x
By using this website, you agree to our use of cookies to enhance your experience.

TODAY'S OTHER NEWS

Britain’s biggest landlords begin selling off portfolio

Known as Britain’s biggest landlords, Fergus and Judith Wilson have started to sell off their 1,000 strong property portfolio.

The ex-teachers from Kent, thought to have built a £180 million fortune through buy-to-let investment, have confirmed the sale of 100 properties to foreign investors, the Financial Times has reported. 

The couple, who announced last year that they would be selling off their portfolio, are hoping to make around £100 million in profit.  

Advertisement

After originally planning to sell their whole portfolio in a single transaction, the Wilsons have since decided to sell the properties – predominantly two and three-bedroom homes in the south of England, in batches between now and the end of next year.

“The way we do it is nice and simple — we are first of all selling those that are going to generate the most amount of money after we have paid back the mortgage,” Mr Wilson told the newspaper.

“We didn’t sell at a discount — all at market price. Basically you’re lucky: I’m selling you houses with tenants that have never defaulted and not asking for a premium. The last thing you want to do is to kick a tenant who has done nothing wrong.”

Wilson also confirmed that the couple would sell another 20 per cent of their portfolio between now and September and plan to have sold around 40 per cent by the end of the year. 

“So we will sell nearly half our portfolio this year and half next,” Wilson added. 

The Wilsons have courted controversy in the past when Mr Wilson was found guilty of hitting an estate agent and earlier the same year after sending eviction notices to tenants on housing benefit.

  • Jon  Tarrey

    Urgh. The dismal face of landlords. Greedy, underhand, arrogant, above the law, a dream for tabloid journos - the fact that these two might be making £100 million in profit makes me feel more than a little queasy.

    Everything that is wrong with the PRS, these two.

  • Kenny Sahota

    @Jon Tarrey - Jealous?

    This just demonstrates in the most explicit way how profitable investing in property can be. It can create quite the nest-egg, if done correctly!

  • icon
    • 09 June 2015 12:34 PM

    'Hoping to make around £100 million in profit' - A staggering amount. Anyone considering BTL as a source of income will surely be slightly swayed by this story. They're renowned for their ruthlessness but isn't that something to almost be admired for?

  • icon

    This is a clear demonstration of initiative - and why not if it actually worked for them?

    However, as Jon quite rightly said going for £100 million in profit can be seen as 'greedy'.

  • Jon  Tarrey

    @Kenny - no, not at all. I actually have a conscience. Have you not seen these two in the news? I think they were even voted as Britain's worst landlords at one point. The mere fact they can make £100 million from providing accommodation to other people is depressing. The fact that they are then lauded as entrepreneurial wizards who should be held up as a beacon of success is ludicrous in the extreme.

    Two people shouldn't be allowed to own 1,000 properties when other people are struggling to even get on the ladder. All they were doing is hoarding more stock and then milking it for as much as it's worth. No wonder the public has such disdain for buy-to-let landlords like the Wilsons.

icon

Please login to comment

MovePal MovePal MovePal
sign up