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Warwick-Watcher

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About Warwick-Watcher

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  1. I think he essentially tried some form of property arbitrage. He's borrowed money from loads of councils and spunked it up the wall invested it in commercial property across the UK using the expected rental income to pay back the borrowing. So not just Spelthorne in trouble but all the councils who have lent money?
  2. I"t's hard to grasp as it's happening across the UK and somewhat gradually. As more and more people are impacted and their family/friends get to know about it there will be little else talked about. How this cannot impact house prices is beyond me. This is shaping up to be worse than the 1980s recession.
  3. Or for £25k less in trendy Manchester you could have a much better apartment (and the price difference will pay 10 years service charges). https://www.rightmove.co.uk/property-for-sale/property-85041023.html Or live by the coast just 90 minutes by train from central London (link from the big and multiple drops thread). https://www.rightmove.co.uk/property-for-sale/property-71375910.html
  4. Perhaps more interesting that 23 years ago it went for only £112k. Has inflation in everything else been 200% over the past quarter century?
  5. Aberdeen is slowly on it's way to join many other British cities where their original purpose for existing has gone. Liverpool - docks and shipbuilding, Welsh valleys - coal and steel making, Glasgow - service the empire and manufacturing (to support shipbuilding amongst other things). None of these places developed for fun - they all served industry. Now we're left without the industry but still have the assets and the people.
  6. The cheapest property for sale in Westminster on Rightmove is a £300k studio apartment (ignoring the short lease places, garages and houseboats). https://www.rightmove.co.uk/property-for-sale/property-71472378.html Using my proposal that's £1,500 a year. Not too much to live in prime central London surely? Most expensive is £41.5m - 11,000 square feet, 6 beds etc. Whoever buys this could surely afford £207,500 a year in council tax? Rather than the actual maximum which is £1,560 ! https://www.rightmove.co.uk/property-for-sale/property-94228469.html https://www.westminster.gov.uk/council-tax-bands-and-rates
  7. Without being too rude, what insights from an eighteenth century romantic novel remain to be discovered in the 21st century? They'd be better studying remedial maths so they can function in the modern world. https://www.leaderscouncil.co.uk/news/government-pledges-30-000-new-traineeships-for-under-25s Training in English and Maths for post 16 year olds. When the heck were they doing in the previous 11 years of compulsory education? How to write a CV - I'm sure we did that in our fifth form year (year 11).
  8. So will some of them choose to move back to their original country, or are they mainly students?
  9. Maybe set council tax at around 0.5% of estimated resale value? Jobs for surveyors to do the annual/bi-annual valuation? House worth £600k - council tax would be £3k - a bit higher than today's bill in most places; which would help fund social care. Tough on the millionaire properties in London, but someone has to pay for the unwaged to continue to live in central London. Imagine a £10m property in Chelsea - council tax would be £50k - a year !
  10. The government will either allow unemployed immigrants to live there (the London apartments that is) and pay their housing benefit for them, or the Hong Kongers will flock in and buy them all up
  11. Me too - there were about 4 or 5 on the Strand alone. Sadly 1,000 jobs to go - how many EU citizens?
  12. Loss making group (£65m in 2019). Bought by KKR investors from the US in 2018. £8.50 (or thereabouts) for a croquet monsieur - obviously not a bargain!
  13. Yes, out of 11,000 UK staff. It's an FT article so can't post. Referenced in this BBC article though. https://www.bbc.co.uk/news/business-53247787
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