Tuesday, May 25, 2010

Flat Rate In Margate

I thought I'd tool off to the smoke (London) today to grab myself a property bargain in the smoke (Margate)! All sorts of flats and houses in the Arsonist's Playground are going at knock down prices courtesy of Allsops the auctioneers, who are, er, flogging it at the Cumberland Hotel today and Thursday. Click here for the Margate sale list.

Flats start with a guide price of £25,000-£30,000, and apparently the entire freehold is up for grabs on that lovely, refurbed Royal York Mansions on the Piazza (Parade in old money). There's more about it on the excellent Margate Architecture blog.

I must say that, having been on a bit of a bender in Margate with some millionaire chums over the weekend, things definitely seemed to be looking up. For the first time in living memory, the number of private vehicles going up and down Fart Hill actually outnumbered the cop cars!

Update: Margate Architecture has now published the results of the auction. Click here to view.

21 comments:

ascu75 aka Don said...

how many did you buy Richard?
You sure about the cars?

Anonymous said...

nob

The Rock said...

Richard, beware the rise in CGT. Could spoil the profit though I don't doubt that you are well advised on tax avoidance for your millions!

Anonymous said...

So, no longer the seedy North Side, eh?!

Richard Eastcliff said...

Still seedy, but the Ramsgateification of Margate is well under way if you hadn't noticed!

Peter Checksfield said...

Margate has been on the rise ever since I moved here!

The Rock said...

That's because the west side of the country is sinking thereby lifting the east.

Anonymous said...

Wrong again Rocky, it's the south east that's sinking.

The Rock said...

Evidently not in Margate for, according to Peter, it is rising and has done ever since he moved there which probably means he is lighter than the person he replaced.
By the way, try not to take everything I write literally for most of it is nonsense or a deliberate wind up. I find it good for the soul.

Anonymous said...

You have got to be kidding if you think Margate is on the up. I have just paid one of my thankfully rare visits to the place and the only people on the high street apart from me and the wife were the mentally and physically infirm, alcoholics, drug addicts, the unemployed and pensioners.

The only sign of improvement was Yates's Wine Lodge which has been derelict for years being tarted up but I presume this will become yet another hell hole for Margate's alcoholics to hang out in.

The Rock said...

Hi, 1:41, spotted you in the High Street with that smug, in employment, prime of life and not pissed look about you. Shame you could not spare a couple of coins to toss in my begging bowl to help towards my next fix! Not really on to go knocking the afflicted though for it is not their fault they all get dumped in Margate by their London Borough Councils.

Anonymous said...

Most of the Margate list is made up of properties being sold by the receiver for some related companies who have gone bust. The way they are related is that Wade Barker, husband of Councillor Judith Russell, is a Director of all of them. No service charge accounts have been provided for the eight flats in Royal York Mansions so the buyer has to pay any outstanding bills to the freeholder (which is also Mr Barker's company). Maybe the slimy Mr Barker hopes to put off other purchasers and buy them back under another disguise, then write off the bills. Mere conjecture of course. We'll see tomorrow.

Anonymous said...

The suspicion of underhand play within the regeneration of Margate! surely not.

Anonymous said...

is that normal in Margate ?

Anonymous said...

Apparently some bloke has bought 6a and 6b Royal York Mansions at the auction for £48k and £49k. If there really no service charges he has got a bargain. I daresay he will find out soon.

Anonymous said...

I am pleased to say the flats have all gone to different buyers and just hope they don't face big service charge bills.

Anonymous said...

anon 7.40
The same Wade Barker that has 42 The High Street aka the old Humbug Shop that was granted regen funds and by now supposed to be 10 artist studios and a cafe? The same Wade Barker that invested in over 300 properties in Thanet? Hope that investment and grant money is secure.

Anonymous said...

Will the seller of the flats have to pay back any grant money received for the roof? Will the "Humbug" owner be paying back any regeneration money received?

Anonymous said...

Grants are paid to the owner of the block not the individual flat owners so I don't think thats an issue. The humbug is an interesting one though - is that being sold off too? Dosn't look like any regeneration work has been done on it though??

Anonymous said...

And the outfitters gallery, anyone care to shed any light?

Anonymous said...

Mr Barker has a trail of failed companies behind him - 7 in administration and over 50 company directorships most have no substance behind them...............

How ethical are Mr Barker and his wife Judith Russell, I wouldn't trust them or the companies they are involved in. Raises concerns about him getting the inside track of development opportunities via his wife's position on the council.