UK Landlord Forum / Life

Now this is what im talking about in my post yesterday regarding house prices going up 3 fold in relation to wages.ok this is on the extreme and although an interesting read it just makes my point a little clearer.

A prestigious property that sold for £32 million in June is back on the market for an asking price believed to be in the region of £75 million.

Witanhurst, a 90-plus room mansion in Highgate, North London, where the Queen once played as a girl and which was once the subject of a conservation campaign led by Sir John Betjeman, remains in need of substantial repair work.

The Grade II* Queen-Anne style house sits in five acres. It was built in 1913 on the site of a Georgian pile. It played host to Fame Academy, the TV talent show, and has been the backdrop for dramas such as Nicholas Nickleby, Tipping the Velvet and The Lost Prince.

This guy brought the place wanting to make it into a 150mil pad back in June 07, but he has had second thoughts now as another project has come up that he wants to do, so he has put the place back on the market for 75m.  It is still in its origanal state when he brought it which makes it even worse.
Pfag you wanted a joint venture, i think i have found it mate


Badger

Sounds like if he achieves his sale at that price the money will already have been made out of it.

London prices are the most inflated in the country.

I'm still waiting to go into business with you, Badgey!

We could be millionaires!

badgy thats rediculous. Setting the price so high without having done n e thing to increase its value. Either he's really stupid or a Genius (in the making).


As for doing business with badgy, i'm sure you'll get rich faggy.

Just an update on this story...



The news, almost exactly a year ago to the day, was of Marcus Cooper's £32m purchase of Witanhurst, Highgate's 65-room West Hill mock-Georgian mansion, and plans to do it up and sell it on for an estimated £150m. By September, the talk was of a flip, for £75m.

Those were the days... the days of 234% profit in less than two months. How things have changed. The news, today, at last, found a buyer, and has been picked up, for £50m, by Russia's first richest woman, Elena Baturina.

I guess it didn't exactly go to plan for that developer. Guess he shouldn't have been so dam greedy ha!

full story here