Property News · August 14, 2015

Ex-council flat in central London sold for record £1.2m


Three-bed property near Covent Garden bought for £130,000 in 1990 realises return on investment of more than 800% for ownersA former council flat in central London has changed hands for £1.2m in what is thought to be a new record for an ex-local authority apartment. The three-bedroom property near Covent Garden has been sold by the original buyers, who bought it from Westminster council in 1990 for £130,000 under the right-to-buy rules introduced by Margaret Thatcher. Although it failed to reach the initial asking price of £1.35m, the sellers are unlikely to have been disappointed with a return on their investment of more than 800%. Continue reading…

Source : theguardian.com
Read more…Ex-council flat in central London sold for record £1.2m

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