London’s Richest Residents Will Be Children


We all know that in the United States 1% of the population owns 99% of the wealth, but clearly the unequal distribution of money affects the rest of the world too. Although the 36-floor Heron Tower, situated in London’s Square Mile, is reckoning to offer flats from half a million, it will also house the city’s most expensive apartments, going at twice the floor space value of any comparative sites. The penthouses will be so expensive that nobody at the Heron’s sales office has even valued them yet.

And the publicity material for London’s Heron Tower has revealed an astonishing fact. The most likely residents are likely to be children, as overseas buyers snap them up so that their kids can use them while they’re at university. Two thirds are already sold.

While there’s always someone rich and stupid enough to pay this kind of money (how else can you explain why anyone would spend £60 on a ticket to ‘The Lion King’?) if they really wanted to give their kids a preparation for student life they should rent them a flatshare in Enfield with a hall full of bicycles and a tin of baked beans in the fridge.

5 comments on “London’s Richest Residents Will Be Children”

  1. Matt Brown says:

    The picture is of the Heron Tower (entirely commercial space), not the Heron residential building that you’re commenting on. That’s over near the Barbican. Confusing, huh?

  2. admin says:

    Thanks Matt – sorted!

  3. Helen Martin says:

    Part of going to university is the friends you make, otherwise known as contacts. If you’re living up there what friends are you going to make? I watch foreign language students coming in to downtown from their hosting families (a bit different, I’ll admit) chattering with classmates and making dates for coffee and library research and bet that they’ll take home better memories & knowledge than pampered children in high end suites. Living on a pittance and scraping together enough for a Sat. evening out is not such a bad thing. You notice that I don’t say it’s character building or anything.

  4. Gretta says:

    That building, if you don’t mind me saying, looks pretty damned ugly.

    University digs in Dunedin are legendary for their cruddiness. The Otago Student Assoc even hands out awards for the worst ones. True.

    Last night they had about the Olympic village on t’news, and how after the Olympics it would be a huge benefit to the East End, yada yada. And my first thought was how many people in the East End will be able to afford one of those flats.

    And then there was that situation a few years back of someone selling what amounted to little more than a cupboard in C&K for a million quid, or something equally ridiculous.

  5. Helen Martin says:

    The Vancouver Olympic Village was supposed to provide subsidised housing as well as market stuff and be green as well. The green aspects are providing some technical problems I understand, some of the market housing is also troublesome and the subsidised portion was considerably reduced from the original plans. How bad is it for families in Vancouver? Part of the plan at one point was to give priority to fire fighters, police officers, teachers and health care workers so that in case of disasters the public service wouldn’t be an hour away out in the Valley. You should have heard the screams from the general populace! They removed that aspect.

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