You write that when the Centre Point tower in central London was first completed in 1966 it could not attract high enough prices, as now (Centre Point joins list of luxury ‘ghost towers’, 31 October). In fact the then owner, Harry Hyams, intentionally left the commercial space empty on a rapidly rising property market, because he made more money waiting to lock tenants in to higher rents on five-year leases which returned more than enough to cover the rent initially forgone. Furthermore, Centre Point did not “lend” its name to the youth homelessness charity Centrepoint. As Ken Leech – the radical vicar of St Anne’s church in Soho at the time – once told me, he and other founders of the charity took the name in order to confuse the postman. He said the hope went unrealised for many years. More importantly, the hopes of a decent home for all that fuelled the founding of charities such as Centrepoint and Shelter are also unrealised still. Rising … [Read more...] about A decent home should be the right of every citizen
Rent vacation homes
Nancy Trejos USA TODAY Published 8:56 AM EDT Oct 24, 2018 Many travelers think of the Bahamas as a college Spring Break destination. But there’s a sophisticated side to this island chain. The opening of the $4.2 billion Baha Mar resort in Nassau last year has added more luxury to the Bahamas, with three upscale hotels, the largest casino in the Caribbean, dozens of restaurants, art exhibits, an 18-hole Jack Nicklaus Signature Golf Course, and high-end retailers such as Bulgari, Chopard, Cartier and Rolex. The Bahamas consists of 29 islands and more than 600 cays (sandy elevations atop coral reefs). Outside of the capital city of Nassau, the so-called out islands can be calmer and less trafficked. Many of the islands have pristine beaches and opportunities for diving, boating and exploring nature. The Abacos, for instance, form a 120-mile long chain of islands with golf courses and colonial towns. The Exumas have ultra-private resorts and less-visited beaches. That gives … [Read more...] about Dream homes for sale in the Bahamas
In countries like Greece and Italy, just 15pc of homes are under-occupied, with inter-generational living commonplace. But returning larger family homes to a market where it's badly needed causes older people concern. There may be nowhere suitable to move, even if it makes financial sense and our obsession with property inheritance makes it culturally challenging. Also many quite reasonably feel they have paid their dues (and mortgage) and shouldn't be under pressure. Incentives to encourage older people to vacate prized housing may well make a Budget day appearance. This week I'm looking at down-sizing for those who are considering it. Advantages - There is no Capital Gains Tax (CGT) liability on selling your principal private residence, meaning you keep all the money and become a cash buyer for a new home, putting you ahead of mortgaged buyers. - Freeing up cash can supplement your income in retirement, to travel or invest, or you could buy two properties: one to live in, one to rent … [Read more...] about Home alone 2: should OAPs sell up?
Boris Johnson has refused to budge from his £20million taxpayer-funded mansion, as Downing Street admitted he could still be there for “weeks”. There is growing anger as he remains at the luxury official residence, despite resigning as Foreign Secretary 12 days ago. The Tory MP was today spotted sheepishly leaving the mansion, with two large suitcases packed in an awaiting car for him. But wife Marina Wheeler was understood to still be in the home today. A No10 spokeswoman said: “He’s leaving within the next few weeks.” Mr Johnson refused to answer questions on his living situation when confronted by the Mirror at the property. Two taxpayer-funded, unmarked police cars with four staff waited for two hours at One Carlton Gardens in Central London as the MP readied himself. Mr Johnson was whisked away in a Jaguar, with the suitcases in a 4x4 BMW. He has raked in thousands from renting out a home just four miles away in Islington, North London, while he … [Read more...] about Boris Johnson won’t budge from rent-free taxpayer-funded mansion for weeks
If you think Airbnb created the concept of the short let, where someone vacates their home for a fortnight in return for cash, think again. Tennis stars such as Andy Murray, Rafael Nadal and the Williams sisters now preparing for Wimbledon have for years chosen to lodge in private houses when playing at the All-England Club. The same goes for broadcasters, officials and visiting dignitaries who want to avoid long journeys to hotels. Of course, it all comes at a high price: Tennis London, a specialist agency finding accommodation close to Wimbledon, is advertising a three-bedroom house five minutes’ walk from the tournament for a cool £5,200 a week. A five-bedroom property slips over the net at... Register for free to read this article, or log in to your Telegraph account Register Log in … [Read more...] about How to rent out part of your home at big sporting events