London’s ‘cheapest house’ sells for £661,000 — despite viewer choking on the smell
London’s ‘cheapest house’ sells for £661,000 — despite viewer choking on the smell
Posted by nimobo
London’s ‘cheapest house’ sells for £661,000 — despite viewer choking on the smell
London’s ‘cheapest house’ sells for £661,000 — despite viewer choking on the smell
Posted by nimobo
11 Comments
They aren’t buying the house. It is largish plot of land, half an hour from central London. They will knock it down and build something new, like the one next door.
You’re predominantly paying for the land and location with a decrepit property like this. It’s really no different from a house in good condition being much more expensive in London than an identical property in Backwater- on-sea – all the difference in cost is location. Whoever paid up reckons they can renovate and sell for a healthy profit. I wouldn’t be surprised if they plan to put four flats on the plot.
If its £661000 its not london’s cheapest house, is it?
Here’s the answer, nestled right at the end of the article:
>Burnip called the figure ‘mindboggling’, but the final sale price of £661,000, was even more shocking, suggesting this wasn’t just a purchase of bricks and mortar, but a strategic bet on the underlying land and location rather than the property’s decrepit state.
Writing an entire article based on a youtube video may be a new low for Metro journalism
I’ve walked past this one a few times and wondered how bad it must be inside. Shame as it must once have been a stunning mansion. It’s only a short walk to 2 railways stations and you could get to London Bridge in half an hour. I suspect it will be pulled down and replaced with a block of flats and / or a massive new house.
How are you defining London and house here? I’ve seen places for cheaper than this.
Down it goes and up a 10/11/12 bedroom HMO appears with a shared kitchen the size of a box room
“Would you pay £661,000 for this home?”
Dam I wish I did. Throw 200k renovations at the house, downstairs extension to make a big kitchen living space easily worth over a million.
Quick look on rightmove, 5 to 6 beds ranging from £1m to £1.5m and this thing is a 10 bed mansion.
Tommy Walsh and Dion Dublin could do a job on that for about 50k. New grey carpets, some grey paint, a few fire extinguishers to comply with regs, rent it out to 10 professional couples. Easy money.
If you wanna see the full house, I think it’s the one wandering turnip. It’s worse than it sounds. Genuinely a biohazard.