3 ms·
The Duke of Westminster owns a large chunk of Mayfair and Belgravia, and is the third richest man in the UK because of it. I do wonder whether he plays Monopoly
by cmdkeen 11y ago
The Duke of Westminster owns a large chunk of Mayfair and Belgravia, and is the third richest man in the UK because of it. I do wonder whether he plays Monopoly, and if he starts with Mayfair...
The thing is that there is actually an awful lot of land, and in the UK it is very expensive - the capital cost to buy it all up would be enormous, and thanks to the market only get higher as supply reduces. You're then vulnerable to other market forces and competing with other cities or areas. Canary Wharf is a good example of the established rules being upended and a brand new corporate part of London being created.
The value of all London property is currently estimated in the £1.35tn range.