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The Curse Of Grand Designs? Owners Of Nine-Storey Water Tower Conversion That Featured In Tv Show Knock £2Million Off The Asking Price

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http://www.dailymail.co.uk/news/article-2390446/The-curse-Grand-Designs-Owners-storey-water-tower-featured-TV-knock-2million-asking-price.html

Converted Victorian water tower featured on 100th episode of show

In April, the asking price was a reported £6.5m - now it is £4.75m

Owners bought Grade II listed building for £380K and spent £2m on it

...

At the time, Mr McCloud said: 'I thought that story had everything.

'Conservation, ridiculous debt – he borrowed his grandmother’s credit card and owes £95,000 just to finish this thing – ludicrous ambition and extraordinary vision. It’s crazy but he pulls it off.'

..

It is not clear why the property's asking price has since fallen. Estate agents Hamptons International were not available for comment when contacted by MailOnline, but there is no suggestion it is directly linked with the appearance on the show.

Perhaps the asking price was unrealistic? Or signs of a housing crash?

Clearly not a home built for them to live in long term then?

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Sooo, we are supposed to feel sorry for them because they will ONLY make over £2m profit if it sells rather than £4m??? If that's a curse then get the voodoo doctor over and curse me up!

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I can understand people building weird houses for themselves to live in, but if you build one to sell you may well find that others don't share your 'vision'.

I am reminded of a couple who bought a prime site with an old house on it not a million miles from here - right next to a pedestrian entrance to Richmond Park. They bought it for about a mill, spent about another mill building a very weird house - there was a big Sun Times article about it, with the owners looking very smug about how clever they'd been and all the money they were going to make. It went on the market for 5 mill and finally sold ages later for 2.83.

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Being plonked next to what looks like an office block and a travel lodge might detract from the price.

Actually, being in Elephant is what is detracting most from the price in my view (I cycle past it on my way to/from work every day). Although I don't understand why the Mail have an article about it now - according to Property Bee the price was dropped in May... and it's still at least £2M overvalued.

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Ok, which one of you lot is Bob from Bridport ?

I would pay around £50,000 for it because IN MY OPINION that's what it's worth. Oh and that's me being generous as well.

- Bob, Bridport, United Kingdom, 13/8/2013 2:10

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