Jump to content
House Price Crash Forum

2019 City Road EC1V - Canaletto Penthouse - £5M resale loss?


Recommended Posts

Since 2010, several luxury apartment blocks have been constructed along City Road, between the Old Street roundabout and the Angel.   These include the Canaletto Tower, 250 City Road, The Lexicon (Chronicle Tower), The Eagle (Eagle Point), The Atlas Building, Bezier Apartments and others.    These contain units that in many cases sold new in excess of £1M and often significantly more for those on their upper "penthouse" floors.     

The latest Land Registry Monthly Price Paid Data for May 2019 was released a few days ago on 28 June.   I spotted what seems to be a huge loss on one of these developments.

The Canaletto Penthouse (Flat 2901, 257 City Road, London EC1V 1AF) 

First sold £7.62M,  19/10/2018 (Source - Rightmove - House Prices in EC1V 1AF)

Resold, £2.13M , 06/03/2019  (Source - Land Registry Price Paid Data - Single month  May 2019)

That would seem to suggest almost a £5.5M loss, in less than 5 months - wow !   

Does anyone have any more background info on what happened here? 

Link to post
Share on other sites
  • 9 months later...
  • 1 month later...
  • 3 weeks later...

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.





×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.