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I'm sure it is but when you can buy a three bed detached house within 1/4 mile for £200k, the demand for big flats at the same price aren't exactly going to be high.
I've no doubt there's money to be made, just not convinced by anything that GBD was talking about
I understand that. I never suggested that they could fetch £200,000. But I was just letting you know that it was not a scruffy area:D
I'm sure it is but when you can buy a three bed detached house within 1/4 mile for £200k, the demand for big flats at the same price aren't exactly going to be high.
I've no doubt there's money to be made, just not convinced by anything that GBD was talking about
No need to be embarrassed. These were just off-the-wall, sample, figures. To give an idea of what any developer will be thinking about - and don't forget that the developer will be looking to make a decent profit too. I've never built a block of flats, so you may be right about building costs. To get top money, though, the block would need a lift and to be built to a good standard.
No reliance should be placed on the above! Absolutely none, do you hear?