I know they said on the news the flats were worth 1.2 million, but that's purely based on location. If they were anywhere else in the country they would be what...70k I mean a brick is a bloody brick. Unless they have solid gold light switches and diamond encrusted window sills?
nah - the cost price is 140k... so elsewhere in the country they'd be 140k each + the price of the land + some profit for the developer
on the market I wouldn't be surprised if they could be flogged for 800k at least... I mean they've probably not got access to the cinema etc.. but they're brand new and in the same location as flats starting at 1.6million each upwards so in terms of sq ft they'd definitely be expensive
thing is the original flats in that rather naff looking old tower block were probably worth up to 500k themselves... this is just an issue of location - the deal itself is good value and it hasn't cost the govt anything other than paying a bit to speed up completion thanks to the City of London stepping in.
there is obviously a wider issue like why do we provide social housing in such expensive areas in the first place and wouldn't it be better to provide it on a London wide basis - especially inefficient is housing say Syrian refugees in places like that tower block in the first place... no real reason for them to have been put up in a flat worth over double the average uk house