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"bankers Force Sale" At Wharfside Point South, London

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Page 27 of the Property Guide

"Bankers Force Sale!"

at Wharfside Point South over looking Canary Wharf

New 1 bedroom apartments sold up to £377,900 now priced for immediate sale (apartments from) £164,995

New 2 bedroom apartments sold up to £474,600 ........................................................................£ £230,000

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Page 27 of the Property Guide

"Bankers Force Sale!"

at Wharfside Point South over looking Canary Wharf

New 1 bedroom apartments sold up to £377,900 now priced for immediate sale (apartments from) £164,995

New 2 bedroom apartments sold up to £474,600 ........................................................................£ £230,000

Yep got that through the post today (dont know how they got my name) - looks like there trying to get out whilst they can. Historically not a bad price for london - but this is telling me that things look to be getting worse.......

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Looks like there is also a "Wharfside Point North" and these apartments were offered on a Buy/Rent basis.

Scarey stuff in the small print down the bottom.

"Priced examples had factually exchanged contracts". Poor sods....

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Strange how the BBC managed to omit this from its property ramping piece earlier

I drove past this place the other night. Big banners hanging from it including half price rents.

Edited by rover2000

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Comeon Hamish, Rinoa and Sibbers, talk this one up...

Better pile in there while you can, don't miss the boat, you'd be a fool not to blah blah blah

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Looks like there is also a "Wharfside Point North" and these apartments were offered on a Buy/Rent basis.

Scarey stuff in the small print down the bottom.

"Priced examples had factually exchanged contracts". Poor sods....

Sounds like a failure to complete. (Very, very rare).

I wonder what the back story is?

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Has anyone actually seen the building in question? I drove past there recently and was shocked when I realised (a) it was actually a residential building and (B) it's not social housing. It looks like it was designed to resemble a Russian prison. And not really in the best part of town either - Poplar high street is the wrong side of just about every track in the area.

Anyone who actually bought here at list price is demented.

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Page 27 of the Property Guide

"Bankers Force Sale!"

at Wharfside Point South over looking Canary Wharf

New 1 bedroom apartments sold up to £377,900 now priced for immediate sale (apartments from) £164,995

New 2 bedroom apartments sold up to £474,600 ........................................................................£ £230,000

Hopefully a load of property investers and BTLers have been among the financial casualties here :)

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Page 27 of the Property Guide

"Bankers Force Sale!"

at Wharfside Point South over looking Canary Wharf

New 1 bedroom apartments sold up to £377,900 now priced for immediate sale (apartments from) £164,995

New 2 bedroom apartments sold up to £474,600 ........................................................................£ £230,000

Even at the discounted prices, you are still looking at £365+ psf (presumably for the flat with the worse view and noise pollution). No bargain here...

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Also, the ground rent is described as being between £250 and £350. Is that per MONTH????? It does not say. If it is, I suspect they have cut the price and hiked the ground rent.....

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What you can't see from the picture is between the "wharf side" and the building is the DLR lines, an A-road (the A2?), a MacDonalds and a big roundabout. Niice!

I used to work near there in East India. Dump

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Even at the discounted prices, you are still looking at £365+ psf (presumably for the flat with the worse view and noise pollution). No bargain here...

How does this compare to the other developments?

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Anyone who actually bought here at list price is demented.

Well, if they weren't demented before they certainly will be by now.

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Its the second or third week that Galliard have been running these ads. Nothing to add to the posters above - still priced at least 25% over what they are worth

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Also, the ground rent is described as being between £250 and £350. Is that per MONTH????? It does not say. If it is, I suspect they have cut the price and hiked the ground rent.....

I would expect the ground rent to be an annual charge. So, for a 1-bedroomed flat, you pay:

(GROUND RENT = £250) + (EST SERVICE CHARGE Approx £2 psf x 465sq = £930)

= £1180

+ Council Tax

+ Mortgage

For a 2-bedroomed flat, you pay:

(GROUND RENT = £350) + (EST SERVICE CHARGE Approx £2 psf x 693sq = £1386)

= £1736

+ Council Tax

+ Mortgage

What could possibly go wrong? :unsure:

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