Monday, 3 December 2012

Location, location, location

From The Daily Mail:

The owner of Arsenal Football Club has bought the ultimate field of dreams - an £80 million farm...billionaire businessman Stan Kroenke has found an ideal location for Wenger to be 'put out to pasture' - this 124,000 acre ranch in the Rocky Mountains of Montana, USA.

Ignoring the value of the buildings/improvements etc, that's £645/acre

From The Telegraph:

The property, if it was [sic] sold for £100 million, would surpass the previous record by £20 million and be the clearest sign that house price crash – the worst since at least the Second World War – might be over.

The stucco-fronted house is at one of London's most prestigious addresses, Belgrave Square, home to many embassies, including the Portugese and Turkish, as well as Russian and Arab businessemen. It has more than 21,000 sq ft of living space, 20ft ceilings, its own mews house and is understood to contain every conceivable luxury but it has a relatively small garden..

Ignoring the cost/value of the building (21,000 sq ft @ say £500) that's about £900 million/acre, i.e. over a million times as expensive (which is what we would expect).


. said...

My spies tell me that the super-premium London property market has peaked.