Wanstead property: Spare any change?

georgecparker200x212Wansteadium property blogger George C Parker writes:

* What does half a mill get you these days in Wanstead?

According to Zoopla, five hundred bags gets you half of a 6-bed, 3-bath Seagry Road “period, detached, gated” house – a most noble location. Or it might bag you a pair of flats in the Herons, on New Wanstead, which have been changing hands for around 250k. The leftfield suggestion – one could also choose to put the money out to grass by purchasing the ‘Evergreen Field’ from its current owners. This week the Wanstead Guardian reported that Dalco Developments are willing to forgo their dreams of improving an eyesore on behalf of an ingracious populace. We wish them well in divesting themselves of this particular asset, and hope that if it works, the 250% return on their purchase price will be some compensation. (Thanks also to reader Diana who spotted the said property on Rightmove – feast your eyes on this, Wanstead.)

* Some people can’t resist a challenge. These cavaliers – these doers of derring, er do , are a different breed to the average Joe. They are the visionaries, a mega-motivated cadre of high fliers who’d climb Everest in the morning only to get bored five minutes after lunch. No doubt they’d head off to solve 300 Rubik’s cubes with the stickers removed, while smeared in sardine paste and weighted to the bottom of the orca enclosure at feeding time at Sea World. No limits, except those we set ourselves, say these people (they’re mostly estate agents). Like the guys who try to market a so-called “Unsellable House” down near the park gates in Aldersbrook. It’s been empty a decade, bought for 106k, and has been sorely messed with. What’s wrong with it? You’d have to remove the concrete foundations of a clandestine attempt at a garden house, and make good a stab at undermining the front garden, like the toffs do in Eaton Square. The poor old house is now a broken tooth in the middle of an otherwise respectable, English smile, to the infuriation of neighbours. Most of the local agencies have had a crack over the years, with the same result every time – there’s currently a three-month old Foxtons sign outside. Say no more.

* Here’s what I’d be tempted to do with the field fund – a very handsome, immaculately modernised Mansfield Road terrace with 3 bedrooms which has just come to the market with Douglas Allen. A couple of minutes stroll into the village where one can wander past the old Evergreen Field whenever one’s fancy is tickled.

*I’m afraid that the eyewatering rent being asked for certain vacant High Street units is stifling the process of replacing such stalwarts as Santa Fe and Rio (who we are very sorry to see leaving the High Street). One beautifully renovated, but as yet unfilled shop is being offered for a modest bounty of 25k per annum. Parker’s Glorious Emporium for the Ideal Wanstead home (my ambitious project for November) would be hard pressed clearing five hundred quid a week just for rent – tough times indeed in the brass knocker trade. Perhaps next year.

You can contact George at georgecparker@wansteadium.com

6 thoughts on “Wanstead property: Spare any change?”

  1. This was attempted years ago when the site was under threat. A fund was started and many local people pledged money but nothing came of it. I wouldn’t be willing to contribute to DALCO’s £300,000 profit on the resale. Why didn’t Redbridge purchase it when it came up for sale last year? It was peanuts money then and this company speculated. Now their grand plans have been scuppered they are really taking the mickey with the asking price.

  2. Marvel Estates put this up about 6 months ago on Rightmove. I phoned them about it to ask what was going to happen to the other half (because I’d read here that Dalco owns the whole thing) but they said it was “owned by someone else”, then never got back to me when I asked who. I assume the estate agent have just put it up here speculatively, to see if there’s any interest, in the hope they will be hired by Dalco if they find a buyer. TBH, I doubt it’s actually for sale.

  3. Just read the Guardian article about the sale of Evergreen Field. Correct me if I am wrong, Dalco bought ALL the land a year or so ago for £200k. Now they are looking to sell HALF the land for £500k!!! Surely it must be a misprint.

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