Buy a building for a quid?

[Nemesis]

http://news.bbc.co.uk/1/hi/uk/6656365.stm

 

[alice]

This sort of thing is done in the States all the time. The gov't sells distressed properties for a pittance which are located in areas they want to build up, and the properties always have a lot of rehab strings attached. I think it's a good idea, if the end result is investment is in a slum area and to rehab of buildings that would otherwise rot and be left to squatters and druggies.

The strings attached to the buildings are that the buyers must invest a certain amount of money, build to standards, and not resell in a certain amount of time (to discourage speculation).

alice

 

[Nemesis]

The difficulty here is that so many buildings are 'public' but not strictly 'government' owned - hospitals for example, and schools, many of which are simply bulldozed, despite being solid buildings of some architectural merit, when new ones are built.

 

[Penners]

If a Government minister is prepared to sell you a building for a pound, count your fingers after you've shaken on the deal.

 

[Nemesis]

Here's the Groan today on the subject:

http://society.guardian.co.uk/communities/story/0,,2080034,00.html