Central London is an expensive place to buy a property, we all know. But the biscuit has well and truly been taken by a property being sold by Day Morris Estate Agents for £50,000 short of £1 million. Nothing strange there until it is realised that this property is a 3 bedroom mid sixties two story house without a garage, grass or a parking spot! Ok, its in Highgate, a very well sought after area where property prices regularly reach £4million plus and is home to various celebrities such as Sting and Kate Moss. Close by is one of the most expensive properties in Britain at an estimated £300 million so the purchaser of this property will be in esteemed company. A little consolation is the fact that the rebuilding cost for insurance purposes will be nothing like the market value… not that any prospective purchaser would be that interested in the premium savings. High value buildings insurance and high value contents insurance policies will not differentiate just because a property is expensive to buy, although one would expect a premium level of cover. If a property was empty in an area like Highgate, a cheap vacant property insurance would expect a good level of security to deter would be thieves, squatters and malicious damage.
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