Thursday, Nov 05, 2015

"November 2015 we'll be millionaires" "Lovely Jubbly!

BBC: Peckham pre-fab 'shed' auctioned for £1m

A pre-fabricated property dubbed a "shed" in south-east London has been auctioned off for just under £1m. The 1950s bungalow situated on 0.6 acres of land in Peckham contains three rooms, a kitchen and unfitted bathroom. Described as "dilapidated", Southwark Council said it was "extremely pleased" it sold for £950,000. The property is not thought to have been lived in since 2002.

Posted by jack c @ 11:25 AM (4788 views)
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1. mombers said...

It's not the shed that has been sold for 1m, it's the land. The lucky buyer will be able to build 4m worth of housing on the plot. It's a disgrace that this valuable public asset has been lost forever as such a low price like this. Surely the least that they could have done is sold a 99 year lease?

Thursday, November 5, 2015 01:54PM Report Comment

2. jack c said...

Extract from

"But the loudest silence surrounds the issue of property taxes. The most expensive flat in that favourite central London haunt of the international super-rich, One Hyde Park, cost 135m. The owner pays 1,369 in council tax, or 0.001% of its value. Last year the Independent revealed that the Sultan of Brunei pays only 32 a month more for his pleasure dome in Kensington Palace Gardens than some of the poorest people in the same London borough. A mansion tax slapped down by David Cameron in October is only the beginning of what the owners of such places should pay. For the simplest, fairest and least avoidable levy is one that the major parties simply will not contemplate. It's called land value tax.

The term is a misnomer. It's not really a tax. It's a return to the public of the benefits we have donated to the landlords. When land rises in value, the government and the people deliver a great unearned gift to those who happen to own it"

Friday, November 6, 2015 11:19AM Report Comment

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