Buying a beach-hut for between £40K & £165K -or encouraging people to put more of them on freelender.org; your choice !!

Beach hut goes on sale for £40,000

Jan 14th 2010 article from http://www.walletpop.co.uk/2010/01/14/beach-hut-goes-on-sale-for-40-000/

Filed under: Property, Weird and Wonderful
A boarded-up beach hut in a prestigious seaside resort on the east coat has gone on sale for a staggering £40,000 – even though it is missing a door, the roof is falling apart and paint is peeling off.

It has already attracted a number of offers. It is a telltale sign of our obsession with owning property, even if it's just a small wooden shed.

Even the estate agents selling the hut 242 in the seaside resort of Southwold, Suffolk, have warned would-be buyers that it is in "quite poor condition". It has no water, gas or electricity and measures five foot by seven foot. But they also stress that it has a lot of potential and can be made to look good again.

Despite the recession, demand for beach huts is very high along the east coast and there is a waiting list. Some beach huts in Southwold have sold for £100,000 plus.

Apparently the priciest hut to date was sold at Mudeford, Sandbank, Dorset. It fetched £165,000.

Defenders of beach huts will point out that they are an English institution.

Gun Hill, where the hut is located, is said to be an exclusive area because the beach is very long and sandy. So it could be argued that people are not buying a tatty old shed but a rare plot on the beach.

On the other hand, it seems like madness. With the housing market the way it is, you're not guaranteed to make a big profit – or any profit – on property purchases for some time to come.

And who on earth has £40,000 for this sort of frivolous spending at the moment?"