves 'em right'. They haven't necceserally done anything wrong - unless they lied to get a mortgage...


The article did mention a "20 minute buying frenzy" in which all the flats were sold.

When you compare this to the high prices and the miniscule wedge-shaped dimensions, you can imply that the buyers were guilty of stupidity at least.

#19 User is offline   sossidge 

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Posted 12 June 2008 - 02:14 PM

i went up the rotunda last saturday afternoon as part of the residential lettings' group open day.

20th floor balcony was quite nice (incredibly vertiginous!) but it ate into the living space, so even the £2k pcm 2-bed 2-bath place (£450k?! was poky).

saw other appt types as well, and they're obviously tiny.

only residents i saw were a couple of twenty-somethings with cans of guinness in their arms at 13.00 on a saturday...

nice city views, but that novelty lasted around 10 mins.

#20 User is offline   VacantPossession 

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Posted 12 June 2008 - 02:36 PM

View Postreddii, on Jun 12 2008, 10:02 AM, said:

But there's a shortage of supply...........


:lol: :rolleyes:

#21 User is offline   Not Long Now 

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Posted 12 June 2008 - 03:12 PM

Check this thread out...

http://www.housepricecrash.co.uk/forum/ind...tunda&st=15

I have been keeping track on the Rotunda over the last month since the flats were released.

The rents people are asking for are falling through the floor. Starting to see the odd one for sale come onto the market, and then being reduced.

The building is the biggest white elephant ever.

As someone said.....shortage of housing my ****.

#22 User is offline   history repeats 

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Posted 12 June 2008 - 03:35 PM

I love brum don't care what any of you sniping, snooty, southern softies say, I took these shots the other night from my rented penthouse apartment with private terrace in brum,, see it aint to bad folks. If you catch birminghams skyline on a nice summers evening with a sunset, a warm breeze and a bottle or two of vino and you could almost say romantic.

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#23 User is offline   Leonard Hatred 

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Posted 12 June 2008 - 03:40 PM

****** me - just look at all the lights not on in the Rotunda :blink:

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Posted 12 June 2008 - 03:48 PM

Quote

The owners, who bought their iconic properties in a frenzied 20-minute spending spree, are now trying to sell up because they are already thousands of pounds out of pocket.

Never mind, "It's got the X factor; it's iconic; it's THE address in Birmingham. I feel rock 'n' roll when I see the Rotunda!"

Poor Tav, the only rock 'n roll he'll be feeling now is the unsteady bumpity bump of his finances.

View Postreddii, on Jun 12 2008, 10:02 AM, said:

But there's a shortage of supply...........

Have we reached "Peak Idiots" so soon? :o

View PostSir Talbot Avenger, on Jun 12 2008, 10:29 AM, said:

</beingallhighandmighty>

:lol:

View Postjuvenal, on Jun 12 2008, 11:11 AM, said:

Anyone remember the video news clip taken on 'selling day' where the Asian guy shouted that the Rotunda was 'the new rock and roll!'?

Why do fools fall in love.... with scams like this.

Quote

Richard Lishman was celebrating becoming the proud father of son Max, and becoming the proud owner of of a Rotunda apartment. Richard purchased an apartment with his wife and friends as an investment;

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Sad, very sad.

#25 User is offline   Nicholas Cage 

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Posted 12 June 2008 - 03:56 PM

View PostThe 4 Horsemen, on Jun 12 2008, 01:31 PM, said:

It's unfortunate that this building is going to become like many other city centre flats/apartments because it is an iconic building and from what I can see Urban Splash have done a good job developing it. Still about 50% overpriced though!

I wonder how many of the original 2005 buyers have flipped already.


The builders and developers have got their money. It would great if these all ended up social housing paid for by geared betting and Bank losses.

#26 User is offline   Daft Boy 

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Posted 12 June 2008 - 04:15 PM

View PostThe 4 Horsemen, on Jun 12 2008, 01:31 PM, said:

It's unfortunate that this building is going to become like many other city centre flats/apartments because it is an iconic building and from what I can see Urban Splash have done a good job developing it. Still about 50% overpriced though!

I wonder how many of the original 2005 buyers have flipped already.



I totally agree. I hope to buy a one bed at the rotunda or Mailbox for around £50k in the next year or so to use as a bolthole. Both handy for New street station.
In the dark depths of the lunatic asylum the daft boy is king............Shakespeare

"The Victorians used to find the idiots, lunatics and imbeciles via the census forms. Today we rely on the financial and housing markets to find them ".........Daft Boy 2007

"Forget financial charts. We are in uncharted waters. That means what it says on the box. It is foolhardy to try to navigate the South China Sea with a chart of the Solent. It's no good looking over the back of the vessel to get your heading. That is why so many people are ending up on the rocks. Make for a safe haven to protect yourself or you may suffer a big loss". Trust me. I am a licenced boatman...........Daft Boy 2007

#27 User is offline   ScaredEitherWay 

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Posted 12 June 2008 - 04:39 PM

Check it out for yourself. Here's what happened to four of them:

http://www.laterooms.com/en/hotel-reservat...birmingham.aspx

£250-400/night

Could have a Brummy HPC Meeting there!

Late Rooms shows you the bookings/availability. Mostly empty. Couple of bookings. Currently taking bookings about half price.

This post has been edited by ScaredEitherWay: 12 June 2008 - 04:44 PM

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#28 User is offline   juvenal 

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Posted 12 June 2008 - 05:08 PM

Those photos remind me of Bladerunner... An urban nightmare under an angry sky. Come down to the country where you can see the horizon...
'And while I live, no fool or noble knave
Shall walk this world, in credit, to his grave..'

'The pension system has been a very nice gravy train for all of those involved except for those paying into it.'

'Let's see if we can get it for the asking price..' Kirstie Allsop

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Sex, drugs and sausage rolls...

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#29 User is offline   MrPants 

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Posted 12 June 2008 - 05:19 PM

I'm with daft boy. I'm looking to buy a 2 bed flat new build in or around Brum for about 100K at the **** end of next year. So fall away please. Didn't realise some of these didn't come with parking though. That rules them out completely.
Am looking to rent for next 12 months. Something with parking for 500pcm would be grand. I may be too optimistic though

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Posted 12 June 2008 - 06:22 PM

View Postjuvenal, on Jun 12 2008, 06:08 PM, said:

Those photos remind me of Bladerunner... An urban nightmare under an angry sky.


Posted Image

"I've seen things you people wouldn't believe."

Roy Batty must have been looking at some of the asking prices for property in early 21st century Britain.
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