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The £3Bn London Sell Off

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http://www.standard.co.uk/news/london/revealed-londons-3-billion-embassy-selloff-bonanza-8778086.html

A sell-off of central London embassies will create £3 billion of super-prime homes in the most exclusive streets in the capital.

Twenty diplomatic missions and residences have been prepared for sale in the last six months. More are in the pipeline as foreign governments realise they are “sitting on a gold mine”.

Almost all the diplomatic properties are being earmarked for conversion into apartments to meet the demand from wealthy buyers, mainly foreign, in areas such as Kensington, Belgravia and Holland Park. The former European Council of Foreign Relations building on Old Queen Street near St James’s Park was sold this week to developer Galliard Homes for £21.5 million. The eight-storey building will be converted into 35 apartments that could be worth £100 million.

Is this the market top I wonder?

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Is this the market top I wonder?

The market top is always behind you.My personal market top was in 2007 when I saw a developer turn a failed petrol station into 20 flats.How wrong was I?

Edited by Sancho Panza

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The market top is always behind you.My personal market top was in 2007 when I saw a developer turn a failed petrol station into 20 flats.How wrong was I?

Depends what you did with your deposit. As a creditor you have optionality, as a debtor you do not.

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