Jump to content
House Price Crash Forum
Sign in to follow this  
Realistbear

10k For Nothing--literally

Recommended Posts

How this is so ridiculous? It's essentially a bet on whether planning permission will be granted.

It has an access problem. You would need to own the property below and run a stair case up through the roof. Or, get permission for an oversized fire escape to run up the side of the property. Long climb with the groceries and how do you move the furniture in? The building is old and may not take the additional weight of a build on. Planning permission seems impossible. I think the EA just wants to create a frenzy of interest and bait and switch to some other property they are trying to offload before the crash. :lol:

Share this post


Link to post
Share on other sites

Planning, access and structural problems aside there are some fantastic prefab roof top homes out there. Given that space is at a premium in some parts of central London and the prices even cruddy flats fetch (and will continue to fetch post correction) it's not that outrageous an idea.

http://www.loftcube.net/

http://www.fabprefab.com/

Share this post


Link to post
Share on other sites
What an absolute bargain. You people couldn't smell potential if it were stuck to your nose.......

There's probably potential in bottled air but you know what they say: there's a sucker born every minute!

Share this post


Link to post
Share on other sites

Spank me :D but I have to agree with TTRTR. Subject to the issues I mentioned earlier this is actually 'potentially' a good opportunity. Penthouse flat in Chelsea, worth at least £300k? so assumme £10k to purchase, another £5k in planning expert fees, £30k architect, £50k builders and £100k prefab. Total £195k, seems a bargain to me.

And as for bottled air you can find it here

http://www.simplyscuba.com/SearchResults.a...Department=5526

Share this post


Link to post
Share on other sites

Spank me :D but I have to agree with TTRTR. Subject to the issues I mentioned earlier this is actually 'potentially' a good opportunity. Penthouse flat in Chelsea, worth at least £300k? so assumme £10k to purchase, another £5k in planning expert fees, £30k architect, £50k builders and £100k prefab. Total £195k, seems a bargain to me.

And as for bottled air you can find it here

http://www.simplyscuba.com/SearchResults.a...Department=5526

Access?? :blink:

Share this post


Link to post
Share on other sites

Which begs the question why they haven´t knocked down the garage downstairs and hole upstairs to build something altogether better than some glorified parking kiosk on top of the dunp downstairs.

Any suggestions?

Planning permission? Cashflow problems? Or realization that fallout from this year´s round of city bonuses will be the last chance to offload the crap that remains?

btp

Share this post


Link to post
Share on other sites
What an absolute bargain. You people couldn't smell potential if it were stuck to your nose.......

Then go buy it TTRTR!

Properly developed it's bound to be worth tens of million pounds on the basis that property prices will rise exponentially for ever.

It might even command a rental yield of 1-2% (before voids, marketing costs, maintenance, legals, ground rent, hassle etc.)

Share this post


Link to post
Share on other sites

What an absolute bargain. You people couldn't smell potential if it were stuck to your nose.......

I smelt the potential instantly... but then, having been a building student in an early nefarious and aborted career attempt, I also smelled the potential that the building underneath it, which was quite old, potentially didn't have the structural stability to carry another layer. Buildings are normally built to withstand the weight of the layers that are included in the original plans - its called economy of design. You don't build the building to withstand another 2T unless you plan to park a car on it! Didn't even get to thinking about access.

So would I spend 2K to find out that there wasn't the potential... nup! Of course in this overheated speculative market, I am sure someone will, and in this overheated and corrupt society, I am sure they will skin a planning application through by a hair and a brown paper bag.

Share this post


Link to post
Share on other sites

Yup, basically if they're giving free money away why doesn't the current owner realise the 'massive gains' himself.

Also, if they expect the person in the building 'below' to buy the space then isn't he essentially buying the air above his own property, which by all rights is already his?

Give me £5k and I'll sell you the thin air that currently resides above your abode.

Share this post


Link to post
Share on other sites

What an absolute bargain. You people couldn't smell potential if it were stuck to your nose.......

TTRTR,

Me old mate, you know as well as I do that there is something 'going on' here.

If there was indeed any chance of obtaining planning permission in Chelsea for this 'space' it would command a much higher price.

I know it sounds like a low blow and all...but it does sound like the original developer has had problems of some sort with the person who owns the flat directly below the the 'space' and this is either the developer gettting his own back or just wringing an extra 5-10k out of the poor sap who bought the flat below the 'space'....there is another option

The poor sap who bought the flat below found he also owned the 'space' above and is trying to cash in on his good fortune :lol: for this 'free' bit of 'space' he acquired in his deeds.

In either case, the chances of obtaining planning look slim to non-existent as it would require massive alterations to the whole building (which would have been done at the first build stage of the original conversion if it had been cost effective) ....this seller is about 2 and a half years late on this particluar 'bubble' phase.

Share this post


Link to post
Share on other sites

Could this be a "Flying Freehold" ?

I once owned a semi detached guest house in Cornwall. The property was originally built by a local builder, for himself and his son.

The property was three story, and on the third floor, my property extended over the adjoining property. The house deeds included "perpetual right of support" from the property underneath.

Though as we discovered when my neighbour decided to sell, my deeds did not require me to provide a roof, for his house.

My neighbour and I had been friends for quite a few years, so we were able to sort out the mess without too many problems, though if I had chosen to be 'awkward', I could have made his cheque book weep tears of blood.

I just wonder if there is something similar going on in this case ?

Share this post


Link to post
Share on other sites

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...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 302 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • 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.