Beached ~ The Cost of a Sea View
Daily unique property offering: Tuesday 16th January 2024. Today, we make best efforts to answer: “What price is a sea view worth?” This is one of the most frequent topics of interest from Unique Property Bulletin readers.
^^ Beach Chalet ^^
Shore Road, Cowes, Isle of Wight, PO31 8LD
£47,000. Click Here.
As a research example we are looking to the south of the U.K. We love the Isle of Wight. It is a wonderful island and has some beautiful beaches…
^^ Beach Chalet View ^^
Shore Road, Cowes, Isle of Wight, PO31 8LD
£47,000. Click Here.
At Unique Property Bulletin, our fondness for the Isle of Wight also stems from the old ferry MV Southsea.
The old, beloved island ferry, MV Southsea taught us much and directly led ~ 15 years later, to the successful recovery from the scrapyard of TS Queen Mary…
Before Restoration…
^^ TS Queen Mary ^^
Friends of TS Queen Mary Charity: Click Here (1)
The charity for that purpose was born from the tapping of the very keys on this old, clockwork computer keyboard. Apologies for a slight digression. Though an apt sidebar, as one of the favourite pastimes at a beach hut is to “watch the ships go by.” It is a guilty flaw with Unique Property Bulletin, that our crew of mischief makers, cannot help but “go buy the ships that pass by.
After Restoration…
^^ TS Queen Mary ^^
Friends of TS Queen Mary ~ Founders: Click Here (2)
None Too Shabby From An Obscure
Property Bulletin & Two Eccentric Friends
Apologies, we went off topic from beach huts there. Digression over. So what price is a sea view? Well anecdotally, given that the beach hut link below has only three brick walls and no toilet, with nothing much in the form of amenities…
^^ Beach Chalet ^^
Shore Road, Cowes, Isle of Wight, PO31 8LD
£47,000. Click Here.
Actually, these chalets are WORSE than just a set of three bare brick walls. Due to the by the fact, many beach huts/chalets are LEASEHOLD, means you will never own the structure! Worse. You will have to pay £1,000 RENT, each and every year.
^^ Beach Chalet ^^
Shore Road, Cowes, Isle of Wight, PO31 8LD
£47,000. Click Here.
All for nothing other than a brick and concrete bunker (above ground). It is fair to say you are really only buying a sea view…
^^ Beach Chalet View ^^
Shore Road, Cowes, Isle of Wight, PO31 8LD
£47,000. Click Here.
You have to bring all other creature comforts with you. Ergo, you are buying nothing of real value!
=> You pay £47,000 key~money for something you have to pay rent of £1,000 a year on. Last time we looked, “key~money” had a dubious reputation (here). So what exactly is the £47,000 being paid for?
It may be argued fairly and with some merit, that as “key-money” may be ultra vires (here), then what you are left with for the £47,000 (given you will need to pay £1,000 a year or more in rent) you are paying the £47,000 for a nice sea view!
A better place to be is the person who arranged this property transaction many years earlier! Some imaginative lateral-thinker bought this bland block brick building and now has six very useful forms of income (£300,000 in capital increase LEASEHOLD key-money and £6,000 a year income). The beach huts/chalet purchase deal is how you build your own unique property financial nest egg.
^^ Beach Chalet View ^^
Shore Road, Cowes, Isle of Wight, PO31 8LD
£47,000. Click Here.
Having written this somewhat unflattering narrative about beach huts and cabins, we have to confess to being beguiled by these places. Our MD shared the lease of a beach chalet in Felixstowe when he worked in London. There is something monastic, plain, simple, contemplative and very enjoyable about these sea view garden-sheds! Though it amazes us that there are hundreds of thousand of beach huts all around the U.K. Some sell for daft money.
=> A quarter of a million pounds for a shed that retails at B&Q for £500 quid.
Anyways, on an anecdotal basis, back when Bronto~Sore~Russ was a young nipper, the estate agents would say: “a sea view added £10,000 onto a property value”. Nowadays, it is more like £47,000. Or to be more accurate, the neighbours/fellow owners of these beach huts quoted £50,000 as the general amount expected. So there you have it. A totally unscientific feature on “What price is a sea view worth?” All the best, Calum (Russ is off today at a family matter).
Sea Hut/Chalet
Click Here
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