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eric pebble

Britain's Richest Man Lakshmi Mittal Rents Out The £10,000-a-week Palace

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I wouldn't mind renting the downstairs loo for £50/hour.

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LOVELY INNIT!!!! :lol::lol::lol:

He bought for something like 7M anf just because ha cant sell it for its 2007 peak of 40M he's thrown a strop and is trying to rent it for 10k a week!

!

Good luck with that M8!!!!!!!

TW@

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This guy is smarter than the average Bear.

maybe the smart thing to do would be to drop the price - then he'd be able to sell it

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10K a week on a 40 million pound place, that's a yield of what? 1.3%?

And if he can only get 8k a week, my rule of thumb of price = 1,000 x weekly rent in "desirable" London means that it is only "worth" 8 m. This seems to summarise the chasm between buyers and sellers that people keep talking about.

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And if he can only get 8k a week, my rule of thumb of price = 1,000 x weekly rent in "desirable" London means that it is only "worth" 8 m. This seems to summarise the chasm between buyers and sellers that people keep talking about.

Yes, sounds about right, if a bit pessamistic. He bought in 1996 for £6.75m. It should be worth £8m - £16m by now allowing for a bit of inflation. Remember that we have had the lowest inflation for decades under Labour (1997 - 2010).

I'm still figuring on prices dropping to around 40% of peak (that's 40% of peak meaning 60% off peak for the English illiterates).

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Since he's worth a few billion I'm sure he doesn't give a sh1t. �40 mill is probably akin to a few hundred quid to him.

You'd think that but if that was the case he wouldn't be renting his home now would he.

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You'd think that but if that was the case he wouldn't be renting his home now would he.

Obviously read some of the posts here and is protecting against a global hyperinflation holocaust by keeping hold of his assets

Edited by wealthy

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