Jump to content
House Price Crash Forum
richc

Buy At £1.95 Million Or Rent For £2500 A Month?

Recommended Posts

Someone posted a link on here a couple of days ago to an article on Channel 4 Racing presenter Emma Spencer trying to sell her house in Newmarket for £1.95 million.

According to RightMove, you can also just rent it at £2500 a month.

That's a gross yield of 1.5% a year. BTW, the house hasn't appreciated in value by a single pound since 2007 if you deduct the £200k the sellers "invested" in new bathrooms and kitchen -- and that's based on the current asking price, not any achieved sale.

Share this post


Link to post
Share on other sites

Someone posted a link on here a couple of days ago to an article on Channel 4 Racing presenter Emma Spencer trying to sell her house in Newmarket for £1.95 million.

According to RightMove, you can also just rent it at £2500 a month.

That's a gross yield of 1.5% a year. BTW, the house hasn't appreciated in value by a single pound since 2007 if you deduct the £200k the sellers "invested" in new bathrooms and kitchen -- and that's based on the current asking price, not any achieved sale.

You would rent a £500K - £600K property in London for around that. The rental is very reasonable considering how much upkeep would be involved in a place that size.

Share this post


Link to post
Share on other sites

Pretty sure thats got to be a mistake - more likely 2.5k/wk

Looking at rents in the area, it seems about right. What is the true value of that property? Probably less than a million.

Share this post


Link to post
Share on other sites

Yep, £500/wk gets you a 2 bed flat in C LOndon. Outside it gets you a 5 bed detached - 28 mins to L'Pool St Stn.

Share this post


Link to post
Share on other sites

Pretty sure thats got to be a mistake - more likely 2.5k/wk

From reading the article, it looks like a lot of the stables are rented out already to a trainer so you'd just be renting the house. But if you bought it, you'd be paying for the whole thing. May be wrong.

Share this post


Link to post
Share on other sites

The pictures in the Daily Mail story were confusing. One of the reader comments in the story makes more sense that the journalist has got the pictures of houses mixed up.

The house up for rent is the their former family home, before the split or divorce.

They bought it 3 years ago for £1.75 million and now have it up for sale at guide price £1.95 million.

It's titled as a commercial property http://www.rightmove.co.uk/property-for-sale/property-34010453.html?premiumA=true

She herself has just bought a new house for £2.95 million, which originally came on the market three years ago with a £7 million asking price.

Her new house can crash millions in price in three years, but the house she bought 3 years ago and not found a buyer for has gone up in value? She's just a CH4 racing presenter.

Share this post


Link to post
Share on other sites

The pictures in the Daily Mail story were confusing. One of the reader comments in the story makes more sense that the journalist has got the pictures of houses mixed up.

The house up for rent is the their former family home, before the split or divorce.

They bought it 3 years ago for £1.75 million and now have it up for sale at guide price £1.95 million.

It's titled as a commercial property http://www.rightmove.co.uk/property-for-sale/property-34010453.html?premiumA=true

She herself has just bought a new house for £2.95 million, which originally came on the market three years ago with a £7 million asking price.

Her new house can crash millions in price in three years, but the house she bought 3 years ago and not found a buyer for has gone up in value? She's just a CH4 racing presenter.

She's got three kids and the house she's "fallen in love with" has seven bedrooms - it'll be like living in half-empty hotel.

Share this post


Link to post
Share on other sites

Bump... RK's thread with Newmarket interests being anti new houses. just reminded me of this.

It was confusing to me at the time, and now, because it seemed she upsized to a new place (paying nearly for nearly £2.95million according to DM story... where she recalls the owner had been trying to sell it for £7million some years before), before selling the other property.

27 June 2011

Now the former marital home, Grange House Stables, stands empty and on the market for £1.95million. Emma, 32, moved out last month, having managed to scoop a significant upgrade in her living standards without first having to wait and make a sale.

Above the RM link before it went off the market a few years ago.

Now back on market:

Guide Price £1,600,000
http://www.rightmove.co.uk/property-for-sale/property-45410785.html


Although this is the last sold price data I can find on public record.
03 Oct 2003: £600,000
http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=34413845&sale=41070191&country=england

_

Sangster family also looking to sell up, in Wiltshire; he bought it for £10m in 1984 according to DM, family asking £26m.

http://www.dailymail.co.uk/news/article-2623248/Sprawling-2-000-acre-property-racehorse-breeder-Vernon-Football-Pools-magnate-Robert-Sangster-comes-horse-training-centre-seven-gallops.html

http://www.rightmove.co.uk/property-for-sale/property-44119543.html?premiumA=true

Share this post


Link to post
Share on other sites

It may look country estate, but the property is not ever 25 years old.

High scale McMansion.

Don't think anybody is going to be fooled by the McMansion (the house they moved to), the windows are all out of scale for starters...nothing like a Queen Ann House. As usual modern architects making a pigs dinner of trying to replicate an historic style with some Barrett features.

Edited by crashmonitor

Share this post


Link to post
Share on other sites

The pictures in the Daily Mail story were confusing. One of the reader comments in the story makes more sense that the journalist has got the pictures of houses mixed up.

The house up for rent is the their former family home, before the split or divorce.

They bought it 3 years ago for £1.75 million and now have it up for sale at guide price £1.95 million.

It's titled as a commercial property http://www.rightmove.co.uk/property-for-sale/property-34010453.html?premiumA=true

She herself has just bought a new house for £2.95 million, which originally came on the market three years ago with a £7 million asking price.

Her new house can crash millions in price in three years, but the house she bought 3 years ago and not found a buyer for has gone up in value? She's just a CH4 racing presenter.

I think you might be underestimating how connected she is.

As reported she is the wife of ex-champion jockey Jamie Spencer.

Her parents:

Jack and Lynda Ramsden, whose libel action against The Sporting Life is expected to reach its conclusion this week, both returned to the witness box yesterday following allegations made on Friday morning that Jack Ramsden had ordered Kieren Fallon, the champion jockey, to "stop" a horse in a race at Newmarket in 1995.

http://www.independent.co.uk/sport/racing-ramsden-horrified-by-allegation-1146727.html

Her brother

Anthony Ramsden, the brother-in-law of former champion jockey Jamie Spencer and the son of the former trainer Lynda Ramsden, will be charged within the next few days with significant breaches of the rules that prohibit owners from laying bets on their horses. If found guilty, he can expect to be "warned off", and will be barred from ownership, race meetings and trainings yards worldwide.
The charges against Ramsden and another individual, as yet unidentified, are the result of a separate line of inquiry that emerged during the Horseracing Regulatory Authority's long-running investigation into the running and riding of Mickmacmagoole at Southwell in November 2005. That case concluded yesterday when Spencer was banned for 10 days for failing to obtain the best possible placing on the horse in a minor race at the Midlands track, just days after he had secured the Flat jockeys' championship.
Ramsden's father, Jack, was one of the most high-profile and successful gamblers in the country during the 1980s and 1990s. Operating from a yard in Yorkshire, where the trainer's licence was held by Lynda, Jack's wife, the Ramsdens sent out many winners, few - if any - of which ran unbacked. Along with Kieren Fallon, the Ramsdens also famously won a libel action against The Sporting Life in February 1998, after the newspaper alleged that their horse Top Cees had not run on its merits in a race at Newmarket.

Share this post


Link to post
Share on other sites

Pretty sure thats got to be a mistake - more likely 2.5k/wk

You can rent a £1M hous eorund our way for around £2K a month....makes no sense to buy one. There is no market for rentals over £1200 really.

Share this post


Link to post
Share on other sites

You can rent a £1M hous eorund our way for around £2K a month....makes no sense to buy one. There is no market for rentals over £1200 really.

Yep.

I always use a quick ready reckoner when comparing rental - monthly rent/bedrooms.

If you go a few miles out of (non-London) Towns, the rent per bedroom falls off dramatically.

And you tend to get lots of parking.

Get 6 people togerth for a really good house share.

But haggle on not paying for gardening - ill be fcked if im spending any of my time tending someones p1ssing flowers.

Share this post


Link to post
Share on other sites

Yep, £500/wk gets you a 2 bed flat in C LOndon. Outside it gets you a 5 bed detached - 28 mins to L'Pool St Stn.

Can STILL get 5 bed o/s London for that.

But flats in London are now £450/wk...

In fact I noticed family home rents o/s N M25 are at 2005 levels. Yet people tell me rents are soaring...

Edited by Killer Bunny

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...

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 311 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.