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Clarky Cat

Even Flats In Barnsley Being Marketed To Foreign "investors"

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Noticed this being marketed to foreign investors as an ideal way to enter the UK property market.

http://www.experienceinvest.com/the-skyline-barnsly/

Available 23% below current market valuations, these highly desirable buy-to-let apartments offer strong capital appreciation prospects in the mid-to long-term.

Investment highlights:

  • Modern 1 bedroom apartments for £69,950
  • Modern 2 bedroom apartments for £76,000
  • 8% NET assured for 2 years
  • Discounted price (23% below current market valuations)
  • 250-year leasehold
  • Only 50% required during build phase
  • 4% interest paid on deposited funds
  • Barnsley named in UK’s top 10 best performing locations for rising property values
  • Fully managed by Superior Living Ltd.
  • Experienced Developer with exemplary track record

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Discounted price (23% below current market valuations)

How have they arrived at the current market valuation to make that claim. They must have used their own valuers for their Skidline project.

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I think this may be it.

http://www.wearebarnsley.com/news/article/4905/end-in-sight-for-city-reach-building

IT is hoped the ill-fated and unfinished City Reach apartments could be 'up and running' in 15 months.

Coun Doug Birkinshaw said there is 'an end in sight' for the part-built block of flats at the junction of John Street and Burleigh Street following meetings between a representative for the new owners and Barnsley Council.

It's not yet known who has bought the building but Steve Burlaga, who represents the new owners, confirmed he had met with the council's planning department on their behalf to discuss completion of the development.

The concrete skeleton - which was conceived as a striking new addition to the Barnsley skyline when the development was given planning permission almost seven years ago - sold for £375,000 at auction in October.

10643_m.jpg

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I think this may be it.

10643_m.jpg

So there's not enough local demand (housing shortage and all) so they have to offer them to the Chinese.

Is that who the proposed extra 200,000 + houses per year to be built in the UK are going to be sold to.

It's starting to get like places like southern fringe europe with the unfinished buildings and the reinforcing rods hopefully sticking up out of buildings everywhere in case of future development.

Edited by billybong

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So there's not enough local demand (housing shortage and all) so they have to offer them to the Chinese.

Is that who the proposed extra 200,000 + houses per year to be built in the UK are going to be sold to.

It's starting to get like places like southern fringe europe with the unfinished buildings and the reinforcing rods hopefully sticking up out of buildings everywhere in case of future development.

I think that is mainly down to tax - unfinished without a recognisable roof then lower / no? residential tax.

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I think that is mainly down to tax - unfinished without a recognisable roof then lower / no? residential tax.

I think you're likely correct on that but it also suggests some lack of current demand for the buildings/extensions as well.

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So there's not enough local demand (housing shortage and all) so they have to offer them to the Chinese.

Is that who the proposed extra 200,000 + houses per year to be built in the UK are going to be sold to.

Yes, of course. Why would you think otherwise?

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  • Barnsley named in UK’s top 10 best performing locations for rising property values

Named by whom? That chuckle brother selling his house up the road?

The whole website/sales pitch looks dubious.

Mind, if there are idiots willing to invest in Detroit, why not Barnsleeeeh?

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Barnsley town management is nothing short of criminal.

Do not see how these flats have appeal when for a similar price you don't have management fees and can get one of the old coal mining terraces.

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I think that is mainly down to tax - unfinished without a recognisable roof then lower / no? residential tax.

When I asked about them in Italy, the locals explained that many of them were started without planning permission and shelved when the planning folks ordered them to stop.

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Barnsley town management is nothing short of criminal.

Do not see how these flats have appeal when for a similar price you don't have management fees and can get one of the old coal mining terraces.

Just the one?

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Barnsley town management is nothing short of criminal.

Do not see how these flats have appeal when for a similar price you don't have management fees and can get one of the old coal mining terraces.

A lot of foreign types simply don't like 'old' things. I remember at uni all the international students would gladly pay 2, 3 even 4 times the amount to live in these private halls rather than an old fashioned student house. Weekly rent for a room in a house was typically £30-50 a week depending on size, in a new build hall £80-180 depending on having an en-suite or not.

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Just the one?

Surprisingly - yeah. Going rate for a 2 bedder is about 60-69k

I remember 10 years ago they were in the 25-30k bracket

15 years 15k ish was common

Edited by Gerinako

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In the future the UK will be divided up into a national grid of pockets of air. Foreigners will buy them up and charge us for the air we breathe. it's a natural progression after they have paid us in advance for some of our body parts, for insurance should some of their parts fail.

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Yes, of course. Why would you think otherwise?

It must be something to do with the fact that to explain crazy house prices they (TPTB and the various outlets) keep saying there's already supposed to be a shortage of housing for those currently living in the UK plus the continuing need to accommodate the UK's increasing population plus new arrivals to the UK from eastern europe etc.

Edited by billybong

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I walk past this building most days, the closest thing to it, to the East is HMRC offices/ATOS/Serco leading onto Sheffield Rd shops/takeaways , to the West of the building is the drug charity Addaction which runs a foodbank from their premises and an abandoned furniture store, before you cross the road and reach Morrisons. Directly to the North is the Alhambra shopping mall and town centre.

Has had a lot of problems with people using it to buy/sell, smoke and inject heroin due to it proximity to addaction.

Come HS2 this could quite possibly become London commuter territory, as only a short walk to station, short <15minute journey to MDH, which is proposed location of HS2 station.

Pre 1900 2up 2downs selling for about 40k nearby. The area is the most ethnically diverse in Barnsley with sizeable eastern european population and increased dumping of asylum seekers by G4S etc. in PRS. Still 90%+ White British mind you.

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Chinese money went into huge amount of new student accommodation in Huddersfield apparently. Probably one of the biggest building projects in the town in recent years. Which is good as it seems to be mainly Chinese students taking up the rooms. Foreign students are less keen on local Rigsby style housing.

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A lot of foreign types simply don't like 'old' things. I remember at uni all the international students would gladly pay 2, 3 even 4 times the amount to live in these private halls rather than an old fashioned student house. Weekly rent for a room in a house was typically £30-50 a week depending on size, in a new build hall £80-180 depending on having an en-suite or not.

It's the same with apartments in China, they want it new, it's like the kudos of buying a new car.

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Come HS2 this could quite possibly become London commuter territory,

Buybuybuy!

More seriously, has the fast link to London led to Doncaster house prices soaring way above anywhere else in South Yorkshire?

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