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rogerthelodger

Bought For £2.2M, Yours For £750K – The House That's Lost £1309 A Day

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http://www.scotsman.com/the-scotsman/scotland/bought_for_2_2m_yours_for_750k_the_house_that_s_lost_1_309_a_day_1_1914099

IT WAS one of the most expensive properties in Scotland when it sold for a massive £2.2 million.

Now the owners of mansion house estate Strathgarry House have proved it is possible to shave two-thirds off the value of a home in just three years – by gutting it and then putting it back on the market.

The ten-bedroom Victorian property near Killiecrankie – which has salmon fishing pools at the bottom of the garden and boasts grounds totalling 23 acres, a 19th-century walled garden and a private tennis court – has been put up for sale at offers over £750,000.

That is £1.45m less than its sale price of three years ago, meaning it has lost £1,308 a day since its previous purchase.

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http://www.scotsman....a_day_1_1914099

IT WAS one of the most expensive properties in Scotland when it sold for a massive £2.2 million.

Now the owners of mansion house estate Strathgarry House have proved it is possible to shave two-thirds off the value of a home in just three years – by gutting it and then putting it back on the market.

The ten-bedroom Victorian property near Killiecrankie – which has salmon fishing pools at the bottom of the garden and boasts grounds totalling 23 acres, a 19th-century walled garden and a private tennis court – has been put up for sale at offers over £750,000.

That is £1.45m less than its sale price of three years ago, meaning it has lost £1,308 a day since its previous purchase.

Suspect they'll get a bit more for it than that, partly due to this sort of clever PR being printed verbatim in the papers. This article will have started life as a press release from Savills, complete with a breathless "grab it while it;'s hot" quote from Jamie Nairn , which has been lighly reworked by a hack at the Scotsman.

The biggest load of tosh is this bit of VI ramping.....

"Although the property market in Scotland has taken a hit from the recession, higher-end homes have been better protected than cheaper ones due to a continued supply of cash-rich buyers – or purchasers with a large amount of equity in their existing homes."

simply not true. I haven't seen so many £500,000+ rural houses on the market for a decade. Many with price cuts, some not selling and disappearing into the rental market, no doubt to reappear when the market "improves" or the seller capitulates.

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Suspect they'll get a bit more for it than that, partly due to this sort of clever PR being printed verbatim in the papers. This article will have started life as a press release from Savills, complete with a breathless "grab it while it;'s hot" quote from Jamie Nairn , which has been lighly reworked by a hack at the Scotsman.

The biggest load of tosh is this bit of VI ramping.....

"Although the property market in Scotland has taken a hit from the recession, higher-end homes have been better protected than cheaper ones due to a continued supply of cash-rich buyers – or purchasers with a large amount of equity in their existing homes."

simply not true. I haven't seen so many £500,000+ rural houses on the market for a decade. Many with price cuts, some not selling and disappearing into the rental market, no doubt to reappear when the market "improves" or the seller capitulates.

they also got a free advert on STV news at 6pm last night ! http://player.stv.tv/programmes/news-at-six-glasgow-west/2011-10-17-1800/ if you can be bothered sitting through 2 minutes of adverts,it's about half way into programme.

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I think this sort of free publicity can equally work against the vendor.

"Look how much less this is worth than they thought it was!"

I can see a few £200k offers coming in :o

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with food and fuel ramping skywards,local job market poor,outlooks not good for expensive to run country pads.seeing loads of reductions here in the east mids and tehy're still not shifting

Indeed - think of the heating bills for that place in winter :o You'll be putting aside a grand+ a month just to keep the place running, then there's the council tax, the upkeep of the estate, etc.

Poisoned chalice!

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how about this,i've heard that the pethouse is going on the market at £3.2M ! http://www.golfblogger.co.uk/post/kohler-company-has-announced-official-development-plans-for-hamilton-grand-st-andrews-f62

There will be a total of 26 private residences ranging from two-, three- and four-bedroom apartments, including a penthouse with expansive 360-degree views and a private balcony. Prices for the residences start at £1.35 million for 99 year leases

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



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