Graham Norwood asks four professionals, including Sarah Beeny, how to win in property
'The Telegraph'
Dicey business: We've all battled it out on the board, but how do you win in the real game?
Monopoly is as much a part of Christmas as dozing in front of the Queen’s Speech and rowing with the relatives. But does it translate into reality? We asked four leading experts to take a look at the London market and tell us which square represents the best real-life investment and how they would play for profit.
Player: Sarah Beeny TV presenter and property developer, founder of www.tepilo.com
Sarah played Monopoly every year as a teenager. “It taught me everything I needed to know about property,” she says. But she admits pretending not to know the rules to maximise her position. “I made it up as I went along to see what I could get away with. I would build multiple hotels on multiple sites, carrying on until someone was brave enough to stop me.”
Sarah wants to land on Old Kent Road, the only location on the board in south London and the game’s cheapest address.
She has a canny reason for doing so. “In reality Old Kent Road is miles from Park Lane, but on the Monopoly board it’s just around the corner. I reckon buying a cheap site near an expensive upmarket one is the right thing to do in the current market. The affluence might spill over to the neighbouring area.” Interestingly, for someone who has made a career out of restorations, Sarah would not gut the homes for resale. Instead she would knock them down, and encourage Hilton and Radisson to build towering hotels on the sites. “The image of the Old Kent Road would be transformed if it were known for good hotels,” she says. “House prices might rise too. Everyone would benefit.”
Old Kent Road fact file
A typical two-bedroom apartment: £180,000
A three-bedroom house: £450,000
Key move: The area is heavily populated CONTINUED via 'THE TELEGRAPH'
