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

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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? 

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