Million Pound Properties

[Adam B]

Surprised there is no thread on this yet, think it is a short series - and it should get the anti-Londoners foaming at the mouth

Usual dumbed down yoof presentation and "characters" although interesting (for me) to see what is available for that sum up north and in Scotland

only 10 mins in so will post again, any watched it?

[droopsnoot]

I recorded it because I thought it was similar to the recent one about estate agents, but it annoyed me so much in the first few minutes I didn't see any more than that.

[Adam B]

Usual collection of weirdos with bad taste and estate agents set up to be laughed at.

Would have been interesting to hear what it costs to run/heat this great mansions in the North/Scotland

[Greshamst]

Just watched episode 2. The trust fund girl was absolutely ridiculous.

My highlights were
"so, what do people who haven't been given an inheritance do, how do they buy a house?" - when her friend had to explain to her what a mortgage actually was.

And when considering to buy a £1m property
Girl - "i'll need to check the living room again, i'm not sure if my TV will fit"
Estate Agent - "You'd base a property purchase on the size of your existing tv?"
Girl - "It's a really big TV"
Estate Agent "Couldn't you buy a new one?"
Girl - "It was expensive"

I can't imagine it was more than 0.4% of the house price.

[Adam B]

She was a typical brain-dead Fulham rich girl

but I doubt her TV cost £4,000

[samboii]

The Estate Agent asked the ridiculous Trust Fund idiot to use her imagination on the Fulham flat.... he was brave...

[iphonedyou]

Adam B said:

She was a typical brain-dead Fulham rich girl

but I doubt her TV cost £4,000

Fulham girls though.

[FourWheelDrift]

I think I turned over at the house viewing they had. Air-headed orange waste of space.

[AndyWoodall]

Generally in life I have upmost respect for the hard work or fortune that means some people can afford really amazing properties or life styles, but I struggled with her.

The friend explaining how normal people buy houses was amazing.

[Adam B]

iphonedyou said:

Fulham girls though.

Ha! I look forward to bumping into her in the White Horse sometime

[surveyor]

I was curious to see the value of the long (or not so long lease). Not many left them go that far - and know you know why!

[dontfollowme]

surveyor said:

I was curious to see the value of the long (or not so long lease). Not many left them go that far - and know you know why!

Was the £600K to extend the lease back to 90 years accurate?

[chibbard]

What I found interesting about the flat with the short lease was that the council could leave it 19 years, take possession of the property again and sell it again for over a million quid.

[surveyor]

dontfollowme said:

surveyor said:

I was curious to see the value of the long (or not so long lease). Not many left them go that far - and know you know why!

Was the £600K to extend the lease back to 90 years accurate?

Not the foggiest as a) it depends on ground rents, and values in the area - looking at the difference between value now and after lease extension, splitting the difference and b) I've not looked at Long Leasehold extensions since University.

Enfranchisement would be an interesting option, and may reduce the cost if enough people can afford to buy the freehold. I would not be surprised if there is an exemption for Local Authority/Housing Trust Landlords in that act though.

[Adam B]

dontfollowme said:

Was the £600K to extend the lease back to 90 years accurate?

went on the council website as I was shocked, it only does online estimates up to 50 years but that was estimated £180-200k

[surveyor]

Adam B said:

dontfollowme said:

Was the £600K to extend the lease back to 90 years accurate?

went on the council website as I was shocked, it only does online estimates up to 50 years but that was estimated £180-200k

I think the combination of only 19 years and prime london residential is key. I'd expect substantially more than £180-£200k

[Adam B]

surveyor said:

I think the combination of only 19 years and prime london residential is key. I'd expect substantially more than £180-£200k

that was a 50 year extension, they extend to 125 so yes, 106 years extension will be more than double that

[FourWheelDrift]

Watched the one last night with the founder of Poundland and his "considerably richer than yow" brummie wife. Appallingly tacky interior of their current place Hammer Hill House - http://www.rightmove.co.uk/property-for-sale/prope...

They went to look at the lovely Caverswall Castle - http://www.rightmove.co.uk/property-for-sale/prope...

Unsurprisingly she didn't like it. Then they went and looked at a modern, white, bland Wentworth-style house and liked it.

[TEKNOPUG]

FourWheelDrift said:

Watched the one last night with the founder of Poundland and his "considerably richer than yow" brummie wife. Appallingly tacky interior of their current place Hammer Hill House - http://www.rightmove.co.uk/property-for-sale/prope...

They went to look at the lovely Caverswall Castle - http://www.rightmove.co.uk/property-for-sale/prope...

Unsurprisingly she didn't like it. Then they went and looked at a modern, white, bland Wentworth-style house and liked it.

Blimey they are cheap! They'd be 5/6 times that price in my neck of the woods.

[Greshamst]

Well that episode was full of a lot of bad taste in things. I've only watched half, but it seemed to be full of people that loved mentioning Laboutins, and tacky LED lights everywhere. That Scottish woman's glass jewellery cabinet with backlighting looked like it would be more at home as a display case for arcade machine prizes.