London Children Influencing Real Estate: Insights from Nick Millican

Asset manager Nick Millican, a real estate professional in London, is as horrified as the public regarding the state of some temporary social housing in London’s boroughs. He specifically worries about Meath Court in South Acton, run by the Ealing Council. Millican deals mainly with commercial property investments, but prime real estate near these deplorable properties may lose their value as the entire area declines.

Ealing Council meant for Meath Court to be temporary accommodation, Nick Millican recalls. The four story estate has 60 rusted stacked shipping containers. It looks like a pictu8re of a building in a war zone. Rents are very close to the area’s average rate. There is a dire shortage of housing.

Residents were supposed to stay for six months at most, but many have been there for more than a year. Anti-social behavior and crime is rampant at Meeth Court, according to police officers and residents. Nick Millican. who specializes in commercial investment properties, knows that crime will spread to nearby properties, decreasing their value.

It will turn off potential investors, real estate agent Nick Millican states, since they know no companies want to invest in buildings where their employees don’t feel safe (Crunchbase).

To make matters worse, the stairs are open to the elements, so anyone driving by can see the crimes occurring. Location is one of the most important factors to consider when purchasing investment commercial properties. As real estate agent Nick Millican finally states, social housing issues affect more than just the tenants who live there.