Property News – November 2014

At the end of another month and nearly another year, we give a roundup of the headline hitting property news this month.

Battersea Power Station Apartment Prices Soar

The Guardian led with this story about a studio flat in converted Battersea Power Station hitting the market with a whopping price tag of £1,500,000 despite the fact that it is yet to be built. Construction has not yet started on this exclusive development but the bidding has already begun at alarming prices indicating that the property market in London is showing no signs of slowing down.

The building, once complete, will be a village in its own right boasting 254 luxury apartments, a shopping centre, galleries, restaurants and a huge 1.5 acres of private roof top garden for its residents.

Click here for more details about the project.

Mansion Tax to Lead to Closure of Historical Properties

The Telegraph warned that Labour’s plans to pass a mansion tax should they be voted into the hot seat next year will have a disastrous effect on property owners already struggling with the escalating costs of maintaining a large and old building.

The Historic Houses Association (HHA) speculate that some of the 500 historical houses that open their doors to the public will ultimately fail, thereby forcing a sale which is likely to end to the property becoming privatised and the public no longer being welcome to visit. The HHA hope that some properties will receive exemption status from the Government to protect the owners and local businesses who will also feel the rippling affects.

Lambeth Rental Property in Dire Condition

The BBC highlighted the story of a rogue landlord who has been renting out a property in Clapham, London which was in such poor condition it had a tree growing inside the property which held an electrical cable.

The property had been illegally turned into flats with the landlord charging £100 per week for each of the 8 rooms which shared just one bathroom. The property has since been repossessed by the local council and all residents of the squalid property relocated.

lambeth

 

 

 

 

 

 

 

 

 

Desk Sized Property in London up for Rent

Yet more London property news this time from the Metro who reported the story of this desk sized room which has just hit the rental market with an asking price of £74 per week.

The room, which is little more than a cupboard, contains only a bed is advertised on www.spareroom.com as part of a multi-cultural 6 person house share made up of housemates from Estonia, Latvia, Poland, Portugal, Spain and Slovakia. Where do I sign up?!

smal room

 

 

 

 

 

 

The Only Way is Essex

Our native county already has fantastic rail links into London but property buyers are poised to snap up more local homes as the news of a new “cross rail” link into the capital hits.

Cross Rail will not only improve and update local stations, they will also oversee the extension of train platforms to allow for longer trains to service the growing commuter market all looking for a fast and comfortable ride to work.

New trains will arrive into service and for the first time local residents will be able to travel straight to Heathrow without train hopping. Get snapping up properties now!

Feature image photo credit: <a href=”https://www.flickr.com/photos/trois-tetes/359759173/”>Trois Têtes (TT)</a> via <a href=”http://photopin.com”>photopin</a> <a href=”http://creativecommons.org/licenses/by-nc/2.0/”>cc</a>

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Caroline Engstrom

Caroline Engstrom has a passion to help landlords and tenants by providing helpful tips and advice regarding real estates.

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