high rise car park

8 Sep

london 9.46pm. 17C dry night saturday 2018

i was walking to bond st tube station, from the marylebone library, and saw a block of new build luxury flats , it was an old building being renovated , rather than demolished; it is a way of quickly altering the use of a building and( at reduced cost too instead of building a whole new structure), in this case to luxury flats, which will sell i think because it is in a very good location, just north of oxford st and near marylebone high st. it is completely buried under scaffolding at the moment. the property developer is quite clever, renovate the interior instead of building a whole new building from scratch. he can turnaround very quickly and sell the flats quickly. 

and opposite it was a specially built high rise that is all car park. it was all dark and unused but it might be shut for the weekend… i thought it was still working as a carpark and wondering how  they were able to manage and wondering if they can still make lots of profits in operating a car park in central london. but it seems they cannot  and have sold the land. i was reminded of this building  just now when i was reading a blog and it mentioned this 60s carpark in welbeck street had been sold to a hotel group and will be demolished. googling it, i find this link that says it was sold for £100million in 2016 for a luxury hotel. it was built to serve as a car park for debenhams , the department store. you can imagine how cheap land prices must be in the 60s, that a whole building can be built on land just for parking cars.

"Stunning" car park will be demolished to make way for Eric Parry-designed hotel

this car park building failed to get listed. that is why it can be demolished. and it is the land that is valuable. but its been 3yrs since it was sold and nothing has been done to build that hotel … its quite possible the delay may be due to that failed effort to get it listed…so i think they might have second thoughts about it. someone else might come and make an offer now that it had failed to be listed. that land will be more valuable now. though i think it will be another luxury flats high rise if they dont want to build another hotel.  how many flats or hotels can london absorb, i wonder? allready there is a glut of them, i think.

when u think of it, there is a very limited number of projects that u can put in its place that will make money. 

 

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