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Council flat in central london - opinions?

melunciello
melunciello Posts: 4 Newbie
in House buying, renting & selling
What do people think of this 2 bedroom flat in holborn?

Nice quiet area. 3rd floor with lift. About 102 left on leasehold.

Probably good potential for future renting. Not sure about value

Can't post link but here is the rightmove number 83031602

Otherwise add www. to this
rightmove.co.uk/property-for-sale/property-83031602.html

Many thanks for your help
«1

Comments

  • seven-day-weekend
    seven-day-weekend Posts: 36,755 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    https://www.rightmove.co.uk/property-for-sale/property-83031602.html
    (AKA HRH_MUngo)
    Member #10 of £2 savers club
    Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton
  • davidmcn
    davidmcn Posts: 23,596 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    Going by some lenders' criteria, that's an ex-LA multi-storey and therefore not mortgageable by them (though you will probably have more flexibility in London).

    Is the block of standard construction?

    Service charges are going to be what most people will be wary of - the social landlord (assuming they still have the bulk of the flats) will be largely in charge of what gets done, and things like lift maintenance add to the costs.
  • pimento
    pimento Posts: 6,243 Forumite
    Part of the Furniture 1,000 Posts
    Lovely location but ugly as sin and that price! *faints*
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
  • melunciello
    melunciello Posts: 4 Newbie
    service charges approximately 2000
  • pimento
    pimento Posts: 6,243 Forumite
    Part of the Furniture 1,000 Posts
    The windows look due for an upgrade, that'll cost you.
    "If you think it's expensive to hire a professional to do the job, wait until you hire an amateur." -- Red Adair
  • csgohan4
    csgohan4 Posts: 10,600 Forumite
    Ninth Anniversary 10,000 Posts Name Dropper Photogenic
    Find another one, the service charges and potential need for future repairs are something I don't think is worth the risk
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • Crumble2018
    Crumble2018 Posts: 296 Forumite
    100 Posts First Anniversary Name Dropper
    I still struggle to get my head around London prices. Move out 25 miles to Essex, Kent or Herts and you could get a 5 bedroom detached house for that money!
  • Gers
    Gers Posts: 13,360 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    The other one you posted about is much much nicer! This one is ugly and small and has rotten 'views'.
  • cattie
    cattie Posts: 8,844 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    Great location & easily rented, ugly looking block yes but then so is the Barbican & look how costly & sought after flats there are.

    As mentioned, construction looks non standard, so maybe not mortgageable. Service charges of £2k not excessive for location but I'd want to know what proportion of flats are in private ownership compared to those still renting from council/social landlord & likelyhood of major works in the future.

    Some of the other flats you've been considering would maybe interest me more as an investment.
    The bigger the bargain, the better I feel.

    I should mention that there's only one of me, don't confuse me with others of the same name.
  • diggingdude
    diggingdude Posts: 2,499 Forumite
    Eighth Anniversary 1,000 Posts Name Dropper Photogenic
    I don't know the markets I can't comment on the price as in value. The inside looks ok at best to me. thank you though it's links to houses and properties like this one which reminds me why I would never move to London
    An answer isn't spam just because you don't like it......
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