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I've been watching this one for a few months now - it was up for auction last summer at 250k with no success, it's back this month and was listed at first as 'highest bid', then '250k+' and is currently down to '225,500+' all within 2 weeks.

From the photos it looks very nice - except they may have just pushed the beachside idea a bit far.

Any ideas/opinions why it's been abandoned at such a late stage, surely it was close enough to completion to have not just run out of money?.

I suspect the '200 year flood risk standards' aka some rocks in front of it may not have been enough and a few years of rough seas could wash it away.

In that case its true value is probably about zero?.

http://www.wilsonsauctions.com/property_details_scotland_new.asp?id=592482

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That's a lot of house for the money, and the views look wonderful. I guess if the planned £250 million tidal barrier planned for the area around Cardross goes ahead, you could have a bargain on your hands. If not, best have a boat at the ready.

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Reminds me a bit of Father Ted's house:

property16644.jpg

They're selling it because they've realised that they're never going to get the return they'd planned (800K) in the current market and would like someone to take all that unrewarding work off their hands. I wonder how much they bought it for?

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The location marked on the map is incorrect, it's on the south side of the railway and really is just a few feet from the sea.

It won't be my feet getting wet though as it's way over what I can afford cash, but I can watch and maybe it'll keep dropping in price.

Edited by Kilham

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The location marked on the map is incorrect, it's on the south side of the railway and really is just a few feet from the sea.

It won't be my feet getting wet though as it's way over what I can afford cash, but I can watch and maybe it'll keep dropping in price.

couldnt they put some wheels underneath and move it to mayfair, the transport cost would be high particularly with petrol prices but it would go for at least 5 mil

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couldnt they put some wheels underneath and move it to mayfair, the transport cost would be high particularly with petrol prices but it would go for at least 5 mil

Heh - a good piece of lateral thinking can solve a lot of problems!

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Would I be right in guessing it is timber framed? There are lots of houses on the Isle of Wight near to the sea but this one looks very very close if you ask me.

Most likely - hence the sprinkler system (it would be gone by the time the fire service arrived otherwise due to remoteness) and the spec of the render to keep the skin watertight. From the foreshore doesn't look like coastal be a problem (it is in the firth), just sea level. Have a good look around to see where all the other housing is siutated, ususally a good guide if it has been placed speculatively too close (low down) to the water's edge.

Edited by OnlyMe

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Judging by the satellite image there's a railway line between the house and the sea so flood risk seems unlikely.

Why?

Along the devon coast the railway is right next to the sea. It doesn't exclude problems... just means it might get repaired ... or the railway moved or abandoned.

It's on rightmove

http://www.rightmove.co.uk/property-for-sale/property-28925395.html

Edited by SarahBell

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I really think it`s unmortgagable and almost unsaleable, unless it goes for a song.

property16645.jpg

I agree ..there are several things that make me go OHHH Nasty ..

The first is the £20,000 worth of VAT to be reclaimed .. This suggests to me (and I may be wrong) that this is a "self Build" and that the "grand Designs" type owner has "project managed" the build themselves .. it's unfinished which assumes they ran out of money .. I'd be looking VERY VERY hard at the quality of the work that has been carried out. There is no point in paying for work that will have to be done again in the very near future ..

The second is that it's ugly as sin.

The third is "Have all the contractors been paid" or will we be woken at 3am by a money demading plasterer trying to collect what he's owed by the previous owners? What if the gus who put the roof on didn't get paid and then come and take it off again .. Is the scaffolding paid for ? Is there rented equipment on site?

The fourth is THERE IS NO MAINS ELECTRICITY there is a genny on site and there is planning permission for a wind turbine. The cost of getting mains on site could be as much as the asking price .. The Genny needs diesel .. and lots of it and even red diesel is 70p a litre now .. If the Genny setup is not kosher then it will cost 10-20k to make it so .. So no mains gas either. It's a barn of a place and you would have to heat it with oil or LPG .. both very expensive right now ..

Then there is the flood risk ....

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I really think it`s unmortgagable and almost unsaleable, unless it goes for a song.

Just look at the high tide mark in this photo !

This appears to be it under construction on Google, it looks to be about the width of the house away from high water:

wet.jpg

post-19739-0-77549000-1295798831_thumb.jpg

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I really think it`s unmortgagable and almost unsaleable, unless it goes for a song.

Just look at the high tide mark in this photo !

property16645.jpg

Thats the usual high level mark on calm days. During rough times I think that house would be engulfed by wash.

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No electricty supply so it's dependant on a generator. With six bedrooms and four baths, that's going to be a man sized generator with eye watering instalation and running costs. Imagine designing a system that can cope with all loads from a single lightbulb to a possible twelve person usage at full load.

It mentions the installation of a sprinkler system, but no mention of a water supply, I doubt if there is a water main within a cooee of that place, so I suspect it may have to depend on rain water and tanks for supply.

Tha ad also states that the purchaser could claim back GBP 20,000 once the work is completed I belive that your VAT is at 17.5 %, whick indicates that the present owner must have spent well over GBP 100,000.so far and that building hasent even reached the expensive stage yet. Second fix electrics and plumbing, fitting out internally and supply and fit all fittings and appliances for a six bed four bath house.

The remote location also gurantees that he will have to pay top Dollar for his tradies.

It's too big for a private residence, too small for a hotel...........what would you do with the finished project if you were dumb enough to take it on ???

Edited by Hino

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Judging by the satellite image there's a railway line between the house and the sea so flood risk seems unlikely.

looking at the tideline i think the railway has been washed away :lol: or the house has been plotted wrong on the map?

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Judging by the satellite image there's a railway line between the house and the sea so flood risk seems unlikely.

Yes, but that railway line gets closed usually for at least one day per year due to flooding.

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No electricty supply so it's dependant on a generator. With six bedrooms and four baths, that's going to be a man sized generator with eye watering instalation and running costs. Imagine designing a system that can cope with all loads from a single lightbulb to a possible twelve person usage at full load.

A sparks take would be that you go for a 20KW system and manage the load to always be below that. These days there are a number of systems you can use to manage load .. and it's simple if you can install the kit yourself but very expensive if other people are going to do it for you. Twin 5KW invertors and batteries can absorb the load untill the Genny comes online BUT .. To be honest .. I would be very dubious .. the reality is that you would have to connect it to the national grid .. It's just not a goer otherwise ..

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A sparks take would be that you go for a 20KW system and manage the load to always be below that. These days there are a number of systems you can use to manage load .. and it's simple if you can install the kit yourself but very expensive if other people are going to do it for you. Twin 5KW invertors and batteries can absorb the load untill the Genny comes online BUT .. To be honest .. I would be very dubious .. the reality is that you would have to connect it to the national grid .. It's just not a goer otherwise ..

It would depend on the kind of lifestyle you want. However the 'off-grid' approach doesn't seem to match a 6 bedroom monster like this.

The whole place just seems to have been a bad idea and is probably going to be a liability.

Looking at the map there seem to be some derelict buildings nearby, wonder why they were abandoned - maybe they got a bit wet:

Oops wrong attachment, this shows the flood risk:

verywet.jpg

post-19739-0-43616000-1295825036_thumb.jpg

Edited by Kilham

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It's not listed as sold, they only seem to have sold 10 (11 now) out of 58 on the list.

I did make a (silly) offer on it before auction, from the reply it would seem the owners are looking for 180k+ for it.

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  • 284 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% +
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      • Even
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      • up 5%



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