Wednesday, June 8, 2016

In Which Bendor Grosvenor Learns Of A Scottish Real Estate Speculation Should Britain Depart the EU

Not exactly real estate on the scale of his cousin (fourth, once removed), the Duke but still....

In yesterday's "Questions America Wants Answered: How Will Brexit Affect The Art Market?" I amused myself with the provincialism of the headline question, somewhat akin to the old joke about the small Italian town that sent its most esteemed resident, a tailor by trade, to represent said villaggio at an audience with the Pope. Upon his return from Rome the citizens crowded around and asked "What kind of man is Il Papa?

Their emissary replied, "About a 42 regular".

Anyway.... After we linked, Mr. Grosvenor posted some updates to the original piece including:
...Update III - I'm informed, however, that there may be a silver lining for me personally if the vote goes for 'Leave':

...Brexit might benefit you and your property value as well.

If Leave win then Scotland [where his Art History News lives] will leave the UK and promptly rejoin the EU which will be a great boost to the Scottish economy as those companies and institutions that want to be in the EU flick north. A great demand for prime Edinburgh property will occur and a demand for appropriate art to fill the offices. You win personally with either result. What a world. 
Speaking of His Grace the Duke, and real estate, I guess I hadn't realized just how amazing the price appreciation actually has been in the Mayfair section of his Grosvenor Estate. Yesterday FT Alphaville's Matthew Klein retweeted this real estate listing on Aldford Street--which used to be Chapel Street--just down the block from the Grosvenor Chapel:

I don't know how it strikes you but £25 million seems a bit pricey to me.