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Thunderbirds Are ... Still Here


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I went past Thunderbird yesterday and, guess what? Oh, the suspense! OK, here it is: Thunderbird is still empty, three years (at least) after completion. It has bins now (perhaps a legacy from the short period someone spent living in it last year), and no sold boards, but as far as I can tell, no-one is living there.

It's looking a bit weather-beaten now -- the roof, which isn't copper but I think was supposed to look like weathered copper (verdigris), now has dirty streaks down it.

By the way, I think I might have been wrong when I said in one of my earlier posts that you can see into the bathroom from the road -- it's a bedroom, not a bathroom. So that's OK then!

BE

This property featured in a TV show tonight hosted by Piers Moron. An investigation, of sorts, into the Sandbanks bubble within a bubble. Mainly rubber necking dross but one comment stood out for me. The exceptional properties will always have a market (until the sea flows in) but the distinctly average stock changing hands at 1 or £2m on the back of the frenzy are in for a real spanking. I think you can probably extrapolate this nationally.

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This property featured in a TV show tonight hosted by Piers Moron. An investigation, of sorts, into the Sandbanks bubble within a bubble. Mainly rubber necking dross but one comment stood out for me. The exceptional properties will always have a market (until the sea flows in) but the distinctly average stock changing hands at 1 or £2m on the back of the frenzy are in for a real spanking. I think you can probably extrapolate this nationally.

Quite.

I bet it would have sold if it was on Panorama Road.

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  • 4 weeks later...

Now £3.3m. Three years on.

http://www.rightmove.co.uk/viewdetails-823...=2&tr_t=buy

Back of an envelope costs:

Land £0.8m

Build £0.8m

Interest £0.3m - 3 years at 6%

Total £1.9m

Pricing / profit:

Original: £4m - £2.4m

Now: £3.3m - £1.4m

1 year? £2.5m - £0.5m

Can't see why the developer's not cutting the price more. Sure the profit would be smaller but still substantial.

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I doubt very much if it's worth 1.8 million.

It's a vanity project on the part of the developer who built a house which will only appeal to a small number of buyers. Personally I think it looks hideous and would appeal mainly to annorak Thunderbird fans- and not many others. If I had money to spend in that part of the world I'd want something with a bit of class and some taste- and it would have to have a sea view.

Without a sea view I can't see much point of paying mega money- there are stacks of really nice houses a short distance inland so what't the point?

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Guest Bart of Darkness
Personally I think it looks hideous and would appeal mainly to annorak Thunderbird fans

Probably would have done better targeting trekkies or whovians. They tend to be bigger spenders.

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Realistically... what's it worth?

It's in a very good location for where it is, but it's not in London either. It's a spacious house, but it aint a hotel, you aint gonna get permission to build a block of flats in the garden, and it aint gonna get divided into 4 townhouses that can sell for a good amount each. It may have features that would appeal to certain people, but it's also not what standard logic accepts a house looks like.

It's for a couple, possibly with a family, and quite a wealthy couple. It's probably not going to go people like two doctors though, it's a bit above that. On the other hand, it's going to attract either a young couple or a sad sod with a mid life crisis. It's not for people that have really spent their life earning money to spend on that home that might be a bit more conservative in their dotage.

So I think it's worth more than 3.4 x (£65k+£65k). But not necessarily that much more. £700k maximum?

Edited by mikeymadman
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Now £3.3m. Three years on.

http://www.rightmove.co.uk/viewdetails-823...=2&tr_t=buy

Back of an envelope costs:

Land £0.8m

Build £0.8m

Interest £0.3m - 3 years at 6%

Total £1.9m

Pricing / profit:

Original: £4m - £2.4m

Now: £3.3m - £1.4m

1 year? £2.5m - £0.5m

Can't see why the developer's not cutting the price more. Sure the profit would be smaller but still substantial.

I wouldnt like to guess or disagree with the land price, but I think the build cost alone could be up to more something like £1.4m at least. Reason - area at approx 560 m2, with build cost at £2500 per m2 = £1.4m. Flats are quite often built at £1800/m2 and they are repeating shoe boxes!

This house as a lot of high spec items in and the swimming pool etc only adds to it. Also add in design fees, planning/buildin regs costs etc etc. To summarise with your calcs, at £3.3m they may ''only'' be making around 500K Drop it a bit under £3m and they make nought. But my gut guess is that at £3m they make nothing - all for a lot of time and effort - based on a %25 return margin assumption....

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I wouldnt like to guess or disagree with the land price, but I think the build cost alone could be up to more something like £1.4m at least. Reason - area at approx 560 m2, with build cost at £2500 per m2 = £1.4m. Flats are quite often built at £1800/m2 and they are repeating shoe boxes!

This house as a lot of high spec items in and the swimming pool etc only adds to it. Also add in design fees, planning/buildin regs costs etc etc. To summarise with your calcs, at £3.3m they may ''only'' be making around 500K Drop it a bit under £3m and they make nought. But my gut guess is that at £3m they make nothing - all for a lot of time and effort - based on a %25 return margin assumption....

In todays climate these places won't even sell at 400K. They don't get it.

I can't wait to see these 'home owners' living in council 1 bed flats, using the bus to shop in Netto.

Popcorn at the ready.

Still, not as good as that guy on tv a few months back with his black new range rover, private reg, blacked out windows, relatively low salary, huge house debt, credit card debt - blaming the banks for loaning him all that money he now oews, as he sips champagne at the races.

Maybe they can shop together.....Mmmmmm...Nettos own brand corn flakes...lovely...

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  • 1 month later...
It's looking a bit weather-beaten now -- the roof, which isn't copper but I think was supposed to look like weathered copper (verdigris), now has dirty streaks down it.

Ahh - I was wondering how that roof would wear or discolour with time, and whether it would be expensive to maintain.

Downloading the 6mb brochure, and zooming in, there doesn't seem to be a gutter or conventional drainage system with that metal roof.

So any heavy rain would presumably just flow straight down and on to the flowerbeds, or it seems more likely to flow on to the driveway, around the entrance, and where the superimposed super-cars are.

I'd find the spiral staircase a headache too, with all the LED jewel light-clusters embedded in to it.

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I have seen a couple of the Piers Moron programmes about Sandbanks - and noticed two Portsmouth footballers filmed there. One, Sulley Muntari from Ghana, looked completely bemused about why he should feel so privileged to live there. The other was Pedro Mendes.

They've both just been sold. One to an Italian club, one to Rangers in Scotland. Not everyone thinks they've arrived in Paradise and must never leave, but at least the EAs there benefit from a rapid turnover of players at Pompey - I wonder where the manager lives.

Y

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  • 2 years later...

Just been past the Lloyds estate agents in Canford Cliffs, and Thunderbird is in the window -- a snip at £3.25m! Curiously, the picture in the window isn't a photo, but a computer graphic, presumably from when the house was first on the market, before it was built.

Thunderbird is listed under Property for Sale on the Seven Developments website, which suggests that it was never sold.

BE

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Took another of my regular drives round Sandbanks today. For Sale and To Let signs absolutely everywhere. More than I've ever seen.

That little peninsula is the biggest house price rip-off I've ever come across. I have a strong feeling there's a bubble about to burst. A bubble created simply by EA's hype and media ramping.

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Took another of my regular drives round Sandbanks today. For Sale and To Let signs absolutely everywhere. More than I've ever seen.

That little peninsula is the biggest house price rip-off I've ever come across. I have a strong feeling there's a bubble about to burst. A bubble created simply by EA's hype and media ramping.

It probably burst a long time ago, the vendors just don't know it yet :lol:

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  • 1 year later...

Just been past the Lloyds estate agents in Canford Cliffs, and Thunderbird is in the window -- a snip at £3.25m! Curiously, the picture in the window isn't a photo, but a computer graphic, presumably from when the house was first on the market, before it was built.

Thunderbird is listed under Property for Sale on the Seven Developments website, which suggests that it was never sold.

BE

This thread won't die.

94328_CCI120008_IMG_00_0000_max_620x414.JPG

'Thunderbird' a truly iconic, innovative and award winning property now available for purchase from the original developers - Seven.

This is on sale again now in 2012 http://www.rightmove.co.uk/property-for-sale/property-22427313.html £3.9m

It's never been sold it seems, but they whack up the price each year.

See you in 2020. How much will it be then? £50m?

Edited by MrTReturns
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naff ..theres no floorplan , you would have thought for that sort of money ...Southerbys would have just made a bit of an effort .?..maybe their window's paint program doesn't do curves ........

the old £3.3m link has been removed but the price is still there

http://www.rightmove...ty-8239705.html

Edited by Tankus
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Well the developer needs to recover the 500k interest costs he has incurred of course . Don't you remember the age old developer formula :

(Cost plus interest ) times 100 per cent

(Cost plus interest ) times 100 per cent = Cost plus interest

What is the point of this 'formula'? :blink:

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  • 1 month later...

"The area around Bournemouth is now being targeted as a prime spot for overseas investors outside London."

Linky

"How about this modest little family home? Thunderbird, an award-winning property by developers Seven, is on the market for £3.95 million."

New Rightmove Link

We missed the open weekend, could have had a HPC party ;)

Edited by phead
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..//...

People talk a lot in this area about how much flats and houses cost, and it's true to say that asking prices for new developments are astonishing, but they just don't seem to be selling -- Thunderbird is just one example, but there are many, many others.

BE

:lol::P:D

Because there properties were NEVER -- NEVER --- NEVER EVER "worth" what these dipsticks THOUGHT they were worth.....

NEVER.

Edited by eric pebble
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  • 442 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% +
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      • up 5%



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