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deeplyblue

Real Hpc In Sunderland ...

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Found this yesterday:

Sunderland Victorian Villa

where PB gives the history as:

09 June 2009 12:47:39

* Price changed: from 'Guide Price £850,000' to '£550,000'

31 March 2009 21:58:41

* Price found: Guide Price £850,000

which makes, by my reckoning, a real 35% price drop in less than 3 months. The "brochure" show no pictures except two external shots and a plan from (at a guess) the Land Registry. Blurb says:

An imposing semi detached villa occupying an impressive enclosed mature site. Offering exceptional development opportunities subject to obtaining the necessary planning permissions. Comprising of an imposing 4 storey semi detached villa with detached coach house and grounds.

So, a repo? A wreck? But, in either case, what made anyone think that £850K was remotely sensible in March, and not even remotely achievable in June? A client who thought it "must be" worth £850K, and has been brought down to earth by offers from developers for half that?

Every price drop has a story! (Just wish I knew what it was)

db

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Found this yesterday:

So, a repo? A wreck? But, in either case, what made anyone think that £850K was remotely sensible in March, and not even remotely achievable in June? A client who thought it "must be" worth £850K, and has been brought down to earth by offers from developers for half that?

Every price drop has a story! (Just wish I knew what it was)

db

Selling as land value surely. But if its a listed building redevelopment may be difficult.

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Selling as land value surely. But if its a listed building redevelopment may be difficult.

And it's a semi - which would make demolishing it a tad difficult. Me, I think the "coach house" included in the package may be part of the attraction - you might make a separate dwelling out of that.

One possible explanation for the 35% price drop occurs to me. Perhaps they've just had a word with the planning authorities and discovered that selling off most of the grounds for separate dwellings is not going to be allowed.

I wonder if anyone with inside knowledge of Sunderland has any insight?

db

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