The property developer converting the infamous Centre Point building in London has stood down estate agents who had been marketing luxury apartments in the tower, citing offers that were “detached from reality”.
The apartments are still on sale, however, with sales being handled by Almacantar’s in house sales and marketing team.
The building also shares its name with homeless charity CentrePoint.
Campaigners had staged an occupation of the tower when it was first built, for business use, in 1974 and left empty for many years while the owners saw its value increase.
The current developer, Almacantar, describes the refurbishment on its website as one of its “most ambitious schemes, which involves the transformation of the iconic Grade II listed building and creation of the West End’s newest culinary destination and public square at the base of the tower”.
Mike Hussey, chief executive of Almacantar, said: “Offers are now reflecting uncertainty on potential changes to Stamp Duty, taxation of overseas investors and other fiscal policy proposals.”
Hussey said half of the developments had been sold and that there was “no point in chasing a market that is increasingly detached from reality”.
He said buyers may be more comfortable to pay the prices after Brexit.
The move has prompted criticism on the Guardian letters pages.
One said: “A short walk up Tottenham Court Road, where there are several rough sleepers, might lead him to contemplate the morality of these actions, and to consider exactly who is ‘detached from reality.'”
https://www.theguardian.com/society/2018/oct/31/a-decent-home-should-be-the-right-of-every-citizen
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