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Toilet for sale 155,000

Author Message
Loneranger
Joined 29-10-2005
Posted on Tuesday, 06 March, 2007 - 03:52 pm:   

The old public loo opposite Forest Hill station that was converted into a house is up for sale at 155,000.
Fhssecretary
Joined 12-10-2006
Posted on Tuesday, 06 March, 2007 - 04:45 pm:   

Housing crisis? What housing crisis?
Nevermodern
Joined 09-02-2007
Posted on Tuesday, 06 March, 2007 - 05:03 pm:   

A convenience location :)
Brian
Joined 18-04-2005
Posted on Tuesday, 06 March, 2007 - 05:20 pm:   

Yes I walked past 30 mins ago and looked like an estate agent showing someone in.
It must be very noisy there
Toffeejim
Joined 27-11-2004
Posted on Tuesday, 06 March, 2007 - 10:18 pm:   

At that price you'd hope it would be well appointed, but I fear it could be..........bog standard
Michael
Joined 04-03-2005
Posted on Tuesday, 06 March, 2007 - 10:20 pm:   

I believe it is likely to be bought by somebody wishing to rent it out. Buy Toi Let.
Tersie
Joined 04-02-2007
Posted on Wednesday, 07 March, 2007 - 12:12 am:   

I like your style Micheal, v funny!
Davidwhiting
Joined 07-12-2003
Posted on Wednesday, 07 March, 2007 - 07:41 am:   

At one point there was an applicaton to turn it into a wine bar with an extension on the adjacent, then vacant, site.

The planners strongly opposed on conservation grounds, though I think it would have been a better use with a philosophical importance - turning a urinal into a wine bar might count as the reversal of time's arrow might it not?
Andy
Joined 23-02-2005
Posted on Wednesday, 07 March, 2007 - 08:56 am:   

Cut out the middleman?
Dotcom
Joined 21-04-2005
Posted on Wednesday, 07 March, 2007 - 10:32 am:   

155,000? Taking the p...... mick!
Simod_the_bod
Joined 28-11-2006
Posted on Wednesday, 07 March, 2007 - 10:48 am:   

Whoever stumps up the cash is just flushing it down the pan...
Andy
Joined 23-02-2005
Posted on Wednesday, 07 March, 2007 - 10:52 am:   

Loo-sing their money
Dotcom
Joined 21-04-2005
Posted on Wednesday, 07 March, 2007 - 10:53 am:   

I'd wash my hands of it.
Liz
Joined 26-04-2006
Posted on Wednesday, 07 March, 2007 - 10:56 am:   

Oh please, surely the Webmaster must intervene at this point? These puns MUST NOT be allowed to continue!
Andy
Joined 23-02-2005
Posted on Wednesday, 07 March, 2007 - 10:58 am:   

You think that the Webmaster should wipe these posts?
Haylands
Joined 29-09-2006
Posted on Wednesday, 07 March, 2007 - 11:05 am:   

It's the smartest pad in Loo-ersham!
Andy
Joined 23-02-2005
Posted on Wednesday, 07 March, 2007 - 11:17 am:   

Sure it's a lovely wee place.
Webmaster
Joined 01-01-2003
Posted on Wednesday, 07 March, 2007 - 11:21 am:   

Yes, enough already.
Brian
Joined 18-04-2005
Posted on Wednesday, 07 March, 2007 - 12:39 pm:   

I often walk past this amazing residence and there is so much noise , especially late at night from the HOB.
It could be a good buy for someone hard of hearing otherwise would never get any sleep. That price seems over the top. How many rooms does it have , does anyone know.
Are facilities en suite
Ghis
Joined 02-01-2007
Posted on Wednesday, 07 March, 2007 - 12:41 pm:   

http://www.findaproperty.com/displayprop.aspx?edid =00&salerent=0&pid=705142&agentid=08625
Laura
Joined 19-07-2006
Posted on Wednesday, 07 March, 2007 - 12:42 pm:   

The details are on the acorn website: http://www.acorn.ltd.uk/site/php/propertyDetails.p hp?isRenting=0&from=map&id=277380,b .

It looks pretty small!
Loneranger
Joined 29-10-2005
Posted on Wednesday, 07 March, 2007 - 01:22 pm:   

Note the features....

Large Split Level Property, Unique Period Conversion, Shower Room, Good Condition, Freehold, END OF CHAIN, Investment Opportunity, Close To Local Transport Links.
Brian
Joined 18-04-2005
Posted on Wednesday, 07 March, 2007 - 01:23 pm:   

I like the estate agents speak..

Plenty of mention about convenient ( no pun intended ) for station
No mention of South Circular or David's Rd.
For at least a couple of hours a days there is a queue of traffic doing the rat run one side and South C the other.
Fh1
Joined 01-04-2006
Posted on Wednesday, 07 March, 2007 - 04:14 pm:   

I think its a good investment! Somebody would pay you 700 a month to live there - easliy justifies the price!
Djnever
Joined 09-04-2006
Posted on Wednesday, 07 March, 2007 - 04:21 pm:   

a bargain I would say, especially split-level. You wont find a newly refurbished property cheaper than that in FH!

I think it would be a very good buy-to-let investement
Baggydave
Joined 19-05-2004
Posted on Wednesday, 07 March, 2007 - 05:42 pm:   

Surprised it wasn't described as a cottage (whoops don't go down that route)

There is already a bar in Manchester that was a converted public convenience, aptly named the "Temple of Convenience" www.beerintheevening.com/pubs/s/39/3900/Temple/Man chester
Laura
Joined 19-07-2006
Posted on Wednesday, 07 March, 2007 - 09:40 pm:   

Nah - you'd not get 700 a month. I pay that for a massive newly refurbished two-bed flat on Brockley Rise. Hopefully this kind of thinking will cause the bottom to fall out of the buy-to-let market and let people like me get on the property ladder for the first time... *sigh*
Queenofdarts
Joined 30-11-2006
Posted on Wednesday, 07 March, 2007 - 10:00 pm:   

Seconded. I would _really_ like to stay in FH long-term, but at present it looks as if I will have to rent forever...

Maybe the loo - sorry, the "unique converted washroom" is priced for its uniqueness, rather than its, um, facilities?
Roz
Joined 17-03-2005
Posted on Thursday, 08 March, 2007 - 06:21 am:   

The END OF CHAIN bit in the ad struck a cord with me too. I remember the public loo-ha when this redevelopment was first pooposed. Seems theres a market for everything. What about the loo in the station forecourt- anyone want to put a price on that? Even more convenient for public transport links.
Brian
Joined 18-04-2005
Posted on Thursday, 08 March, 2007 - 09:11 am:   

Laura
Are you serious , someone would pay GBP 700.00 a month for a place like that. You have got to be joking
Laura
Joined 19-07-2006
Posted on Thursday, 08 March, 2007 - 10:23 am:   

Not when they can get somewhere three times the size and even more nicely done up for the same price! When I was flat hunting to rent a year ago I saw people trying to rent out places like that for 700 - but when there's alternatives like the one I found I'm afraid they're going to stay on the market for longer. Depends on what else is around, eh?
Fh1
Joined 01-04-2006
Posted on Thursday, 08 March, 2007 - 10:40 am:   

I will eat my hat if that flat is not bought for 150,000 and is straight back on the rental market at 700 per month. Laura you flat sounds nice, but is it a stones throw from the station? People pay for that.

So its a bit noisy people put up with that short term. I might try and buy the toilet myself - great investment!
Laura
Joined 19-07-2006
Posted on Thursday, 08 March, 2007 - 11:00 am:   

Problem is - we're not renting for the short term any more, we can't afford to buy at all so lots of us in FH/ HOP are in a position of long-term renting. And for that we want what someone buying would want - space, storage and a bit of peace and quiet!

Good luck - although recommend that you check out the competition on places like findaproperty.com to see what other people are charging.
Pvp
Joined 17-03-2005
Posted on Friday, 09 March, 2007 - 10:06 am:   

On a general note, prices do seem to be going rather silly around here. Studios now going for up to 140k and one beds 190k, maybe what many have desired for so long has finally arrived, along with our gasto pubs and wine bars.

How long before a nostalgia thread? 'I remember when t'Forest Hill boozers smelt like donkey's jockstrap and all had sticky curtains that were still closed from the blitz....'

Actually that's probably a pretty good description of the Dartmouth Arms pre-facelift. Upon reflection, no, I don't miss it!
Brian
Joined 18-04-2005
Posted on Thursday, 15 March, 2007 - 08:13 am:   

Yes prices seem to have gone mad.
What would be a mortgage for 1 bed flat at say
GBP 185k.
When I purchased mine I thought it was expensive at GBP 26k.
Thomas
Joined 14-03-2007
Posted on Thursday, 15 March, 2007 - 08:55 am:   

According to the estate agents website its under offer (and has been for a few days now). I wonder if the vendor achieved their asking price?
Fh1
Joined 01-04-2006
Posted on Thursday, 15 March, 2007 - 09:10 am:   

Brian - I know where you live, 26k is still expensive for your property!!

Mortage on 185k got to be between 900 - 1000 p.c.a.
Laura
Joined 19-07-2006
Posted on Thursday, 15 March, 2007 - 09:14 am:   

I've been offered mortgages between 950 - 1050 pca for a mortgage of 160,000... it's not looking good, is it? It's cheaper to rent than buy, which is unusual.
Michael
Joined 04-03-2005
Posted on Thursday, 15 March, 2007 - 09:19 am:   

It is easy to say prices have gone mad - they have, and I am grateful I am already on the property ladder. But it is worth saying that property in Forest Hill is still excellent value for money compared with most other parts of London. This is not a localised problem but is a problem across London and the South East.

It is possible that in Forest Hill property prices are rising slightly faster than in other neighbourhoods, but they are still undervalued compared to other areas.

I should not really be saying this since I want to move up the property ladder and have no intention of leaving Forest Hill (and I know others who are being squeezed out). The price margins are increasing and there are not enough larger properties coming onto the market for my liking. Please could everybody stop moving to Forest Hill!
Brian
Joined 18-04-2005
Posted on Thursday, 15 March, 2007 - 10:04 am:   

Hi FH1
You are quite right I was ripped of , but that is life.
GBP1 k a month just to pay for mortgage. What is average wage , we are told about 24 k .
So 12k in costs income 24k less tax .
Fh1
Joined 01-04-2006
Posted on Thursday, 15 March, 2007 - 10:40 am:   

Brian - glad you got the joke!

My guess is you need to earn 40k a year to live in a decent place on your own these days!

Interesting to hear peoples views?
Brian
Joined 18-04-2005
Posted on Thursday, 15 March, 2007 - 10:45 am:   

Yes I agree . Certainly the average wage not enough
Fhssecretary
Joined 12-10-2006
Posted on Thursday, 15 March, 2007 - 11:27 am:   

Think the average wage in London is a little higher than 24,000 but you'd need to be earning about 45,000 to live in the toilet, to be paying a mortgage of 900-1000 from take home pay of ~2500.
Roz
Joined 17-03-2005
Posted on Thursday, 15 March, 2007 - 11:57 am:   

Mortgage companies are these days taking a more flexible view on affordability, deposits,and term to keep the business rolling in, otherwise they would also go out of business. You can now get 30 year mortgages instead of 25 for instance, some really low interest rates from brokers and housebuilders, and the one account options do seem good for offsetting interest, providing you don't dip into property equity to go shopping.
I work in developing social housing and am always surprised at what people entering shared ownership schemes can afford and how quickly they staircase up into full ownership, something which is always above expectations. I think there are still a lot of parents helping their adult kids out with equity, capitalising on the equity on their own properties to do so.

Its cheaper to rent than buy at the moment due to the success of buy to let schemes, which has meant an oversupply of property and depressed rents, however this is not guaranteed in the long term, and its still paying off someone elses mortgage rather than your own, so still I think better to buy if you can afford it. The general pattern is after the first five years things become easier, however then people are at the stage of starting families which puts further pressure on the pocket. I am aware of a number of young families who are simply moving out of London and commuting long distances to work in London, ie from Bedford and Luton which then has an impact on quality of life.

The current rate of rising prices is good if you are already established on the property ladder and looking to downsize ,but difficult if not, and overall this makes the whole property market and economy more vulnerable minor interest rate changes, hence there is still a risk that the pack of cards will come crashing down if people cannot afford to enter the market. However it seems as if demand will exceed supply for some years to come, as new housebuilding completion targets simply are not being met, due to lack of land supply, vendors demanding high prices, labour shortages and costs,and delays within planning system. The Olympics have already led to fun and games in East London where land owners are holding out for extortionate prices which can often mean years of delay in delivery whilst housing sites are assembled. Complex things, housing markets, especially in the UK!
Brian
Joined 18-04-2005
Posted on Tuesday, 20 March, 2007 - 12:25 pm:   

Has this so called bargain been sold yet. By the comments of some contributers it should have been snapped up.
Maybe it has
Thomas
Joined 14-03-2007
Posted on Tuesday, 20 March, 2007 - 01:07 pm:   

It went very quickly, within a few days of it first being advertised - see my message above dated 14th March (it actually went under offer a few days earlier). In due course we should be able to see the eventual sale price via a website such as www.houseprices.co.uk

Will prices like this push more buyers out to places such as Catford or Penge, where you should get rather more for your money?
Fhssecretary
Joined 12-10-2006
Posted on Tuesday, 20 March, 2007 - 01:27 pm:   

Some might say that you would still be living in a toilet, though
Brian
Joined 18-04-2005
Posted on Tuesday, 20 March, 2007 - 01:40 pm:   

I am amazed. I must admit to wanting to look inside but I guess I missed my chance when on the market.
I remember when a urinal and I recall using on a number of occasions
Sherwood
Joined 30-03-2005
Posted on Tuesday, 20 March, 2007 - 03:51 pm:   

The BBC's Breakfast programme this morning spoke about the difficulty of finding a public toilet.
Loneranger
Joined 29-10-2005
Posted on Wednesday, 21 March, 2007 - 04:11 pm:   

Anyone concerned about overcrowded accomodation may be interested in this petition to the Prime Minister, begun by a Lewisham resident.

http://www.2kbloggers.com/housing-crisis-in-lewish am/kate-lewisham/#more-203
Baggydave
Joined 19-05-2004
Posted on Thursday, 22 March, 2007 - 11:40 pm:   

Glad to see that someone cleaned the windows of the toilet - which were black with car soot.

The Times had an article on East Dulwich property this week - (I have a friend who reads it, not me....)

Very much singing the praises, so much that it could have been written by an estate agents. Watch the ripples.....
Baggydave
Joined 19-05-2004
Posted on Friday, 23 March, 2007 - 01:56 pm:   

Ahh, found my 'ripples' thread on the beyond SE23 forum - welcome your views dear readers
Brian
Joined 18-04-2005
Posted on Friday, 23 March, 2007 - 03:39 pm:   

Yes BD those windows have been an utter disgrace.
Just because one lives in a toilet gives no excuse not to have clean windows
Loneranger
Joined 29-10-2005
Posted on Friday, 30 March, 2007 - 12:39 pm:   

According to the South London Press a loo in South London has been turned into a 'pizzeria' restaraunt. According to the paper the loo in Forest Hill could be decribed as a 'room with a poo'.
Pvp
Joined 17-03-2005
Posted on Tuesday, 10 April, 2007 - 12:45 pm:   

I was having a browse on upmystreet.com and was quite surprised by these figures:

Average property prices - Flats
Quarter SE23 2 England & Wales av
2006 (oct-dec) 178,425 (168) 186,405
2006 (jul-sep) 180,898 (40) 192,892
2006 (apr-jun) 173,650 (33) 189,015
2006 (jan-mar) 169,081 (27) 181,442
2005 (oct-dec) 166,544 (34) 175,497
2005 (jul-sep) 153,038 (31) 177,564
2005 (apr-jun) 155,690 (22) 177,101
2005 (jan-mar) 146,050 (20) 174,201
2004 (oct-dec) 147,060 (24) 171,166
2004 (jul-sep) 163,562 (28) 174,741

All very interesting I hear you say. In particular it is the number of properties which have changed hands in the last quarter: 168 versus a long term average of circa 40. Quite a hike! It's very strange how for some reason an area becomes hot. Or it's people escaping. More than possible.
Dommy
Joined 27-05-2004
Posted on Tuesday, 10 April, 2007 - 01:22 pm:   

People avoiding having to get the Home Seller packs...
Forester
Joined 04-02-2006
Posted on Tuesday, 10 April, 2007 - 06:55 pm:   

Definitely agree with Dommy about the HIPs effect. The average flat price went down by nearly 6k vs. 2k national average - now that is a surprise, especially as I assume that these are mean average prices. From what I have seen FH houses are going like hot cakes and prices have soared in the last 6 months.
Michael
Joined 04-03-2005
Posted on Tuesday, 10 April, 2007 - 07:16 pm:   

Is it possible that the development around Clyde Vale has had some impact on this? The fact that these flats are right beside a railway line and may be slightly smaller than the average flat in SE23 (although I have no evidence for this) may mean that the large number of units for sale at low prices has affected the average.

From what I have seen prices are continuing to rise gradually but steadily. The problem that I am having is that few properties I want seem to be for sale at present.
Sherwood
Joined 30-03-2005
Posted on Wednesday, 11 April, 2007 - 09:04 am:   

Some experts are predicting a price crash.
Haylands
Joined 29-09-2006
Posted on Wednesday, 11 April, 2007 - 09:57 am:   

Prices will go up and down, crash - explode! If you're in it for the long term and not a fly by night investor chances are that you'll be ok. forest Hill has traditionally been under priced, and therefore has much catching up to do.

I guess the reason why average price has dropped is due to increased number of flats being sold at lower price. When we were looking to move into the area in 2005 (from NW London), the average asking price for 3 bedroom house (good condition, medium sized) was around 270k. Now the asking price is more like 350k...whether you get that for them is another question!
Nasaroc
Joined 03-06-2005
Posted on Thursday, 12 April, 2007 - 11:09 am:   

PVP - I think that you need to be careful with recent figures from property sites such as upmysteet. If you enter almost any area (not just se23) on the upmystreet site, it shows that the number of properties sold at the end of 2006 had risen five or six fold and that average prices had dropped.

Is this happening in reality? Of course not - prices have been rising steadily in se23 and there are not excessive numbers of properties for sale - as anyone looking in local estate agent windows will quickly realise - certainly not enough to show a four and a half times increase in the total sold. Nationally, the picture is much the same.

What upmystreet are doing is taking "raw" data from the land registry. Keep an eye on the site in the coming months and I think you'll see the figures readjusted.


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