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I'd intended for some years to visit the "1940s house" tea room, but it kept odd opening hours, and I never got round to it. I've just googled it and found it was put up for auction a few years ago, with guide price £2M. The owner, Johnny Vercoutre, said he paid £95k for it in 1995, but he had done an awful lot of work on it. The thing that caught my eye was that even in 1995, the top floors had been empty since WWII,  and Mr Vercoutre said at that time there was a brothel next door, and man outside selling arms from his car boot. Twenty years isn't a long time for so much change to have occurred. In the same vein, I can't see why gentrification shouldn't reverse rapidly once prices start falling, and the poorer people start moving in!

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  • 4 weeks later...

Did it ever sell? Shoreditch is an odd place. It's much better than it was 10 or so years ago, but still has plenty of pockets that haven't changed at all. There are arguably more homeless smackheads now than back then.

To be honest I can't see Shoreditch doing a reverse gentrification. It's too central. Unless the tech industry and City collapse.

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