Council concrete makes a property investment comeback

photo credit: nick farnhill

You haven’t really made it in the world of property until you’ve invested in a trendy, modern, decked-out-in magnolia flat, right? Wrong. According to The Times, despite the fact that London’s Robin Hood Gardens is soon to be demolished, tower blocks from the 60’s, 70’s and 80’s are making a comeback. Glass and brick are out, concrete is in.

These blocks are now considered to be a significant part of the country’s architectural heritage and represent an ideal for urban living. The flats tucked away in these ‘brutalist blocks’ are very sought after and, dramatic though it may sound, ‘worshipped’ by young urbanites, architects and designers looking for a bargain.

“Distinctive and distinguished”

Quoted by the The Times, Steve Bee of English Heritage describes London’s listed housing estates as “distinctive and distinguished, with architectural integrity.”

So despite the monolithic design on the outside, don’t judge a flat by its cover because you could be onto a winner. Towers which once housed council flats are the place to pick up a bargain. The Times uses London’s Fifties Golden Lane estate as an example; it was commended this year in the Housing Design Awards but flats here cost ten per cent less than the always-private option next door, which was designed by the same architects.

Beware of Burberry

But does it take more than a few designers and young professionals moving in to make an ex-council estate a viable area for property investment? Let’s face it, they don’t have the best reputation for quality of life. So it certainly sounds like a possibility, but only as long as the whole estate has moved on and you’re not surrounded by Burberry-clad pillars of society who gather outside your door comparing weapons and drinking White Lightning all night.

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