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I like the bit which says that 98% of buyers were buy-to-let 'investors'. Serves 'em right I say.

I don't know about 'Serves 'em right'. They haven't necceserally done anything wrong - unless they lied to get a mortgage...

I just hope that these people somply put it down to experience and get on with life. They took a punt and lost. End of.

I suspect however, that we are going to be subjected to years of self-pitying whinging and whining from the stupid feckers!

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I don't know about 'Serves 'em right'. They haven't necceserally done anything wrong - unless they lied to get a mortgage...

I just hope that these people somply put it down to experience and get on with life. They took a punt and lost. End of.

I suspect however, that we are going to be subjected to years of self-pitying whinging and whining from the stupid feckers!

Well apart from using their financial position to mortgage the income of other people and in so doing

help to further price out a generation of young british people, no, i suppose not.

.

I will lend them a cardboard box (at interest) if it all goes t1ts.

.

There's a place for landlords in the housing ecosystem but they should never be able to get a mortgage.

.

ST

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In October 2005 flat hunters queued for 24 hours to snap up apartments at the Rotunda in just 20 minutes, with the landmark development completely selling out on the first day of launching to the open market.

Prices ranged from £150,000 to £400,000, but Mr Mckeon said values at the Rotunda had plummeted by an average of £25,000 since the autumn of 2005.

Another Birmingham mortgage expert said of the Rotunda crisis: "Some rents have reduced to around £480, but they are not even moving at that price, parking being a key issue.

Nobody's renting them because nobody wants them. They were never worth the stupid prices they were "snapped up" for.

Bad business deals = lost money. Get the ****** over it.

</beingallhighandmighty>

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Nobody's renting them because nobody wants them. They were never worth the stupid prices they were "snapped up" for.

Bad business deals = lost money. Get the ****** over it.

</beingallhighandmighty>

Anyone remember the video news clip taken on 'selling day' where the Asian guy shouted that the Rotunda was 'the new rock and roll!'?

'Reelin' and Rockin' seems an appropriate bit of Chuck Berry here....

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Anyone remember the video news clip taken on 'selling day' where the Asian guy shouted that the Rotunda was 'the new rock and roll!'?

No, but can someone please post the link to the b3ta.com site and their old flash video archive that includes a Birmingham promo? I'm net-nannied here (site full of undesirables?).

I use the word "promo" in its broadest possible sense.

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I like the bit which says that 98% of buyers were buy-to-let 'investors'. Serves 'em right I say.

http://www.bbc.co.uk/birmingham/content/ar...e_feature.shtml

Seems like there were 232 apartments. If 98% were BTL that leaves 5 owner occupiers. I hope they get on with each other.

One lucky couple in the news link missed out and were put on the waiting list. I wonder if the list still exists.

Y

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It’s unfortunate that this building is going to become like many other city centre flats/apartments because it is an iconic building and from what I can see Urban Splash have done a good job developing it. Still about 50% overpriced though!

I wonder how many of the original 2005 buyers have flipped already.

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I don't know about 'Serves 'em right'. They haven't necceserally done anything wrong - unless they lied to get a mortgage...

The article did mention a "20 minute buying frenzy" in which all the flats were sold.

When you compare this to the high prices and the miniscule wedge-shaped dimensions, you can imply that the buyers were guilty of stupidity at least.

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i went up the rotunda last saturday afternoon as part of the residential lettings' group open day.

20th floor balcony was quite nice (incredibly vertiginous!) but it ate into the living space, so even the £2k pcm 2-bed 2-bath place (£450k?! was poky).

saw other appt types as well, and they're obviously tiny.

only residents i saw were a couple of twenty-somethings with cans of guinness in their arms at 13.00 on a saturday...

nice city views, but that novelty lasted around 10 mins.

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Check this thread out...

http://www.housepricecrash.co.uk/forum/ind...tunda&st=15

I have been keeping track on the Rotunda over the last month since the flats were released.

The rents people are asking for are falling through the floor. Starting to see the odd one for sale come onto the market, and then being reduced.

The building is the biggest white elephant ever.

As someone said.....shortage of housing my ****.

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I love brum don't care what any of you sniping, snooty, southern softies say, I took these shots the other night from my rented penthouse apartment with private terrace in brum,, see it aint to bad folks. If you catch birminghams skyline on a nice summers evening with a sunset, a warm breeze and a bottle or two of vino and you could almost say romantic.

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Guest Bart of Darkness
The owners, who bought their iconic properties in a frenzied 20-minute spending spree, are now trying to sell up because they are already thousands of pounds out of pocket.

Never mind, "It's got the X factor; it's iconic; it's THE address in Birmingham. I feel rock 'n' roll when I see the Rotunda!"

Poor Tav, the only rock 'n roll he'll be feeling now is the unsteady bumpity bump of his finances.

But there's a shortage of supply...........

Have we reached "Peak Idiots" so soon? :o

</beingallhighandmighty>

:lol:

Anyone remember the video news clip taken on 'selling day' where the Asian guy shouted that the Rotunda was 'the new rock and roll!'?

Why do fools fall in love.... with scams like this.

Richard Lishman was celebrating becoming the proud father of son Max, and becoming the proud owner of of a Rotunda apartment. Richard purchased an apartment with his wife and friends as an investment;

richard_lishman_and_max_203_203x152.jpg

Sad, very sad.

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It's unfortunate that this building is going to become like many other city centre flats/apartments because it is an iconic building and from what I can see Urban Splash have done a good job developing it. Still about 50% overpriced though!

I wonder how many of the original 2005 buyers have flipped already.

The builders and developers have got their money. It would great if these all ended up social housing paid for by geared betting and Bank losses.

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