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£5,000,000 Portfoilio Up For Sale - Speaks Volumes

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this is a shocker

i ll let the listings speak for themselves - not seen anything like it, all under the same agent....

42236_246647_IMG_00.jpg

http://www.rightmove.co.uk/viewdetails-824...=1&tr_t=buy

£1,300,000

41 bedrooms

42236_246219_IMG_00.jpg

http://www.rightmove.co.uk/viewdetails-823...=1&tr_t=buy

£2,100,000

58 bedrooms

42236_246572_IMG_00.jpg

http://www.rightmove.co.uk/viewdetails-824...=1&tr_t=buy

£1,300,000

38 bedrooms

for proof do a search under "BH1" postcode and set it to added in "last 14 days"

c'mon you russian oligarchs get your wallet out and buy a overpriced asset!

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The rightmove inventory in my postcode has gone from a steady 70 properties (for about 6 months at least) to 120+ in the last 3 weeks.

But apparently it might just be due to new agents joining (yeah, right). :rolleyes:

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UPDATE *additions* oh my LORD

These all came up within the last 24 hours by the same goadsby estate agents

Someones getting out big time....

http://www.rightmove.co.uk/viewdetails-837...=1&tr_t=buy

42203_241700_IMG_00.jpg

£2,100,000

18 bedrooms

http://www.rightmove.co.uk/viewdetails-837...=1&tr_t=buy

42203_242004_IMG_00.jpg

£1,100,000

16 bedrooms

http://www.rightmove.co.uk/viewdetails-837...=1&tr_t=buy

42203_234069_IMG_00.jpg

£845,000

13 bedrooms

http://www.rightmove.co.uk/viewdetails-837...=1&tr_t=buy [edit missed this one!]

42203_227069_IMG_00.jpg

£765,000 (Fixed Price)

15 bedrooms

http://www.rightmove.co.uk/viewdetails-837...=1&tr_t=buy

42203_227249_IMG_00.jpg

£750,000

11 bedrooms

http://www.rightmove.co.uk/viewdetails-837...=1&tr_t=buy

42203_239054_IMG_00.jpg

£585,000

14 bedrooms

i ve never seen so many hotels on sale :ohmy:

for proof do a search under "BH1" postcode + 3miles and set it to added in "last 24 hours"

I make 18 hotels on sale in a 3 mile radius of BH1, of which 9 were added in the last two weeks... you dont sell a hotel each week do you mr EA?

edit - i make 9 have been added in the last 2 weeks

Edited by notanewmember

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I make 18 hotels on sale in a 3 mile radius of BH1, of which 8 were added in the last two weeks... you dont sell a hotel each week do you mr EA?

I predict a Hotel Price Crash for this area!

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i need someone to vouch* my findings [somebody whos really bored] - all you need to do is search under "BH1" postcode + 3miles and set it to added in "last 24 hours" + miniumum bedrooms 5+, minimum price £500,000, to confirm the 24 hr additions on rightmove

thanks :)

*so i can come back to this thread- i m not making these things up ya know

Edited by notanewmember

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Guessno ones that bored, you 'll just have to believe me when i revisit the thread.

No shortage in hotels in BH1 then. Supply and demand and all that.

:lol: Everyone's too lazy on a late Saturday night. We're just enjoying all the bear porn...

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i need someone to vouch* my findings [somebody whos really bored] - all you need to do is search under "BH1" postcode + 3miles and set it to added in "last 24 hours" + miniumum bedrooms 5+, minimum price £500,000, to confirm the 24 hr additions on rightmove

thanks :)

*so i can come back to this thread- i m not making these things up ya know

My results were 12 in the last 3 days , but none in the last 24 hours .

Yes , bored .

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Extraordinary - the properties at the top of the thread are in veeery nice areas, the ones at the bottom close to skanksville.

Bournemouth is stuffed with these small to mid-size hotels, but that's a glut on the market. Even the south riviera doesn't need that many properties for conversion to care homes - unless the Spanish property bust is driving the elderly back to blighty.

Maybe some rich old dear died, and her naive beneficiaries have instructed the solicitors to dump the portfolio all in one go.

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Bournemouth is stuffed with these small to mid-size hotels, but that's a glut on the market. Even the south riviera doesn't need that many properties for conversion to care homes - unless the Spanish property bust is driving the elderly back to blighty.

Buying a property and converting it into a care home is very expensive these days due to all the rules and regulations, it would actually be cheaper to convert them into flats.... :ph34r:

Maybe some rich old dear died, and her naive beneficiaries have instructed the solicitors to dump the portfolio all in one go.

Even the most brainless of solicitor would know that dumping that many properties in one go is crazy. I do wonder if they're a portfolio disposal considering they're all listed with the same agent.

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Buying a property and converting it into a care home is very expensive these days due to all the rules and regulations, it would actually be cheaper to convert them into flats....

===========================

I think not.

There is a *huge* amount of money to be made

from the NHS caring for learning disability clients,

for example.

See Douglas Bannatyne's autobiography, he of

Dragon's Den.

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SECOND UPDATE 2/7/07 - OK THIS IS GETTING STUPID. IS EVERY FRIGGING HOTEL IN BOURNEMOUTH UP FOR SALE?????

Added in last 24 hours by Goadsby.

http://www.rightmove.co.uk/viewdetails-840...=1&tr_t=buy

42236_249641_IMG_00.jpg

£1,650,000

40 bedrooms

http://www.rightmove.co.uk/viewdetails-840...=1&tr_t=buy

awaiting_photograph.gif

£4,600,000

115 bedrooms

Imagine if the wilsons or dave wells decided to dump all their properties. [or they got repossessed - what a chain reaction!!!!]

Edited by notanewmember

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The portfolio dumped on the market is now worth £20 million

The latest addition is the biggest hotel with 115 bedrooms and is £4.6 million. These are big numbers indeed.

How many people do you know own a hotel ? Let alone 10+ hotels????

Also EVERYONE who works in these hotels could be vunerable to job losses if they are sold to new owners. Worrying.

Edited by notanewmember

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http://www.rightmove.co.uk/viewdetails-840...=1&tr_t=buy

FEATURES

One of Bournemouth's largest hotels. Extensive Conference and Banqueting facilities in 7 suites/syndicate rooms. 3 star rating. Site approaching 1½ acres. Quiet location convenient for sea front, town centre and business district. Indoor leisure suite. Heated outdoor swimming pool. Colour televisions, direct dial telephones, hairdryers and tea making facilities to letting rooms. Full gas fired central heating. 2 Passenger lifts. Civil Wedding licence. Disabled accessible with 13 ground floor bedrooms. Retirement sale after 22 year ownership.

From the largest hotel listing - I think it is someone defintely cashing in their chips! Mystery solved!

Grab yourself a cash generating bargain

Edited by notanewmember

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Lest we forget, 2 of the leading "spiv" EAs bailed this year:

http://www.ft.com/cms/s/54a9d5b6-9b98-11db...00779e2340.html

Property agent calls top of house market
By Matthew Richards
Published: January 4 2007 02:00 | Last updated: January 4 2007 02:00
A leading estate agent has called the top of the property market, claiming an influx of sellers "motivated by greed" is increasing the supply of homes for sale and creating a vicious circle that will send prices lower in 2007.

And Foxtons, of course.

IMO, the suckers trying to offload mass "investments" this late in the crash will get burned badly. Someone once said that it is unwise to try to time the market exactly. By trying to get that extra 10% return you can end up losing it all by waiting too long.

BTLers are now in the position of having to compete with other sellers rushing to escape. It will be a case of chasing the market down and having to discount more than the others to attract someone willing to catch a falling knife.

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Are you guys nuts? 1.3M for a 41 bedroom house?? £750 for an 11 bedroom??!! We wish!! That does not make sense... none of the houses that are being advertised make any sense. They are all BARGAINS. For £750 I dont expect more than 5-6 bedrooms. So if you think this is the beginning of the the crash then keep waiting as you all have been for the last few years. As long as people like me are happy to pay those prices you guys will continue to be left behind. And believe me... there is a generation out there who have accepted that houses cost several hundreds of thousands... certainly 7 figures for a 'very nice and decently big' house.. I know because I am part of that generation and as long as we continue to buy... prices will not crash.

As for the advertised houses below... we wish!! Property is not that cheap.

this is a shocker

i ll let the listings speak for themselves - not seen anything like it, all under the same agent....

42236_246647_IMG_00.jpg

http://www.rightmove.co.uk/viewdetails-824...=1&tr_t=buy

£1,300,000

41 bedrooms

42236_246219_IMG_00.jpg

http://www.rightmove.co.uk/viewdetails-823...=1&tr_t=buy

£2,100,000

58 bedrooms

42236_246572_IMG_00.jpg

http://www.rightmove.co.uk/viewdetails-824...=1&tr_t=buy

£1,300,000

38 bedrooms

for proof do a search under "BH1" postcode and set it to added in "last 14 days"

c'mon you russian oligarchs get your wallet out and buy a overpriced asset!

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Thats why i said grab yourself a cash generating bargain - the yeilds seem quite attractive, looking carefully at the incomes. Look this a ONE OFF SALE by someone whos held some of the most prestigeous [ok one is hideous] hotel businessess in bournemouth for 22 years.

Need to check if these are freehold - if they are they could be snapped up pretty quickly by developers. These are bargain prices. [will it drag the market down?]

Wish I had the money. ;)

Edited by notanewmember

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