Squatter’s Land Skyrockets to $8 Million

Harry Hallowes pricey digs

That’s Harry Hallowes. Harry is a squatter in merry old England. Seems 71 year old Harry decided to pitch his tent on vacant land next to these fancy digs:

Athlone House

That was back in 1986. Well, lucky for Harry, a squatter can get title to land under the common law principle of adverse possession after 12 years in the UK (the US has similar laws, provided certain prerequisites are met) And that’s exactly what ‘ol Harry did last year. In May, 2007 a court awarded Mr. Hallowes title to the land he had called home.

At the time the merry squatter got title to his 90 sq. ft. piece of Highgate, it was worth £2 million ($3.9 million). Real estate values may have fallen in a lot of places but not in HH’s neck of the woods– the value of his land has doubled and is worth a cool $8 million. Blimey! The value has skyrocketed because his neighbor is developing Athlone House, a former convalescent home, into luxury flats, which will make it possibly the most expensive home on earth at £130 million. “Cash poor, land rich” Harry sure knows how to pick his neighbors.

Where Harry squats:

I wonder if Harry picked the spot because of the view:

Mr. Hallowes is free to sell his land but says he won’t. “Do I look like the type that would sell and go jetting all over the world”, said Harry when he won the land, admitting to a lazy streak. He said if he wrote a will, he’d leave the land to the Royal Family. Hmm…now that the land value has doubled, I wonder if ‘ol Harry still feels the same. No doubt.

Sources: Findaproperty.com; Daily Mail (UK)
Further Help for the Homeless:

Advisory Service for Squatters (UK) (which publishes the Squatter’s Handbook)

In case you didn’t know, the squatters are getting organized. Here is their international symbol.