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

[AtW]

"A 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%."

Ex-council flat in central London sold for record £1.2m | Money | The Guardian

That's ****ed up, so much got great Thatchers' idea to sell council flats on the cheap - could have been sold now for millions to repay Govt debts and poor sods living in them forcibly moved to slum it somewhere grim like Birmingham

[SueEllen]

Councils have to wait until current tenants drop dead as it's against their human rights.

[alphadog]

Yep, RTB was probably Maggies most enduringly bad policy blunder and it will continue to echo through the generations

[LondonManc]

Yep, RTB was probably Maggies most enduringly bad policy blunder and it will continue to echo through the generations

Unfortunately she didn't appreciate the level of sewer rat in the country and the inherent greed that a capitalist environment creates. But that's the problem we've had for decades as the country flip-flops between socialist and capitalist governments to divert attention from the real issues.

There isn't a level playing field but there needs to be a more pragmatic one. I'd see a government co-led by Richard Branson and Stephen Fry as far more inspiring than this bunch of clowns.

[PurpleGorilla]

The plutocrats are raising their ramparts using gold bars whilst the great unwashed scrabble for scraps.

[DimPrawn]

The plutocrats are raising their ramparts using gold bars whilst the great unwashed scrabble for scraps.

No I'm not, I'm drinking coffee and laughing at you.

[PurpleGorilla]

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

No I'm not, I'm drinking coffee and laughing at you.