Buy a home for 1 pound or a garage for 100,000 pounds!

Posted: 07/08/2012

*Please note, Pali do not have any houses for sale. This is a news blog, not an advertisement.
For more information, please visit the Stoke-on-Trent Council website.

*Yes, £1 is all you need to purchase a house on Bond Street in Stoke, Staffordshire. Stoke-on-Trent Council are desperately trying to attract tenants to live in their derelict buildings on Bond Street in Tunstall and Portland Street in Cobridge. The positives in purchasing an empty home on Britain’s cheapest street is you will receive a £30,000 low interest loan from the Council as part of a £30 million Government grant to be used to renovate the building to a liveable standard. The downside is the street is part of a crime ridden area where regular fly tipping occurs, graffiti is spayed on walls, squatters live in nearby houses and burglary and arson attacks are a common occurrence too.

But if this doesn’t put you off, you have a choice of two and three bedroom houses with backyards for sale, some in liveable condition and others desperately needing refurbishment. Stoke-on-Trent are trying to encourage a community to develop in the area therefore, if you purchase a property in the area a condition is that you must live in the house for at least five years before selling it. However, a property in the area that was completely renovated was given an estimated value of a mere £30,000.

In January 2011, council tax data revealed that there are around 4,000 empty properties in Stoke which sparked the council to discuss ideas on how to best tackle the growing problem of abandoned houses. Stoke-on-Trent Council’s plans are set to be approved later this year and launched in 2013.

From the cheapest street in Britain to a very expensive garage near Buckingham Palace which is on the market for £100,000! This garage is 153sq foot situated near Little Chester Street in Belgravia, South West London but even a sports car would struggle to fit into the tiny space. The garages only asset is the area it is located which is one of the most desirable in the world, being located near Buckingham Palace.

In comparison, the average house price in England and Wales is £161,777 according to the Land Registry figures from June however, a garage in Knightsbridge went on the market in May for £525,000! This garage is situated close to Harrods and has the added bonus of being freehold unlike the garage near Buckingham Palance which only has 44 years left on its lease.

Amanda McGovern, Pali Ltd

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(0) Comments regeneration, London, garage, Stoke, council, housing

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