Show us your real estate pawn (vol 2)
Discussion
Harry Flashman said:
The interior "design" is spectacularly hideous.
Yeah, I guess I was trying to be polite 
I'm actually surprised that they're having trouble shifting it, given all the publicity and targetted marketing they did. I thought it would have sold off plan. Maybe the generic interior design is actually part of the problem. If you're going to buy a generic apartment in a capital city, you are spoilt for choice with lots of other generic apartments in other capital cities, and you are going to compare prices per square metre, at which point this one starts to look seriously overpriced - and maybe the fancy address and Candy Brothers brand isn't enough to save it...
AmitG said:
Yeah, I guess I was trying to be polite
I'm actually surprised that they're having trouble shifting it, given all the publicity and targetted marketing they did. I thought it would have sold off plan. Maybe the generic interior design is actually part of the problem. If you're going to buy a generic apartment in a capital city, you are spoilt for choice with lots of other generic apartments in other capital cities, and you are going to compare prices per square metre, at which point this one starts to look seriously overpriced - and maybe the fancy address and Candy Brothers brand isn't enough to save it...
One Hyde Park has been for sale for ages and is largely empty. The two penthouse apartments, 1 is featured above, were sold way below the asking price (oringially circa. 120 million iirc) and iirc one was sold to one of the Candy brothers and the other to a wealth Arab. One of these was sold unfinished and for around 20-30 million - according to the land registry. I'm actually surprised that they're having trouble shifting it, given all the publicity and targetted marketing they did. I thought it would have sold off plan. Maybe the generic interior design is actually part of the problem. If you're going to buy a generic apartment in a capital city, you are spoilt for choice with lots of other generic apartments in other capital cities, and you are going to compare prices per square metre, at which point this one starts to look seriously overpriced - and maybe the fancy address and Candy Brothers brand isn't enough to save it...
One Hyde Park made the headlines in the real estate world as it was the first complex to hit the 10,000/sqft price range, making the smallest property in the complex, a 1000 sqft apartment retail for 10m.... well that was the plan anyway.
The problem here was simply the price. It was and still is ludicrous when compared to properties in the area, it really was laughable and difficult to keep a straight face in their sales department. We spoke with many clients about this property but the value and potential upside simply wasn't there at all.
I used to have the marketing material they produced - it weighed a ton, and was beautifully (as expected) produced but the product didn't appeal and with the Candy brothers other big mistake(s) in real estate really put buyers off.
For me there's always the difference between a home that someone has created at whatever cost they've spent, and an interior-designed profit vessel. One Hyde Park is firmly in the latter for me, and I suspect it puts buyers off. it's very hard to buy character on a new build at any cost.
toohuge said:
AmitG said:
Yeah, I guess I was trying to be polite
I'm actually surprised that they're having trouble shifting it, given all the publicity and targetted marketing they did. I thought it would have sold off plan. Maybe the generic interior design is actually part of the problem. If you're going to buy a generic apartment in a capital city, you are spoilt for choice with lots of other generic apartments in other capital cities, and you are going to compare prices per square metre, at which point this one starts to look seriously overpriced - and maybe the fancy address and Candy Brothers brand isn't enough to save it...
One Hyde Park has been for sale for ages and is largely empty. The two penthouse apartments, 1 is featured above, were sold way below the asking price (oringially circa. 120 million iirc) and iirc one was sold to one of the Candy brothers and the other to a wealth Arab. One of these was sold unfinished and for around 20-30 million - according to the land registry. I'm actually surprised that they're having trouble shifting it, given all the publicity and targetted marketing they did. I thought it would have sold off plan. Maybe the generic interior design is actually part of the problem. If you're going to buy a generic apartment in a capital city, you are spoilt for choice with lots of other generic apartments in other capital cities, and you are going to compare prices per square metre, at which point this one starts to look seriously overpriced - and maybe the fancy address and Candy Brothers brand isn't enough to save it...
One Hyde Park made the headlines in the real estate world as it was the first complex to hit the 10,000/sqft price range, making the smallest property in the complex, a 1000 sqft apartment retail for 10m.... well that was the plan anyway.
The problem here was simply the price. It was and still is ludicrous when compared to properties in the area, it really was laughable and difficult to keep a straight face in their sales department. We spoke with many clients about this property but the value and potential upside simply wasn't there at all.
I used to have the marketing material they produced - it weighed a ton, and was beautifully (as expected) produced but the product didn't appeal and with the Candy brothers other big mistake(s) in real estate really put buyers off.
toohuge said:
One Hyde Park has been for sale for ages and is largely empty. The two penthouse apartments, 1 is featured above, were sold way below the asking price (oringially circa. 120 million iirc) and iirc one was sold to one of the Candy brothers and the other to a wealth Arab. One of these was sold unfinished and for around 20-30 million - according to the land registry.
One Hyde Park made the headlines in the real estate world as it was the first complex to hit the 10,000/sqft price range, making the smallest property in the complex, a 1000 sqft apartment retail for 10m.... well that was the plan anyway.
The problem here was simply the price. It was and still is ludicrous when compared to properties in the area, it really was laughable and difficult to keep a straight face in their sales department. We spoke with many clients about this property but the value and potential upside simply wasn't there at all.
I used to have the marketing material they produced - it weighed a ton, and was beautifully (as expected) produced but the product didn't appeal and with the Candy brothers other big mistake(s) in real estate really put buyers off.
close, but not correct at all regarding your sales InfoOne Hyde Park made the headlines in the real estate world as it was the first complex to hit the 10,000/sqft price range, making the smallest property in the complex, a 1000 sqft apartment retail for 10m.... well that was the plan anyway.
The problem here was simply the price. It was and still is ludicrous when compared to properties in the area, it really was laughable and difficult to keep a straight face in their sales department. We spoke with many clients about this property but the value and potential upside simply wasn't there at all.
I used to have the marketing material they produced - it weighed a ton, and was beautifully (as expected) produced but the product didn't appeal and with the Candy brothers other big mistake(s) in real estate really put buyers off.
your data about two of the penthouses was true, but it was part of the deal not a sign of the market,
nick C got his for something like £30m shell and core (it's the one closest to the hotel) and resold it this year for just below £150m , it's a great story about the new buyer but prob best not published
nick is also about to step down I hear, with Christian coming back to run things now they are focusing on mezz, serviced offices etc
also they finally sold Chesham place last month for £41m
nick C got his for something like £30m shell and core (it's the one closest to the hotel) and resold it this year for just below £150m , it's a great story about the new buyer but prob best not published
nick is also about to step down I hear, with Christian coming back to run things now they are focusing on mezz, serviced offices etc
also they finally sold Chesham place last month for £41m
This would do me nicely, not many other houses out there with their own pillbox!
http://www.zoopla.co.uk/for-sale/details/34019311?...
http://www.zoopla.co.uk/for-sale/details/34019311?...
SunsetZed said:
This would do me nicely, not many other houses out there with their own pillbox!
http://www.zoopla.co.uk/for-sale/details/34019311?...
fantastic holiday house! http://www.zoopla.co.uk/for-sale/details/34019311?...
There used to be 3.75 million reasons, very close to the M2.
https://www.google.co.uk/maps/@51.3018117,0.832391...
https://www.google.co.uk/maps/@51.3018117,0.832391...
Also, it isn't finished yet:
Advert said:
Works are still ongoing at the property with the purpose of bringing the house to 90% completion which will allow the buyer to design and specify the final 10% by way of arrangement with the current construction company or with the buyer appointing their own designer and contractors.
So you are buying a project not a completed house. Sounds like the original owners have run out of money and are trying to get out with some profit, but not having much luck.Gassing Station | Homes, Gardens and DIY | Top of Page | What's New | My Stuff