That works out at £9,391.44 per square yard.

From the FT:

The land originally formed part of a farm purchased in 1750 by the current owners, the Eyre Estate. The estate, a private family trust, has asked for offers of more than £225m, although Knight Frank, the agent handling the sale, expects the bidding to exceed £250m.

The barracks site has planning permission for 117 new homes that could have a total sale value of more than £1bn.

The 5.5 acre (2.2 hectare) site is located in exclusive St John’s Wood near Regent’s Park and Primrose Hill. St John’s Wood is one of London’s so-called “golden postcodes”.

I’d like to ask the Faux Lib’s and Homeys, exactly how much work and effort did this trust expend in order to increase the value of their farmland to ten thousand times as much as the value of ordinary UK farmland? Or did they just “punch the tree” and then wait patiently for three centuries while a capital city grew up around it?

Advertisements