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Hollys master

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Everything posted by Hollys master

  1. This appeared peculiar to me so I took a look. It is the same house but the buyer from August 2013 has knocked down the side garage and built a new attached house of apparent identical size to original. No loss but probably a huge profit. Take a look at the agents picture of no.26 and you can see it is a semi whereas now they are a terrace of three. http://www.zoopla.co.uk/property-history/26-beverley-close/chessington/kt9-2rl/19685306
  2. let me get this straight. this guy has made enough money in his mid twenties to build a nice house because people watch him play video games? the world is ******ed.
  3. There is a huge amount of foot traffic passing this shop when the weather is decent. I think it could easily be profitable so my conclusion is Portas addressed the issues of this failing business incorrectly.
  4. This tickled me. Looks a bargain at 99 grand. Here is the same house where I live for 500 grand http://www.zoopla.co.uk/property-history/47-elm-gardens/welwyn-garden-city/al8-6rx/16621196
  5. You have certainly given me massive cause for concern. I had no idea land slippage was affecting property that far from the edge. I had thought something 250m odd inland would be OK. I was also not aware the old village of Shanklin was so overrun with druggies. I spent a month there a couple of years ago and never noticed anything that would have worried me. Now if you had said Ryde had a problem I wouldn't have been suprised.
  6. Haha. Just thinking outside the box. Major commitment and investment for 12 months to leave me with a lovely apartment in a great location, parents all safe and sorted, another flat providing a small income. Just the sort of thing I thought a lot of like minded people on this forum might consider.
  7. Yep good points there. I agree £800k is a huge investment in an area not influenced by the London mega bubble. Those figures I quoted are quite arbitrary. I have since found a 2bed flat in an old victorian house very nearby so clearing £250k for the 2 flats after costs is likely rather than the £350k I had imagined. http://www.rightmove.co.uk/property-for-sale/property-41833532.html Lets suggest a figure of £250k for the hotel purchase price assuming stamp duty affects commercial property the way residential is hit. The budget of £50k for landscaping, fencing and new entrance is ridiculous. I could do most of that myself so maybe £10k tops. I have just completely refurbished a 3bed house top to bottom for £20k. I guess you would need to assume my wages at another £20k on that figure so lets say £30k a flat for cosmetic refurb and a further £100k budget for windows, roof, fire division, sound insulation, splitting water, gas, electrics etc for the building. Thats £250k instead of £350k My new figures again just arbitrary but hopefully someone can pull them apart who has experience of developing into flats; £250k purchase £40k purchase costs, architect plans, change of use etc. £10k landscaping, new entrance, fencing, security £250k conversion costs £50k contingency £600k gross -£250k sale of two flats after costs Total £350k outlay for owning three flats with rental income from one.
  8. Could you give us an update rockinrev on how things panned out?
  9. @crashmonitor - that is an impressive find. However I like the thought of living very close to the sea, the area I am very fond of and I think Isle of Wight has arguably best climate in the UK too. I have carried out half a dozen extensions/ refurbs on properties over the last 20 years and increasingly done more and more of the work myself. I guess I have one more project left in me and this particular one caught my eye.
  10. I have been searching through rightmove as usual in one of my favourite areas and stumbled across a property that has got me thinking outside the box. http://www.rightmove.co.uk/commercial-property-for-sale/property-41279237.html Its a detached 12 bedroom victorian hotel in a terrible state of disrepair at what appears to me to be a reasonable £300,000. The location is Shanklin on the Isle of Wight and the old village where this property is located is very attractive. The road is yards from a lovely park and close to the coastal path and onward to the sandy beach. I think the hotel was formally called Priory Manor Hotel. Now the property itself is rather large and grand for an average joe like myself but could it possibly be split into a maisonette through one entrance and perhaps 4 other apartments through the grand entrance. I am thinking the maisonette for myself, the ground floor flat for my elderly parents, a flat to rent/ summer let as an income and two flats to sell to help fund the conversion. Fag packet maths; £300k purchase £50k purchase costs, architect plans, change of use etc. £50k landscaping, new entrance, fencing, security £350k conversion costs £50k contingency -£350k sale of two flats Total £450k outlay for owning three flats with rental income from one. I am sure a developer could do this with ease but is this sort of thing possible for an average joe? There is obviously more to this property than meets the eye as google maps shows it has other buildings than the floorplan details. Also the required resiting of access to a different road indicates other development as well.
  11. Your taxable income is net of pension contributions so the actual threshold at which one would pay higher rate tax might be closer to £45k for many people
  12. I believe the penalty for failure to complete is loss of deposit although the 28 days I would assume starts from when you pay the deposit.
  13. Fire Authority budgets are being slashed. Fire Brigades are changing the way stations are crewed by halving the number of staff. This is done by natural wastage at present. This is an ongoing process which will last for many years. No recruitment occurs whilst this is happening. Many office based jobs are being cut as well. The Normal Pension age has changed to 60. In 10 years time the average age of the workforce will have dramatically risen because of no recruiting and no one leaving until they are 60. Where do you suggest all the 50+ staff work if not on a fire engine?
  14. A firefighter works 42 hours per week. For some the wage of £28,199 is not enoughh to support a family and they may choose to work extra. Anyone working 9 to 5 has the weekend and weeknights to go and do a 2nd job should they choose. I think both the police and firefighters schemes have been abused by some taking early retirement on ill health grounds in the past. I would suggest that this has not been the case since the new firefighters pension scheme was introduced in 2006.
  15. Heads of Agreement notice for Firefighters Pension Scheme My link
  16. There are some poorly informed comments on here; Firefighters pay up to 12% of their pay into a pension which is about double what most "your words - gold plated" public sector workers pay. It is to rise up to 16% over the next couple of years. Their terms are just about to be changed whereby they will have to work 10 years longer than the contract they signed and joined up too. The index linking spoken about earlier has been changed to CPI from RPI which in laymans terms means they will get about 1% less of a pension rise each year. Many fire authorities are changing their stations over to a Day crewing plus system whereby crews work, eat and sleep at station premise for 96 hours straight and then go home for 96 hours, similar to oil rig workers. Do you want a 60 year old firefighter who has already worked for 3 and a half days coming to your burning house at 3am in the morning? That is the reality of the changes. This week a Suffolk firefighter died whilst undertaking water rescue training. A Cambridgeshire Fire Officer died in a road traffic accident whilst on duty. The average pension of a firefighter is £14000pa so I am unclear how the liability of £350,000,000 was calculated
  17. I dont know the area but from streetview and overhard it is next to a playschool with flats overlooking the rear garden. The plot is quite small and awkward. The road looks busy. It wouldnt be my choice of location but whether it is value or not I couldnt comment.
  18. The biggest trick estate agents pull is creating a chain where they are selling all the houses, that way they get commission from everyone involved. They may have 2 offers on a house at similar prices, one is from a potential seller and one has a buyer through a different agent. They would obviously benefit most by advising their clients to accept the offer from the buyer with the house needing to be brought to market. Simples!
  19. Its a nice looking family home, in a nice road, in a decent part of Swindon. Internal pics look good, lovely big garden. Why would you think when valued at £245k with recent SSTC history an offer at £190k would even be considered? I would have thought it a desirable house and go for close to asking price.
  20. It was a very simple problem with the land registry office simply being inefficient which has now been sorted. The original purchaser is now proceding at agreed price so I have bowed out.
  21. I have worked with a young guy for 4 years. His father has owned a holiday villa in Paphos for the last 8 years and has run into some financial difficulty here and wants to sell his villa. I have been aware of this for the last 3 or 4 months. He had found a buyer at what I thought seemed a very low price and everything was going through. It has just collapsed because it has become clear there is a problem with the deeds to the land the villa is built on. He is getting desperate to sell, so desperate he is prepared to take a huge discount of the price I thought was cheap. This is very early stages and so I don't know all the facts but would consider purchasing it myself if I thought the problem of the title deeds could be sorted out. This is not a land issue regarding Turkish Northern Cyprus however I am aware that Cyprus has become known for having problems with developers retaining land titles and the registry office being incredibly slow. Is this just a formality which can be sorted out with competent legal assistance or is this just one of those things too good to be true? I will know a few more facts in a couple of days.
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