ccc Posted June 10, 2011 Share Posted June 10, 2011 There's nowhere to put any belongings! The only conceivable use for that place that I can think of is as a pied a terre for somebody living in a real home elsewhere and working in Edinburgh during the week. And even then I'm struggling. You have been watching too much Sarah Beeney Quote Link to comment Share on other sites More sharing options...
EdinburghCrash Posted June 28, 2011 Share Posted June 28, 2011 OIEO £190,000 for a basement flat in Leith: http://www.findaproperty.com/displayprop.aspx?edid=00&salerent=0&pid=9172049 Quote Link to comment Share on other sites More sharing options...
ccc Posted June 28, 2011 Share Posted June 28, 2011 OIEO £190,000 for a basement flat in Leith: http://www.findaprop...t=0&pid=9172049 Looks pleasant enough - but 2 bed basement on Ferry Road ? 190k ? Lunacy. Quote Link to comment Share on other sites More sharing options...
nls Posted June 29, 2011 Share Posted June 29, 2011 This town house around the corner from us in Stockbridge had to be refurbished after a fire. It went on the market initially for £850,000. I laughed and thought that I'd keep an eye on it to see what happened. A couple of weeks ago it was down to offers over £750,000 and now it's fallen below £700k. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted July 3, 2011 Share Posted July 3, 2011 (edited) Not quite Edinburgh, but there is a new development near where I live. Walked past it the other day and thought it looked horrendous! Check out the price tag..........!!!!!!! http://www.rightmove.co.uk/property-for-sale/new-homes/property-22672871.html For some reason they've got close-up pics of kitchen taps and the park that is close by. Edited July 3, 2011 by guitarman001 Quote Link to comment Share on other sites More sharing options...
robmatic Posted July 4, 2011 Share Posted July 4, 2011 Not quite Edinburgh, but there is a new development near where I live. Walked past it the other day and thought it looked horrendous! Check out the price tag..........!!!!!!! http://www.rightmove.co.uk/property-for-sale/new-homes/property-22672871.html For some reason they've got close-up pics of kitchen taps and the park that is close by. Why would anyone spend that much on... that? Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted July 4, 2011 Share Posted July 4, 2011 Nealry half a mil (excluding interest over the term) and it's not even detached! The area is pretty scabby, nearby there are rumours of it being a dogging area (lol) - you get undesirables passing by to hang out in the park at night, right next to a main road (there was a crash there last week) - unbelievable. Price tag is astounding. Quote Link to comment Share on other sites More sharing options...
guitarman001 Posted July 4, 2011 Share Posted July 4, 2011 Jesus, just went for a walk around that area and would you believe... the place is still in development... but there seem to be 4-5 of them occupied already with cars in the 'drive'!! Complete suckers!! Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted July 6, 2011 Share Posted July 6, 2011 I’m just posting this as a single example of where real money is being lost on property (which ‘only ever goes up’) – this time on a top-end New Town flat. I just happened to notice that the property featured on the cover of the latest ESPC paper (7 July edition) has a reference number below 300000, suggesting that it has been on the market for a good long time. I looked it up using Property Bee and found that it has in fact been for sale since 17 January. The property is here: 7 Randolph Cliff, OIRO 650K The current owner says he has lived in the property four years, so I assume it is the one at 7 Randolph Cliff which changed hands on 29 May 2007 for £700,000. The Home Report valuation now is £700,000, but the flat is on the market for OA 650K. Assuming it sells for around that amount, it will still represent a real loss of about £50,000. It’s possible that this is back-of-the-sofa small change for the owner of a flat like this, but it’s still fifty thousand quid. Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted September 23, 2011 Share Posted September 23, 2011 Twigs-in-a-vase Central: 2 Thirlestane Road, OO 345K – click on Particulars towards the bottom of the page That’s £3,022 per square metre, which seems very steep, although in general the asking prices in the area are not that much lower. Two shower rooms, but not a bath in the whole place. There also seems to be a dishwasher immediately below the hob – never seen that arrangement before! Quote Link to comment Share on other sites More sharing options...
qwerty1984 Posted September 23, 2011 Share Posted September 23, 2011 Twigs-in-a-vase Central: 2 Thirlestane Road, OO 345K – click on Particulars towards the bottom of the page That’s £3,022 per square metre, which seems very steep, although in general the asking prices in the area are not that much lower. Two shower rooms, but not a bath in the whole place. There also seems to be a dishwasher immediately below the hob – never seen that arrangement before! Well they're marketing it through Strutt & Parker so they obviously think its a cut above your average flat Looking at the layout I'm intrigued-where did the bathroom use to be? There must have been one but neither of the shower rooms look big enough and all the bedrooms look too big! Quote Link to comment Share on other sites More sharing options...
Muswell Hillbilly Posted September 23, 2011 Share Posted September 23, 2011 Well they're marketing it through Strutt & Parker so they obviously think its a cut above your average flat Looking at the layout I'm intrigued-where did the bathroom use to be? There must have been one but neither of the shower rooms look big enough and all the bedrooms look too big! Maybe Strutt & Parker are becoming the experts in marketing hideous conversions of elegant tenement flats. Look at the floorplan of this six-bedroom monstrosity. One big room has been butchered by having a small windowless kitchen squashed into it, while another big rectangular room has been chopped in two with a weird-shaped wall. Also there is no way it is 189 m² – that would make it ‘only’ £2,295/m² – but I can’t be bothered to work out what its actual area is. Clearly its only target market is HMO landlords, but I doubt the numbers would add up, even if you could find takers for ‘bedrooms’ 2, 3, 5 and 6. Shame on our city council for granting planning permission for this abomination. Quote Link to comment Share on other sites More sharing options...
robmatic Posted September 26, 2011 Share Posted September 26, 2011 Maybe Strutt & Parker are becoming the experts in marketing hideous conversions of elegant tenement flats. Look at the floorplan of this six-bedroom monstrosity. One big room has been butchered by having a small windowless kitchen squashed into it, while another big rectangular room has been chopped in two with a weird-shaped wall. Also there is no way it is 189 m² – that would make it ‘only’ £2,295/m² – but I can’t be bothered to work out what its actual area is. Clearly its only target market is HMO landlords, but I doubt the numbers would add up, even if you could find takers for ‘bedrooms’ 2, 3, 5 and 6. Shame on our city council for granting planning permission for this abomination. That is horrific. It was presumably a handsomely proportioned flat before. A 5% gross yield on the OO price would require an achieved rental of £1800pm. So, the average monthly rent would be £300 per room when 4 of them are singles? If our current students will cough that up they are dafter than I thought! Even then I think a 5% gross yield is nowhere near enough given HMO hassles and letting agency fees and likely mortgage costs. Perhaps if you had a lot of cash it wouldn't be terrible in terms of return, but you would have to have a severe distrust of financial advice. Quote Link to comment Share on other sites More sharing options...
TTD Posted September 26, 2011 Share Posted September 26, 2011 £2295 per sq metre, eh? Trumped. http://beta.espc.com/properties/details.aspx?pid=306317 Four beds, including Utility, En-Suite and Bathroom I make it around 120 sq m - with an asking price of £650,000, that's over £5,400 per sq metre...... Quote Link to comment Share on other sites More sharing options...
ccc Posted September 27, 2011 Share Posted September 27, 2011 £2295 per sq metre, eh? Trumped. http://beta.espc.com...aspx?pid=306317 Four beds, including Utility, En-Suite and Bathroom I make it around 120 sq m - with an asking price of £650,000, that's over £5,400 per sq metre...... That is proper Chelsea pricing in Gullane FFS ?! Some people are quite simply mental. Quote Link to comment Share on other sites More sharing options...
TTD Posted September 27, 2011 Share Posted September 27, 2011 (edited) That is proper Chelsea pricing in Gullane FFS ?! Some people are quite simply mental. No doubt they've taken the flats in North Berwick as a precedent..... 3 beds for £656,000! 'Only' £3700 per sq m.... Edited September 27, 2011 by TTD Quote Link to comment Share on other sites More sharing options...
ccc Posted September 27, 2011 Share Posted September 27, 2011 No doubt they've taken the flats in North Berwick as a precedent..... 3 beds for £656,000! 'Only' £3700 per sq m.... Insane. Quote Link to comment Share on other sites More sharing options...
TTD Posted September 29, 2011 Share Posted September 29, 2011 £650,000 for the 4-bed flat mentioned above, yet a couple of miles along the coast, you can get this 5-bed, 6 bathroom detached house for just a little more..... Quote Link to comment Share on other sites More sharing options...
InlikeFlynn Posted September 29, 2011 Share Posted September 29, 2011 £650,000 for the 4-bed flat mentioned above, yet a couple of miles along the coast, you can get this 5-bed, 6 bathroom detached house for just a little more..... or a bit further on still you get this http://www.rightmove.co.uk/property-for-sale/property-34351190.html Quote Link to comment Share on other sites More sharing options...
TTD Posted September 29, 2011 Share Posted September 29, 2011 or a bit further on still you get this http://www.rightmove.co.uk/property-for-sale/property-34351190.html Exactly.... Quote Link to comment Share on other sites More sharing options...
ccc Posted September 29, 2011 Share Posted September 29, 2011 £650,000 for the 4-bed flat mentioned above, yet a couple of miles along the coast, you can get this 5-bed, 6 bathroom detached house for just a little more..... And membership ( I think) to a couple of quality golf courses. Quote Link to comment Share on other sites More sharing options...
ccc Posted September 29, 2011 Share Posted September 29, 2011 4,500 per sq metres. And people wonder why I always go on about Edinburghs prices, whilst not quite up to London prices, being completely ******ing mental ESPC Quote Link to comment Share on other sites More sharing options...
TTD Posted September 30, 2011 Share Posted September 30, 2011 4,500 per sq metres. And people wonder why I always go on about Edinburghs prices, whilst not quite up to London prices, being completely ******ing mental ESPC Fixed Price £475,000 and only 3 pictures? Quote Link to comment Share on other sites More sharing options...
ccc Posted September 30, 2011 Share Posted September 30, 2011 Fixed Price £475,000 and only 3 pictures? It's the address that sells darrrrlinnnggg On a more serious note - I know a couple of people who will simply spend as much as they possibly can on a place - even if it means they are in much more debt that needs be. And they still want to do it even today ?! Not the majority - but there are still people out there who want to plunge every single penny they have into a 'nice' house they can show off to their pals. Up to them I suppose. I just find it very strange. Quote Link to comment Share on other sites More sharing options...
Deleriad Posted September 30, 2011 Share Posted September 30, 2011 That is horrific. It was presumably a handsomely proportioned flat before. A 5% gross yield on the OO price would require an achieved rental of £1800pm. So, the average monthly rent would be £300 per room when 4 of them are singles? If our current students will cough that up they are dafter than I thought! Even then I think a 5% gross yield is nowhere near enough given HMO hassles and letting agency fees and likely mortgage costs. Perhaps if you had a lot of cash it wouldn't be terrible in terms of return, but you would have to have a severe distrust of financial advice. £300 to £350 pcm tends to be the going rate for single rooms for student flats (4-6 bedroom) in the southside area. That's generally students going to Edinburgh University. You can get cheaper but there's usually a reason if it's less than £250. That flat is in prime student land. Quote Link to comment Share on other sites More sharing options...
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