Re: Fracking - fame at last for Lancashire
Marge - it's far from a guarantee that I'll make any money on the properties. Renovation cost is substantial (tens of thousands for each building) because like so many properties in the town the previous owner let them to go to ruin. Not quite a pigeon coop like say the Conservative Club but not far off.
Once renovated who knows if I'll find a tenant, or a buyer. Noone wants to buy into the town - that's why the prices are as they are, but even then they don't attract buyers. Those Warner St properties failed to get any bids at 50k the pair the month before the auction I bought them (one of your best streets apparently), and the Hope & Anchor remains unsold after years at auction.
If I make a profit on it you'll begrudge it. If I don't you'll doubtless welcome that. However, in reality you should not look to the council or government to renovate the towns buildings - they won't do it and can't afford it. What the town needs is private people to take them on, preferably using local labour (exclusively in my case) and you should hope that they make some money on it to encourage them to take on other parts of the town.
Sam hit the nail on the head, a point that merits discussion particularly around solutions.
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