Monday, Jan 22, 2007
Chelsea's last affordable flat?
BBC News: 'Table-sized flat' for £170,000
A flat roughly the size of a snooker table has gone on sale for £170,000 in London's upmarket Chelsea.
The former janitor's storeroom measures 11ft by 7ft and has a cupboard place for a shower and kitchenette area.
Potential buyers can expect to fork out an extra £30,000 to make the room habitable as there is no lighting and it is full of rubble.
Posted by neverhappy @ 04:04 PM (204 views) Add Comment
16 Comments
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1. European Bear said...
Great news!!
The big crash is definitely coming... Back in the 80s some misguided bloke paid around £30K for a broom cupboard in London, just before the market slumped. Maybe it's the same gaff and he's decided to call the top of the market now!!?
2. headmelter said...
For those of you old enough to remember, were there not stories like this just prior to the last crash in the eighties?
I can remember stories like this and tales of paring spaces going for ridiculous sums as well.
Is history repeating itself I wonder?
3. Nohpc said...
Nope this is just normal for London now and has been for some years.
4. harold said...
Reminds me of the broom cupboard that sold for ca 35k in Chelsea at the height of the last boom - that's right, just before it all went t*ts up in 1989. The broom cupboard?!!
Yes, no kidding - to small to sleep in (good for bats), but what a location, location, loc...
5. sirgoogle said...
Harold. Yes I very much remember the cupboard for sale in London in 1989. You are right - this was just before the last crash !
At that time there were still pundits citing double digit growth for the following year.
6. Lvmreader said...
Have you noticed the 70s style adverts also?
7. bidin'matime said...
The good old days - when you could get a broom cupboard in Chelsea for £35k....!
8. Disgustedofyork said...
Only 170k? Positively undervalued when you look at all the free publicity it's been given. I wonder if you could get a BTL mortage on that? I'm sure somebody would try and buy it on the assumption that it could be rented as compact London pad with a great postcode, with the possibility of the huge capital gains to be made on any London property.
Seriously though. Why then hell would any person buy that, other than the assumption it's cheap for the area. Even viewings would be tricky as the client and EA couldn't actually be in the property at the same time.
9. Mr Plumbase said...
Right thats it, the the gardening stuff will be removed from the old outside loo in the morning and I will give the EA a ring! Probably phone the BBC as well they seem to find this sort of thing amusing.
10. tyrellcorporation said...
I read in another paper that the 'property' went on the market on Wednesday and by Friday they had three offers on it!!!
11. george monsoon said...
It beggars belief that anyone could be so monumentally cretinous, and buy this box!
I assume whoever wants to buy it, has seen some potential financial gain, but only from other cretins.
I also remember the "Broom cupboard" from the 80's but wasn't gordon the gopher resident back then?
12. monty said...
This about as indicative of an impending crash as tealeaves.
Motley Fool mentioned one selling in Knightsbridge in 2004 for £125k and we all know what happened after that.
http://www.fool.co.uk/news/Comment/2004/c040803d.htm
Why would someone buy it? I read an interview with the tenant of the infamous 1980's broom cupboard who said it was in the right area, affordable and they simply loved it. Horses for courses.
13. tyrellcorporation said...
A bit embarrassing though when the person says they're living in Chelsea as some sort of naff chat-up line, get the bird/fella home, start making the-beast with-two-backs and find out their heads keep banging on the wall and their arses get burnt on the lightbulb!
14. Chillilizard said...
psycho!!!!
Where do I fit my bike?
15. Rubberneck said...
I dunno, I'd pay £170k for some of that. Not that I'm desperate mind.
16. Al said...
The eternal story of the broom cupboard which broke into the media in 1987.
Questions in the house follwed, comparing knightsbridge to Bradford!, front page news. The other side to the story is ..........
perhaps the negative feeling by some, towards profit deals made on property, is based on the personal disapointment that they did not take the risk or opportunity and do it themselves!