Spoon-bending sale: how to win a new 1-bedroom flat near London for £5
Magician Uri Geller is set to make one lucky punter’s home-owning dream come true by drawing the winner of a new property raffle.
There is still time to enter the competition, run by developers Equinox Living, with unlimited entries costing just £5 a pop.
The 330sq ft flat is on the ground floor of Abbey House, a new block of 40 one- and two-bedroom apartments that is due for completion in August.
The contemporary home, aimed at first-time buyers, has been designed to maximise usable space.
The kitchen by Italian design company Arta Cucine features solid quartz worktops and a Bosch oven and dishwasher. The washing machine and dryer are kept in a separate utility room and there is a rain shower in the spacious bathroom.
Other highlights of the unfurnished apartment include the fully-fitted mirror wardrobes in the double bedroom, the secure video entrance system and the Hyperoptic broadband that is over 27 times faster than the average UK broadband.
Equinox Living will be covering stamp duty costs and paying legal fees up to £2,000. Bear in mind, however, that ground rent is estimated to be £300 per year and service charge £1,100 per year.
CAN YOU COMMUTE TO LONDON?
Modern Abbey House is found down a quiet street near Bracknell town centre, which is currently undergoing a £240 million regeneration project.
In the Home County of Berkshire, to the west of London, Bracknell is roughly halfway between Reading and Guildford, with direct trains to Waterloo taking an hour.
The raffle flat would be well-suited to young professionals looking for a commuter home or working in the local area, with Hewlett Packard, Honda, Panasonic and Vodafone among the big name companies based here.
HOW TO ENTER THE RAFFLE
Entries close at midday on 30 November. Geller, chosen to take part because “he is well-respected”, will draw the lucky winner that afternoon using audited random selection software.
The draw can be watched online here and the results will be emailed to all participants.
To be entered into the draw, you must be an adult UK resident and answer three simple questions correctly. You can enter as many times as you like for a fiver a ticket. You will be given one extra free ticket when you buy 10, three extra when you buy 20 and 10 extra when you buy 50.
Ten per cent of all profits will go to LandAid, a property industry charity that helps young homeless people.
“I wish everyone who enters good luck and can’t wait to introduce the winner,” said Geller. “It is exciting to be involved with this competition, which is the first of its kind for a new development.”
If not enough tickets sell to cover the flat’s value and associated costs, the developers will give away a cash prize equal to all funds raised through ticket sales, minus the set-up expenses.
WHY WOULD A SELLER OPT TO RAFFLE THEIR PROPERTY?
Raffling off property can lead to a “hassle-free” sale, with no chain or mortgage lenders to deal with, and in some cases help London sellers secure a better sale price in the current market.
Independent property advisor and commentator Ed Meads said: “You’ve only got to look around at the success of online gambling, bingo and lotteries. Anything that taps into that psyche is likely to yield them a better result than selling on the open market, because there’s quite a lot of uncertainty around at the moment with Brexit, the Budget and stamp duty.
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