It’s gone for around £26m, which translates to £7,000 a square foot, a 2015 record. The buyer (or flipper) will, or won’t, get three bedrooms over two floors, a roof terrace, screening room, servants quarters and car parking spaces. Completion is expected in 2016. More here.
It’s all happening in court. On the one hand.. a former Goldman Sachs partner, living yards away in a £10m mansion and the new owner of the freehold on the mews house, trying to kick his geriatric tenants out into the street after they’ve lived there for more than 50 years, enjoying reduced rental rates on a statutory tenancy. On the other, (apparent) video evidence that the elderly couple (a retired lawyer and his wife), have been living the high-life in their second home Dorking, while keeping the central London property on for jollies while it’s cheap. Ugly. And only in London. Full story here.
From 1.5% just four months ago to 4.7%, based on an increasing scarcity of available homes. The forecast follows a report by Rightmove showing available properties down 10.6% on the year, and enquiries up 22%.
In a very interesting piece, the Guardian explains the historical background to a demonstration in Norton Folgate - linking Bishopsgate to Shoreditch High Street - in which 500 people turned up on Sunday to join hands in symbolic protest of plans to demolish and rebuild. In the 18th Century, the area received a legal “freedom” from the City, a kind of independence. In the 1970s, it survived a clash with British Land, thanks to a campaign that featured contributions from Dan Cruikshank and John Betjeman. Now, whether it survives in the face of pressure to build more high-rise “perfume bottles”, is being seen as a symbol of a battle for the very identity of the capital. Read it here.
Lord Sugar is said to have hired Kelly Hoppen to design a couple of apartments located in Bennet House, on the corner of St James’s Street and Bennet Street. Estimated price guides? Somewhere between £7m and £10m.
We’re talking about Harrison Sellars, and the strange case of the £43.4m W12 end-terrace, the £6.6m three-bedroom terrace in Wandsworth, the £4m two-bedroom Stockwell flat and the Norwood terraced house featuring “local drug dealers close by”.
It’s in Barton Le Clay in Bedfordshire, in four acres, with outbuildings including a rented barn annex bringing in £10k a year, and it’s the country house that inspired Blur’s Country House. The story is that Flood label owner David Balfe moved to the property after selling his label to EMI in 1994, prompting Damon Albarn to write the hit. Particulars here.
When’s a non-dom not a non-dom? When they’ve been in the country for 15 of the past 20 years. A curb in tax relief is likely - according to those who sell them - to affect the prices of high-end residential properties. Meanwhile, in letting, a reduction in tax relief for buy-to-let landlords, due for implementation in two years could, again according to those in the industry, combine with increasing interest rates to form a perfect storm, wiping out landlords’ profits. The result? Properties thrown on to the market, risking negative equity for homeowners? Rising rents? Finally, new inheritance tax bands effectively ending the tax on a property worth up to £1m (and owned by a married couple) was brought in in response to rising house prices. Worries include even more restricted market supply, as people hold onto properties for longer.
It’s Flat 24, in the Royal Victoria Patriotic Building, Wandsworth Common. Four bedrooms, three bathrooms, off-street parking, games room and glorious vaulted ceilings have previously been enjoyed by Rudolph Hess (before the place was separated into flats) and a member of Duran Duran. More here (and note the picture caption, helpfully distinguishing Hess from Simon Le Bon).
This kind of article always puzzles me. Yes, Emma Freud obviously has a right to move wherever she wants, rent her house out for the most money she can get and note the eccentricities and foibles of prospective tenants. She’s a witty and elegant writer, too. But who at the Telegraph thought it would be a good idea to present this piece as a “plight of the first-time landlord” column? Note the sympathy in the comments section.