Saturday 18 November 2017

The Punt: Back of the net for Raul, again

REAL MADRID'S RAUL CELEBRATES SCORING DURING SPANISH FIRST DIVISION MATCH IN MADRID...Real Madrid's Raul Gonzalez celebrates after scoring his second goal against Valladolid during their Spanish first division match in Madrid September 13, 2003. REUTERS/Paul Hanna...S
REAL MADRID'S RAUL CELEBRATES SCORING DURING SPANISH FIRST DIVISION MATCH IN MADRID...Real Madrid's Raul Gonzalez celebrates after scoring his second goal against Valladolid during their Spanish first division match in Madrid September 13, 2003. REUTERS/Paul Hanna...S

IT seems Raul can't stop scoring. The all-time record goalscorer for Real Madrid has been dabbling in property on the side and it appears he is doing very well for himself in that business too.

The former star striker, pictured below, has flogged a prime office building in London for just under £15m (€21.1m).

CoStar News claims the sale of 33 Cornhill in the City of London equates to a yield of 2.96pc. That's among the lowest to come in the current market boom.

Raul will net himself a tidy profit on the property, which he bought through a fund manager for £9.85m back in 2007.

The 12,616 sq ft asset comprises a Grade II listed mixed-use building arranged over seven floors, providing retail space on the basement, ground and mezzanine floors and office space on the remaining five upper floors. Refurbished in the 1970s, 33 Cornhill sits on the southern side of Cornhill.

There are growing concerns that the global commercial property market is in bubble territory, but for now it seems there are still buyers happy to fork out for major office blocks.

Raul used to time his runs perfectly when on the pitch for the Spanish giants. He may have timed this sale perfectly as well.

London's €1.7m council flat

House buyers in Dublin may have been feeling the pinch of the rapidly rising property prices in amid a glut of supply, but spare a thought for those looking to buy in London.

Always a hotbed of high residential prices, a new record was hit there last week. A former council flat changed hands for £1.2m (€1.7m), in what is thought to be a new record.

British media reported that the couple who sold the property made an 800pc profit, having bought the three-bedroomed property near Covent Garden for around £130,000 in 1990, under the so-called right-to-buy scheme.

The state-backed programme allows council tenants to buy their home at a discount.

In fairness, the flat is in a pretty handy location.

It is just a stone's throw away from the Royal Opera House, and is in a private mansion block which was once owned entirely by Westminster Council before being sold off.

The 'Evening Standard' reported that earlier in the year a two-bedroom ex-council flat in fashionable South Kensington was put up for sale for more than £1m.

Crazy.

Bike to work and Brompton

How many of you cycle to work? Quite a lot, we'd guess. If the roads around Dublin are anything to go buy, it seems most people in the city at least cycle in the odd time.

The Punt cycles to the office occasionally as well. The problem we face is that, being so hardworking (or just a little bit lazy), we often cycle in but don't want to cycle home. Of course we can't bring our bike on the bus home.

One solution would be from Brompton Bikes, with a folding Brompton we can take anywhere. The folding bikes have become enormously popular in recent years. City workers in particular are only too happy to ride them to work, then have them folded up beside their desk, and then either cycle them home, or take them on public transport.

It's no surprise then that Brompton has capitalised on its growth and is planning to increase production to 100,000 bikes per year by 2021.

They may look funny with their small wheels, but after 40 years in business, Brompton have proved themselves as a successful business.

With the growth in cycling to work it looks like their business is here to stay, especially if workers are too tired to bike home.

Irish Independent

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