More of the family silver for sale?

[carlt]

 

 

Details Clicky

[LEO]

Interesting - 'Selling the Family silver' when BW sold lots of property by Auction back in 1992 I raised the question with them - why do the always sell in a poor property market?? - not profitable for them to hang onto it was the answer..

 

Looks a nice range of buildings.

 

Leo.

[Richard10002]

Interesting - 'Selling the Family silver' when BW sold lots of property by Auction back in 1992 I raised the question with them - why do the always sell in a poor property market?? - not profitable for them to hang onto it was the answer..

 

Looks a nice range of buildings.

 

Leo.

 

I'm not so sure it's such a poor property market? Admittedly, close to Manchester City Centre, but we are currently selling quite a few properties for more than their equivalent price at the peak of the boom.

 

The annual rent is only about £12k and, from what I can see, there is probBly some expenditure needed to increase this - perhaps better to realise the half a million quid, and use it to generate a better return.

[MtB]

Interesting - 'Selling the Family silver' when BW sold lots of property by Auction back in 1992 I raised the question with them - why do the always sell in a poor property market?? - not profitable for them to hang onto it was the answer..

 

Looks a nice range of buildings.

 

Leo.

 

If you follow the property boards (eg housepricecrash.co.uk) received wisdom is that the property market is WAY overpriced and a crash is due any second.

 

But then they've been claiming this since about 1995...

 

My personal view is we are due another boom as soon as the lenders stop being so stupid about handing out mortgages.

 

 

MtB

[Neil TNC]

 

Details Clicky

 

I am sure if you knew the right councillors, you could turn it into a spiffing residence, to rival one above the next lock!

 

Editted for Mrs TNC to butt in...

 

Or a nice block of apartments to complain about the boats parked opposite.

Edited March 9, 2013 by Neil TNC

[alan_fincher]

I am sure if you knew the right councillors, you could turn it into a spiffing residence, to rival one above the next lock!

I rather think you mean the next TWO locks, but, yes, I see where you are coming from!

 

Or a nice block of apartments to complain about the boats parked opposite.

Well it has its "own" moorings immediately outside, although I'm not clear if the occasional forum member that was on them still is or not.

 

I'd have it, (provided you can stop scruffy boats mooring just across from it, as you say. )

Edited March 9, 2013 by alan_fincher

[Richard10002]

If you follow the property boards (eg housepricecrash.co.uk) received wisdom is that the property market is WAY overpriced and a crash is due any second.

 

But then they've been claiming this since about 1995...

 

My personal view is we are due another boom as soon as the lenders stop being so stupid about handing out mortgages.

 

 

MtB

 

I'm "in the business" as it were, and was watching the housepricecrash forum in the early part of the century - my view was that if your permanent status is that there is going to be a crash, you will be correct every so often - and will be able to boast about it. They are not worth listening to!

 

I "foresaw" a crash in 2004, stopped buying property to make a quick buck, sold one for a very small profit, and held onto those that form my pension plan. I also sold my business, and semi retired. Perhaps I was a bit premature, but all the signs were that the market was overheated and merely needed a catalyst to destroy confidence - which we got, in spades.

 

I am now no longer semi retired, but work for someone else, rather than being the boss. Our current thinking is that there is something happening in the market that is defying the doom and gloom being peddled by the media - this is without a slackening of the rules relating to mortgages. If we are right, then so are you, and a slackening is likely to promote another boom.

 

Having said that, historically, the market doesn't tend to begin its next boom until a few years of collapse and stagnation have allowed wages to rise. This redresses the price/wages ratio, and off we go again. At the moment, wages haven't really risen to redress the balance - I think average wage is around £26k, and average price is around £160k i.e. 6x +/- . this is way more than a comfortable level, which used to be around 3x

 

So.... Unless we are happy that interest rates will remain at their historic low, and that we are in an era where there has been a fundamental change in the acceptable price/wage ratio, caution would be the recommended option.

[PaddingtonBear]

Bearing in mind where this, it has fantastic potential and it is true that for the time being the return is not commensurate with the capital involved but I don't understand why CRT can't increase the return themselves and not leave it to criminal and rapacious developers whom will ruin the scene and cause long term grief to the area. The South East, more particularly those areas within easy commuting distance from London are largely protected from any but the most extreme downturn and most areas are seeing static prices or small increases even now. I live in the crappest town in the South and even there prices are have been largely static or in the case of victorian terraces shown a slight increase. Why? again because of the criminal buy to let landlords and buy it now for cash crooks whom have bent bank manager in their pockets with freely available loans on demand. In nearby Brighton the issue here is magnified by the buy the let student accomodation providers snapping up the terraces and council houses and cramming them full of 'young people' at rents around four times the market rent for a family home and even more for the thirties ex council houses in Moulescombe on the way to the universities, yet another unintended consequence of the expansion of higher education. The sale of council houses is plain wrong and only serves as an engine to hike up the prices of houses as the former tenants with bags full of free money seek to purchase their next home. People have got to live somewhere and the system that allows buy to let landlords to exploit this situation with corrupt money stinks.

[sueb]

Will cart sell prior to auction like Hillmorton ?

[LEO]

I'm "in the business" as it were, and was watching the housepricecrash forum in the early part of the century - my view was that if your permanent status is that there is going to be a crash, you will be correct every so often - and will be able to boast about it. They are not worth listening to!

 

I "foresaw" a crash in 2004, stopped buying property to make a quick buck, sold one for a very small profit, and held onto those that form my pension plan. I also sold my business, and semi retired. Perhaps I was a bit premature, but all the signs were that the market was overheated and merely needed a catalyst to destroy confidence - which we got, in spades.

 

I am now no longer semi retired, but work for someone else, rather than being the boss. Our current thinking is that there is something happening in the market that is defying the doom and gloom being peddled by the media - this is without a slackening of the rules relating to mortgages. If we are right, then so are you, and a slackening is likely to promote another boom.

 

Having said that, historically, the market doesn't tend to begin its next boom until a few years of collapse and stagnation have allowed wages to rise. This redresses the price/wages ratio, and off we go again. At the moment, wages haven't really risen to redress the balance - I think average wage is around £26k, and average price is around £160k i.e. 6x +/- . this is way more than a comfortable level, which used to be around 3x

 

So.... Unless we are happy that interest rates will remain at their historic low, and that we are in an era where there has been a fundamental change in the acceptable price/wage ratio, caution would be the recommended option.

 

Hi,

Interesting - I live about 5 miles from the subject property and was in the'business' (FRICS) for about 40 years, the only way to stimulate property sales in the area is by offering units at realistic prices - the market is depressed; I can only go on the evidence I glean from confirmed sales and the number of these has been running at a decreased level for months (well years).

 

BW (and now CaRT) property admin/dealings have been appalling - whether it be the pubs partnership, or Gloucester Docks or the sales of property over the years.

 

I am minded of the sale by them at Auction of Cowroast Lock cottage in 1992 - tenanted it made £15000 (or less), selling to a local man. Within about 3 years the tenants moved out - it re-sold (unimproved) for about £130000, modestly improved it was on the market about 3 years ago for £350000 (withdrawn - overpriced).

 

Someone makes a lot of money out of these waterside units and it sure isn't BW or CaRT.

 

Paddington Bear deserves a 'greeny' for his posting.

 

Now how much did did BW/Cart write off for losses on Pubs and Gloucester Docks!!!!!!!!!!!!!!!?

 

Leo.

[Allan(nb Albert)]

 

 

Now how much did did BW/Cart write off for losses on Pubs and Gloucester Docks!!!!!!!!!!!!!!!?

 

Leo.

 

BW wrote off £2.6m on pubs before it went into administration and £33.1m on the Gloucester Quays development before they gave it away.

[Higgs]

BW wrote off £2.6m on pubs before it went into administration and £33.1m on the Gloucester Quays development before they gave it away.

 

Did anyone get sacked?

 

 

There should be sackings, big time. No pain, no gain.

Edited March 10, 2013 by Higgs