£120k a good price for one of these?

turbobob

Pictures from www.flickr.com and no, I haven't got a Rightmove link These are just a few miles away from me (its called the Billybanks Estate in Penarth, South Wales). As you can see its not the nicest of places. Its all due to be demolished to make way for some flashy new build apartments.

Apparently though there are still a few people living there, some of the few people who actually bought these places. The story in the local rag is that each of the remaining owner occupiers are being offered £120k for their maisonettes. Good deal I thought. But they won't sell and are holding out for more :rolleyes: They say they can't get somewhere similar for that money. The next step will probably be a compulsory purchase order. I think I'd take the money and run. Do they have a chance of getting more money??

ad44downey

the pictures remind me of Berlin in 1945

dopester

I doubt the developer or the government will continue with
the scheme due to lack of funds.

They are worthless.

Tassotti

I like it, especially the garden

Prudent

Tell them to move to Clackmannanshire. They can get a three bed semi on a nice estate for that. But then perhaps it might not feel 'similar'

meester

Hmm, looks like you can buy this for £120k

http://www.rightmove.co.uk/viewdetails-22245311.rsp?pa_n=2&tr_t=buy

Doesn't seem too bad

mewbie_2

The opening photos are a picture of the future for the new build apartments that have been thrown up in recent years. With a lack of 'young professionals' seeking 'luxury executive' accommodation, the flats, where occupied, will become the new social housing. Unable to cover the service charges these flats will fall into rapid disrepair.

In a few years time (I don't think it will take very long), the difference between the builders glossy brochures and the new reality will be staggering.

What really annoys me is the targeting of naive FTB's by the builders and their agents. The opening photos should be stuck across every new build flat billboard as a [strike]health[/strike] wealth warning.

amcluesent

>photos should be stuck across every new build flat billboard as a health wealth warning.<

No doubt when newly built, those properties were fine. I think the pig makes the sty, the sty doesn't make the pig.

rizla01

I think I'd go for the topless one.:)

LittleMissAspie

Well you can buy 2-bed flats an hour away from Cambridge for 120k, so I'd have thought you can get much more in South Wales.

They are just being greedy, I expect they think the developers will pay them more because the development can't proceed if they don't. But in this climate I'd be surprised if the developers are that desperate.

clobber_2

LittleMissAspie wrote: »

They are just being greedy, I expect they think the developers will pay them more because the development can't proceed if they don't. But in this climate I'd be surprised if the developers are that desperate.

Well quite, and what will actually happen is the developers will go bust, be unable to purchase their flats for any money, be unable to go ahead with the proposed development, and the whole pile turns to ratsh!t around the OOs' ears.

Doom and gloom? Moi?