Investors Edging Back to Auctions As the Tide Turns ; On Property
Evening Standard - London › January 09, 2009
Linked as:
Summary
ON 17 December at the Cumberland Hotel near Marble Arch, auctioneer Gary Murphy of Allsop brought down the hammer on Brookside Close, selling the 13 houses that made up the set of the defunct Channel 4 soap opera for [pounds]735,000.
The cheque goes to the receiver. The developer who bought the Liverpool close in 2005 with plans to convert the fake homes and sell them for [pounds]2 million is long gone. Another hopeful has bought the set, paying little more than the value of the land on which weeds sprout as high as an elephant's eye.See the full content of this document
Extract
Investors Edging Back to Auctions As the Tide Turns ; On Property
Has the new owner got a bargain? Well, perhaps. For the wider question of whether there are now bargains to be had at property auctions is starting to excite attention. There are two schools of thought: the optimists who think prices can go no lower and pessimists who think they can.
Six month...See the full content of this document
Sponsored links
