Mikhail Liebenstein Posted January 22, 2009 Share Posted January 22, 2009 http://financialadvice.co.uk/news/9/proper...e-mansions.html Thursday 22nd January 2009 It has been revealed that two empty mansions on Park Lane London, with a combined value of over £30 million, have been taken over by new-age squatters. There are serious concerns that squatters will be forced to look at vacant properties around the UK as the economic crisis continues to hit the UK public hard. It would appear that the group, which is growing by the day, obtained entry to the properties via an open cellar door and have well and truly made themselves at home. With literally hundreds of thousands of homes empty in the UK the potential for squatters to target such properties is on the increase. This is a serious problem for both property owners and banks with repossessed properties because once the squatters have access to the properties it can be very difficult and very costly to evict them. The properties in question on Park Lane are owned by the Duke of Westminster's Grosvenor Estate although the lease-holds for the two properties are held by separate companies which would be in charge of any eviction attempts. It will be interesting to see how the courts react, as and when such eviction notices are served, and what "squatters rights" are deemed to be appropriate. Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted January 22, 2009 Share Posted January 22, 2009 (edited) In other news, foreign investors will pile into London property because of the cheap pound. Edited January 22, 2009 by thecrashingisles Quote Link to comment Share on other sites More sharing options...
heather5 Posted January 23, 2009 Share Posted January 23, 2009 This is old news. This happened in the 70s, 80s and 90s. The majority were 80s - because the kids then that had come through uni were of the right age group - and did this as protest. It is a symptom of the econmy. I'm sure there's some stuff out there on u-tube about the guys who took over a mansion in highgate during the 80s - and turned it into a an eco site - and only in the last few years did the govt manage to get them out - in fact I think there's a film about these guys. Quote Link to comment Share on other sites More sharing options...
BXLONDONMAN Posted January 23, 2009 Share Posted January 23, 2009 In other news, foreign investors will pile into London property because of the cheap pound. bump !!! well said.... Quote Link to comment Share on other sites More sharing options...
Mikhail Liebenstein Posted January 23, 2009 Author Share Posted January 23, 2009 In other news, foreign investors will pile into London property because of the cheap pound. May be the squatters are foreign, does that count? Quote Link to comment Share on other sites More sharing options...
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