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TheCountOfNowhere

Bargain Loving Brits in Blackpool

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Did anyone see this ?

http://www.radiotimes.com/tv-programme/e/fzhhcc/bargain-loving-brits-in-blackpool--series-1-episode-4/

 

Episode 4 saw two peolpe trying to sell their B&B that they bought 24 years ago for £200,000.

24 years ago they bought it for IIRC.

 

 

 

 

 

£235,000

 

a loss of £35K + interest at 3% say, £240K.

Total loss approx 1/4 of a million pounds.

 

If they'd bought 2 terraces in London 24 years ago they'd be sat on £1.5M....missing out on £1.3 Million profit.

 

Who said you can't loose on bricks and mortar.

Shows how ludicrous the London Mega bubble is too.

 

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9 minutes ago, ExiledMatty said:

Blackpool is where they should send asylum seekers and other trouble makers.

Amazingly it seemed from the program it was Londoners with pockets full of free cash that were heading north to snap up a bargain ( wont be saying that in 24 years ) 

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It's housed them for 24 years Count, and provided them with a business/income.  That's alright to me.

The Times also touched on a bit about Blackpool in recent article about some seaside towns.

Quote

December 4 2017

..An officer from a northern prison once explained to me that when a man with no family or friends is released he is advised to go to Blackpool. 

..Blackpool has three times the national average of children in care, and record antidepressant use. 

https://www.thetimes.co.uk/article/send-out-an-sos-save-our-seasidetowns-zr5fzqcrw

And the FT had a really indepth article a couple of weeks ago.

Quote

 

Left behind: can anyone save the towns the economy forgot?

Soaring antidepressant usage, falling life expectancy: Blackpool embodies much of what is going wrong on the fringes of Britain

NOVEMBER 16, 2017 in Blackpool

...Rather than the classic downward spiral of a place in decline, Blackpool is stuck in its own strange dynamic. The more the economy rots, the more some people come.

 

A bit of it gave pause for thought, but some of the negatives seem overdone.  Maybe because there is hope it will pull through.  In fact article says people are trying new things and innovating.  Not going to re-read article, but think there was a part with some concern that capable young people leave Blackpool, never to return.  CoVIs has really done alright for himself, having been raised in Blackpool - although he sometimes goes back to visit family iirc.

Also some of it alarmist... falling life expectancy? 

...Boys born in Blackpool can expect to live to just 74 years - the second lowest in the UK, and up by just 2.7 years since 1993.

The prices in Lytham St Annes always shock me (so high).

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Article in the FT a few weeks ago about blackpool - paywall

https://www.ft.com/content/b6dbf34e-c987-11e7-aa33-c63fdc9b8c6c

'Rather than the classic downward spiral of a place in decline, Blackpool is stuck in its own strange dynamic. The more the economy rots, the more some people come.'

I used to holiday in southport which is far nicer but i often stop in southport/blackpool 3 or 4 times a year with my kids. Blackpool just seems to be overpriced pubs and bedsits nowadays. The arcades still have the same machines in them as they did in 95 when i was a nipper. 

I can see why it might have an odd sort of appeal with londoners as , once you leave the beachfront its all 2 story red brick slums. Reminds me of when i used to live in East Ham. Same for Brighton which i've never seen the appeal of. 

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BTW - I made this post in different thread, but more relevant here.

On 29/11/2017 at 2:01 PM, Venger said:

As for the BTL though - 

Challenged Wayward?  Only recently after best part of 2 decades, HPI insanity in so many areas, and GenRent.  It's unbelievable (BTL).

...although not that we would want to live in that area - and certainly not in that type of house - yesterday did see a 10-bed property that sold for £71,000 in 2001, heading to auction with a guide price of £20,000.... (not that guide price really means much) - which on surface offers a little bit of encouragement that there can be adjustment in all the bubble areas.

My memory of the numbers was slightly out, for I didn't go back to check listing.

Not that far out though.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=67194056&sale=43646469&country=england

Presuming it all matches up as it appears to.

Sale Date Property Price Paid Source
21 Feb 2003
Terraced, Freehold
£75,000 Land Registry

Guide Price £20,000

  • AUCTION HOUSE NORTH WEST TO BE SOLD BY PUBLIC AUCTION ON WEDNESDAY 13TH DECEMBER 2017

http://www.rightmove.co.uk/property-for-sale/property-70353437.html

 

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1 hour ago, Venger said:

It's housed them for 24 years Count, and provided them with a business/income.  That's alright to me.

 

I'll give you that Venger.

The look of shock on their faces as they realised they'd missed out on tax free unearned HPI though was priceless.

Many peolpe who havent worked as hard as these two blokes could be sitting on £1M + 

In hindsight the thing to do was to open a B&B in London for all the oversea visitors.

Edited by TheCountOfNowhere

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It's a bizarre TV programme. 

One minute he is telling us how 17 million visit Blackpool per year and it's all fantastic, the next minute he's telling us there are hundreds of hotels for sale.

The busiest time of year is apparently when the illuminations are on, i.e. it's not the summer that is high season any more.  We went in August for a long weekend and some of the pubs on Friday night were closing at 10:50 p.m. it was that quiet.

Oh, and that portakabin village they keep showing has hills in the background.  It's actually in Garstang, over 30 minutes from Blackpool by car and a quite separate place.

Edited by kzb

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34 minutes ago, kzb said:

It's a bizarre TV programme. 

One minute he is telling us how 17 million visit Blackpool per year and it's all fantastic, the next minute he's telling us there are hundreds of hotels for sale.

The busiest time of year is apparently when the illuminations are on, i.e. it's not the summer that is high season any more.  We went in August for a long weekend and some of the pubs on Friday night were closing at 10:50 p.m. it was that quiet.

Oh, and that portakabin village they keep showing has hills in the background.  It's actually in Garstang, over 30 minutes from Blackpool by car and a quite separate place.

It's an advert for Blackpool.

 

That is all.

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7 minutes ago, TheCountOfNowhere said:

It's an advert for Blackpool.

 

That is all.

Not a good one, several episodes have been quite depressing....

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7 minutes ago, kzb said:

Not a good one, several episodes have been quite depressing....

I must admit, I watched it thinking it was bargain loving brits abroad and your findings was the same as mine.

 

I could live with being in  a dump  if the sun is shining

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26 minutes ago, TheCountOfNowhere said:

I must admit, I watched it thinking it was bargain loving brits abroad and your findings was the same as mine.

 

I could live with being in  a dump  if the sun is shining

Well, contrary to perceptions, the hours of sunshine in Blackpool in summer is pretty high, higher than London I think.

That's because the wind is so strong it blows the clouds away...

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For some reason I still go once a year, trying to relive fond memories, and always leave disappointed, and frankly depressed. Blackpool has sadly become a windswept version of everything bleak about this country. 

When the Pepsi Max coaster opened in 94' there was such a buzz, a revival in the making, but that soon faded. Past 20 years has seen it become a dumping ground for Jeremy Kylers. There's still many good people there, have huge admiration for Amanda Thompson trying to reinvigorate the Pleasure Beach, but I fear the town is truly in terminal decline forever.

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7 hours ago, Venger said:

BTW - I made this post in different thread, but more relevant here.

My memory of the numbers was slightly out, for I didn't go back to check listing.

Not that far out though.

http://www.rightmove.co.uk/house-prices/detailMatching.html?prop=67194056&sale=43646469&country=england

Presuming it all matches up as it appears to.

Sale Date Property Price Paid Source
21 Feb 2003
Terraced, Freehold
£75,000 Land Registry

Guide Price £20,000

  • AUCTION HOUSE NORTH WEST TO BE SOLD BY PUBLIC AUCTION ON WEDNESDAY 13TH DECEMBER 2017

http://www.rightmove.co.uk/property-for-sale/property-70353437.html

 

Why have prices dropped so much?  Other parts of the Northwest have not crashed by that amount, especially since 2003.  I wonder if there is something very wrong with that house.

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4 minutes ago, iamnumerate said:

Why have prices dropped so much?  Other parts of the Northwest have not crashed by that amount, especially since 2003.  I wonder if there is something very wrong with that house.

Since Brexit all the donkeys have gone back to Spain.

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13 hours ago, TheCountOfNowhere said:

Did anyone see this ?

http://www.radiotimes.com/tv-programme/e/fzhhcc/bargain-loving-brits-in-blackpool--series-1-episode-4/

 

Episode 4 saw two peolpe trying to sell their B&B that they bought 24 years ago for £200,000.

24 years ago they bought it for IIRC.

 

 

 

 

 

£235,000

 

a loss of £35K + interest at 3% say, £240K.

Total loss approx 1/4 of a million pounds.

 

If they'd bought 2 terraces in London 24 years ago they'd be sat on £1.5M....missing out on £1.3 Million profit.

 

Who said you can't loose on bricks and mortar.

Shows how ludicrous the London Mega bubble is too.

 

As I understood it they purchased the business for £200k, market changed a lot b+b wise in 20 years?

£3/£3.60 nmw could have made the business viable for the owners.

Now its just a lifestyle job for the owners, the property being the value now in the main?

How much money do they manage to extract each year?

 

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Blackpool is depressing. You notice how run down the place is and people with obvious drug problems on the streets. I also believe it has highest level of non working disabled people in the uk. It is too far from manchester to make it an attractive daily commute.

Competition between B&Bs is toughest in the uk and based almost entirely on price. Ive seen places advertised for twenty five quid a night including breakfast, not much profit there. 

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