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PLANET PROPERTY
Expect a glut of onebedroom flats in the poshest parts of London in three to five years. Two- and three-bedroom units in the £2,000-plus per sq ft bracket are proving hard to shift. Guestimated prices for those not yet built are being marked down heavily.
When lower prices are re-entered into appraisals which excused paying top dollar in 2014/15, the bottom line turns red. But the numbers turn black again if some two/threebedroom flats are replaced by one-bedroom units.
The Abu Dhabi owners of New Scotland Yard, SW1, are just one of many returning to their respective planning authorities pleading, "Please sir, can I have some more?"
Palace scandal
Some scandals never see the light of day. Stretching the precommencement timetable on the £3.9bn Palace of Westminster restoration to suit the electoral timetable is one such scandal. The idea that seven years of preparation is needed before scaffolding goes up is nonsense. But almostconvincing arguments have been made by adviser Deliotte in the joint parliamentary report...