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Headline

RIBA Stirling Prize 2017 shortlist revealed

Comment

It's that time of the years again, when the Royal Institute of British Architects flexes its flabby muscles, and with the world's eyes upon it (well, the architectural world, that is), nominates 'the building in the UK which has made the greatest contribution to the evolution of architecture over the past year'. So let's kick off the ASH review of the six buildings nominated for this year's Stirling Prize. The Spruce Apartments comprise 6 new flats located at 42 Barretts Grove in what the estate agents call 'newly gentrified' Stoke Newington. In fact it's much closer to Dalston, so you can use the former address for your bank manager and the latter for your date. Part of the colonisation of the area as London's Hipster Central (though it's already looking like desperately untrendy Shoreditch), the apartments have all sold - most likely off-plan before they were built - except for the one on the ground floor, where you'll have to put up with drunk yuppies urinating on your wicket-basket balcony. Flat 6, presumably at the top (and therefore away from the micturaters) sold for £865,000 in January 2017. But let's be generous and look at 2-bedroom flat 4 and the figures you won't find in any architecture magazine (including this one): Sale price: £685,000 Rental value: £2,150 pcm Mortgage repayment: £1,818 pcm on a £500,000 loan Council tax: £162 pcm Estimated energy costs: £99 pcm Water charges: £26 pcm So, if you've got £185,000 lying around for a deposit, this lovely 2-bedroom apartment can be yours for just £2,105 per calendar month (not including broadband), which just happens to be exactly what Zoopla reckons you'll get from renting it out to a young 'professional' couple (i.e. account executives) too broke to break up. Welcome to our new home-owning democracy. What a contribution to the evolution of architecture! No wonder they're the bookies' favourites. Simon Elmer Architects for Social Housing

Posted date

30 September, 2017

Posted time

11:44 am

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