Jump to content
House Price Crash Forum
Sign in to follow this  
payback period

Flintoff - Distressed Seller Or Really A Flipper?

Recommended Posts

http://www.dailymail.co.uk/news/article-1327743/Ashes-hero-Andrew-Flintoff-slashes-1-5m-asking-price-WAG-mansion.html

the prestigious abode of former cricketer Andrew Flintoff has failed to attract a buyer.

The Ashes star originally put the six-bedroom mansion up for sale almost a year ago for the princely sum of £5m.

But the house has languished on the market for more than 10 months forcing Flintoff, 32, to bring down his asking price by a 10 per cent.

It is now on the market for £4.49m the hope of attracting a fresh wave of millionaire property hunters.

bought the property in October 2007 for £1,85m from Fulham manager Mark Hughes.

The story sounds like he's making a loss but he's actually attempting to make a 143% profit after only three years!

Share this post


Link to post
Share on other sites

Bit more to it than that matey.....

Despite paying a fortune for the property Flintoff immediately called in bulldozers and ordered them to raze the house to the ground.

Hughes' property development company had already secured planning permission to knock down the original house and replace it with a much bigger home.

But Flintoff wanted a pad around twice the size of the previous property with a vast leisure and games complex in the basement.

This is not the same house he bought 3 years ago.

Of course its value today is a matter of opinion and clearly untested which is why he is flying his kite to see who bites. ]

Thing that struck me was the mans lack of forward planning, why spend all that money time and effort in designing and building a home to your exact requirements and not live in it?

Share this post


Link to post
Share on other sites

the answer to that is easy. He's not that bright and someone else has made a fortune out of him in the building of it. The same as Mark Hughes' property company...... this would be that renowned developer Mark Hughes, or the big @rsed Welsh hardnut forward who has more money than sense.

They are all at it. Try googling Garry Flitcroft and Huf Hauses. You'll laugh your socks off at what he's trying to do (his dad was a builder and he owns an estate agency and a lot of fixer upper houses and BTLs). He's now trying to build an enclave of Huf Hauses for millionaires just outside Bolton. Except he scandalously got a superb stone building knocked down to get the space and the Huf Hauses will be right next to the railway line. And, Huf Hauses are basically glass walled...... and he wants to build them out in the open space so you can see in clearly from a quarter of a mile away. Laughable. And the bandied prices are even funnier.

linky http://www.theboltonnews.co.uk/news/8406101.Soccer_star_Garry_and_the_footballers__luxury_homes/

Or try Paul Dickov. Just the same.

Edited by Rachman

Share this post


Link to post
Share on other sites

Its this one I think..

Flintoffs Gaff.

The front elevation looks right as does the swimming pool in so much as they match the DM photo's. There are what looks like two separate large bathrooms (one of which is similar to the DM picture) in the RM listing although I suppose that's possible from such a large house although an almighty **** up could be equally to blame.

Obvious where the DM got its pictures from anyway.

For those interested the Streetview Shot shows it under construction.....

Here

Share this post


Link to post
Share on other sites
Can I ask, have you actually read the article ? Because you seem to be ignoring a couple of million quids' worth/cost of work.....

It's never the house that's worth the money, its the LAND IT STANDS ON.

Share this post


Link to post
Share on other sites

Its this one I think..

Flintoffs Gaff.

The front elevation looks right as does the swimming pool in so much as they match the DM photo's. There are what looks like two separate large bathrooms (one of which is similar to the DM picture) in the RM listing although I suppose that's possible from such a large house although an almighty **** up could be equally to blame.

Obvious where the DM got its pictures from anyway.

For those interested the Streetview Shot shows it under construction.....

Here

That's the one yep. I posted it up on the other thread y'day.

(anecdotal) Had a long chat with a chap who knows all these footballer pad builders last week whilst out walking the dog, and he told me it would be very difficult to spend more than £1m all in on materials and labour for these sorts of places. The one's I know of that have sold are selling for well under asking, and I could post up at least 20 or so that are finished and empty and competing for a footballer. This £3-4m asking price market is flooded. There's one nearer to me where the plot was bought for c. £3m, former victorian house demolished and put on originally for £15m. Absolutely bonkers, but I know it's had an offer for £10m from someone well known in football recently which was rejected and it's been knocked down to £12,950,000 :lol:

Very few of these houses have any comparables and nearly all of them end up selling for way below listed to footballers at some point. Unless they don't. The one's that don't are either sitting part-completed else being sold on for completion to other developers or in some cases repo'd by the banks and sold on *quietly*.

http://www.rightmove.co.uk/property-for-sale/new-homes/property-26161231.html

Share this post


Link to post
Share on other sites

There's one nearer to me where the plot was bought for c. £3m, former victorian house demolished and put on originally for £15m. Absolutely bonkers, but I know it's had an offer for £10m from someone well known in football recently which was rejected and it's been knocked down to £12,950,000 :lol:

Very few of these houses have any comparables and nearly all of them end up selling for way below listed to footballers at some point. Unless they don't. The one's that don't are either sitting part-completed else being sold on for completion to other developers or in some cases repo'd by the banks and sold on *quietly*.

http://www.rightmove.co.uk/property-for-sale/new-homes/property-26161231.html

Ugh, nasty.

I remarked upon that one when you first posted it: I had a hard time believing it was even real - the exterior looks like some computer generated mess. Gross.

Edited by darwin

Share this post


Link to post
Share on other sites

Ugh, nasty.

I remarked upon that one when you first posted it: I had a hard time believing it was even real - the exterior looks like some computer generated mess. Gross.

It does. I can assure you it looks just like that 'in the flesh'. The only buyer really is someone who has to be located in the North West for whom the price isn't particularly material. If anyone else wanted a French Chateau they'd buy a real one in the Loire or Dordogne or somewhere with a few hundred acres to boot rather than a mock one in Manchester. I find it quite bizarre but I suspect it's a sort of 'bragging rights' thing for whoever ends up with it.

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 145 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%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.