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thunderbird900

Buy A Flat

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Walking to Highbury tonight on the way to the match I saw large hoardings outside the new ground. Galliard homes are advertising new flats for sale before they are even built. 1 bed from £225,000 and upwards.

Then underneath is written a guarantee of 6.29% net return up to 2010 and beyond.

Plus a guaranteed Arsenal season ticket. You might be guaranteed the ticket, but you still have to pay for it.

Now I am a simple soul so my question is this. How on earth can a builder/developer guarantee this type of return for the next five years? What happens if half the flats don't sell or they are not rented out? What happens if there is a major recession?

What really pees me off is that the flats are advertised soley as investments, not somewhere affordable for people to buy and actually live in. Mind you a one bed flat at that price and you would need to be really stupid to be tempted anyway.

Your thoughts please.

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their shit and overpriced, one bed for 1/4 million - the world - no the uk has gone mad. And the reason they give u a st is because they wont fill the new stadium.

Edited by George

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What really pees me off is that the flats are advertised soley as investments, not somewhere affordable for people to buy and actually live in. Mind you a one bed flat at that price and you would need to be really stupid to be tempted anyway.

Your thoughts please.

Haven't the developers set aside some "affordable housing" within the development? Or did they withdraw that idea when they realised they could get more cash from selling "looxury" flats to half-wits (within a football stadium complex/supermarket/chicken-in-a-basket)?

Further up the road in Hornsey they're advertsing rent-free living while you wait for your "luxury" flat to be built (next to a busy high-speed rail line). They must be desperate hee hee.

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George, I entirely agree with you. The only real selling point of the flats is that they are only 12 minutes away from Kings Cross by tube. That's it. The hoardings talk of Ashburton Grove as a regeneration zone. I think they have their work cut out.

The season ticket offer is a nonsense. If anyone can afford, or is mad enough to buy a one bed flat for just under a quarter of a million pounds they would easily be able to get a season ticket through the normal channels.

Arsenal keep telling everyone how big a waiting list there is for these tickets. It's one thing to put your name down on a list. Wait till the club contacts them and asks to see the colour of their money. Over a thousand quid a year. They will disappear into the night.

Arsenal are now effectively owned by the banks. With a current debt of £300 plus million pounds, just servicing the debt will cost a fortune, let alone paying the money back.

I think the football world has gone completely mad.

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What really pees me off is that the flats are advertised soley as investments, not somewhere affordable for people to buy and actually live in. Mind you a one bed flat at that price and you would need to be really stupid to be tempted anyway.

Your thoughts please.

you should contact your local MP and council officer and have them explain why planning permission was given for overpriced investment property not affordable by local residents.

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  • 301 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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