Saturday, Nov 04, 2006

600 FLATS LEFT EMPTY IN CITY CENTRE

Nottingham Evening Post: CITY LIVING: 600 FLATS LEFT EMPTY

A report from Nottingham City Council has revealed that 15% of the flats are vacant-a further 3,795 "luxury" apartments are still being built - or are set to be built.

Posted by ob @ 11:09 AM (390 views)
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5 Comments

1. Paul said...

I've seen very similar in Docklands. Newly built (less than 5 years old) apartment blocks with no occupants. I'm guessing that the cost of buying is too high relative to rental yield and the cost of the development is too high for the developer to consider knocking it down for office space. In fact, there's lots of vacant office space in the city right now - walk from St Pauls through the Barbican to Farrigndon and you'll see far too many "To Let" signs.

A presage for an almighty crash I'd say.

Saturday, November 4, 2006 07:18PM Report Comment
 

2. paul said...

I've seen very similar in Docklands. Newly built (less than 5 years old) apartment blocks with no occupants. I'm guessing that the cost of buying is too high relative to rental yield and the cost of the development is too high for the developer to consider knocking it down for office space. In fact, there's lots of vacant office space in the city right now - walk from St Pauls through the Barbican to Farrigndon and you'll see far too many "To Let" signs.

A presage for an almighty crash I'd say.

Saturday, November 4, 2006 07:19PM Report Comment
 

3. Mjchum said...

Talking about empty property (commercial this time), has anyone noticed the development on the M4 (east bound side), I guess somewhere between Swindon and Newbury. It's called Green Park and has a very large (probably 0.75MW) wind turbine. Whilst stuck in the usual Monday morning semi-mobile car park, I have noticed that the large glass fronted offices have never been ouccupied? I may be wrong, but there does seem to be very little activity.

Saturday, November 4, 2006 11:05PM Report Comment
 

4. Nohpc said...

Docklands has got a lot of empty flats I have heard. Seems to be the only area in London with this problem. I'm surprised property values haven't dropped a bit there to compensate. I suppose they will be happy to hang onto them until the olympics.

Sunday, November 5, 2006 05:55AM Report Comment
 

5. waitingfor hpc said...

same in Tunbridge Wells - Over 400 flats for sale and not many buyers.....

Monday, November 6, 2006 08:52AM Report Comment
 

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