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The first 12m flat in SE1

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Tuesday 6 July 2010 10.07pm
Any takers? It does have 6 bathrooms, a large capacity fridge and 'numerous' balconies, presumably too many to count.
Wednesday 7 July 2010 7.43am
I love the link that says 'find a mortgate for "12,000,000" ...
Wednesday 7 July 2010 9.13am
At approx 7000sq ft, that's 1710 per sq ft. Wow! That's comparable to SW Central London. SE1 prices are going to zoom up and up as development gathers pace - Elephant and Castle, Waterloo, Bermondsey and London Bridge. The Shard is expected to market at around 4000 per sq ft for the upper floors (of course there's that premium for views over to the English Channel).
Wednesday 7 July 2010 9.15am
Not a bad little pied de terre, emmab. Only six bathroom and one fridge more than my first house had.
Wednesday 7 July 2010 9.32am
You'd need a mortgage for the council tax
Wednesday 7 July 2010 10.33am

Unfortunately not. One of the more contentious aspects of council tax is that it doesn't, at the top end, reflect the value of the property.

So, when you move into your twelve million pound flat, you'll pay the same 2,443.92GBP as someone in a flat that was only deemed to be worth 320,000GBP in 1991. That's only twice what someone in an 'average' Band D property pays.
Wednesday 7 July 2010 10.38am
you may not need a mortgage for the council tax but I expect the service charge is about the size of my mortgage!
Wednesday 7 July 2010 3.22pm
I heard about this flat already a while ago and apparently it is not worth the money. It might be that this is the reason why it is still on the market.

Regarding the tax issue, if this person who can buy this flat works and lives in the UK, he or she probably pays already more then enough taxes to the state.
Wednesday 7 July 2010 3.36pm
Sounds just the thing...our Se1 parties will be the talk of the town. You're all invited once I've moved in and redecorated.
Wednesday 7 July 2010 8.04pm
For 12m, I think I'd want something that looks a little bit less like an office.
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