Mark,
When I completed my parents' estate it totalled £200,000. I held off selling these assets for a year of rapidly rising prices so the final price was £250,000.
The council purchased the old YMCA in Bond Street for £1.9 million in 2012. It laid empty for 6 years until it was sold to St George. During those years there would be outgoings; Insurance, business rates, maintenance etc. Was this money coming from St George Mark? This was a town centre property with a Cross Rail station just down the road. As a Monopoly player I understand the lost revenue of keeping a property empty and I understand the costs too. I also understand price inflation. The site was sold to St George for £1,987,000. All of that makes is £87,000 over a 6 year period or £14,500 p.a. Sorry Mark that's way too small. So small you could call it a gift and in this world of closing libraries and austerity gifts aren't allowed. Now you show me your maths Mark. |