Scunnered Posted June 8, 2015 Share Posted June 8, 2015 Telegraph: Buy-to-let tycoon Fergus Wilson: 'I sold 50 Ashford semis to a Chinese estate agent' Controversial landlords Fergus and Judith Wilson have sold 100 homes in Ashford, Kent, as they begin to unwind their vast buy-to-let portfolio. But Mr Wilson who first told Telegraph Money in September 2014 that Chinese investors were among the interested buyers has now confirmed that one China-based investor bought 50 of the properties. The buyer plans to sell them on to other, China-based buy-to-let investors, Mr Wilson said. "He's selling them on in China on an individual bases," Mr Wilson said of the buyer. "I believe he had the other owners back in China already lined up." The properties went for an average of £250,000. Most were already tenanted. Mr Wilson said he dealt with the buyer with the help of an interpreter. [lots more...] Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted June 8, 2015 Share Posted June 8, 2015 Mr Wilson said he dealt with the buyer with the help of an interpreter. The mind absolutely f*cking boggles as to how that conversation went. Quote Link to comment Share on other sites More sharing options...
John The Pessimist Posted June 8, 2015 Share Posted June 8, 2015 Surely the sale to an EA for onward sale is the most expensive and costly way of doing this? Stamp duty should be levied on both transactions, as would conveyancing etc. It doesn't stack up IMHO...... Quote Link to comment Share on other sites More sharing options...
Ash4781 Posted June 8, 2015 Share Posted June 8, 2015 I thought the delay might be investment bank / professional services setting up a special purpose vehicle. Maybe there is behind the scenes. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 8, 2015 Share Posted June 8, 2015 Money's probably in the post. China yanked bank its bank lending. Doubt they'd let OK someone borrowing ~20M for some crappy houses in Ashford. I call BS. Quote Link to comment Share on other sites More sharing options...
pipllman Posted June 8, 2015 Share Posted June 8, 2015 100 gone, 900 to go? is there some sort of dodgy selling scheme a la Challenor / property club type operation going in China to move them on? Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 8, 2015 Share Posted June 8, 2015 Money's probably in the post. China yanked bank its bank lending. Doubt they'd let OK someone borrowing ~20M for some crappy houses in Ashford. I call BS. Maybe it was just a particularly large order from his local Cantonese takeaway and he got confused by all the two digit numbers... Quote Link to comment Share on other sites More sharing options...
TheCountOfNowhere Posted June 8, 2015 Share Posted June 8, 2015 It was a hundred yesterday. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 8, 2015 Share Posted June 8, 2015 It was a hundred yesterday. All those sweet and sour chicken balls, prawn crackers, wonton soup etc. Easy to get confused with a big Chinese takeaway order. Quote Link to comment Share on other sites More sharing options...
XswampyX Posted June 8, 2015 Share Posted June 8, 2015 One burp later and you're ready to order another 100. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted June 8, 2015 Share Posted June 8, 2015 They love Fergus back East, or 'Brother Mother Hair Lolita Legs Fat' as they call him. Here's a documentary crew in Ashford chasing a scoop. Quote Link to comment Share on other sites More sharing options...
spyguy Posted June 8, 2015 Share Posted June 8, 2015 It was a hundred yesterday. It was, too! Maybe the fat stnuc investment strategy is nothing more than early onset Alzheimers? Quote Link to comment Share on other sites More sharing options...
thecrashingisles Posted June 8, 2015 Share Posted June 8, 2015 Maybe it was just a particularly large order from his local Cantonese takeaway and he got confused by all the two digit numbers... So you want number 17, number 45, number 89 and number 34? Which street? Quote Link to comment Share on other sites More sharing options...
shindigger Posted June 8, 2015 Share Posted June 8, 2015 They love Fergus back East, or 'Brother Mother Hair Lolita Legs Fat' as they call him. Here's a documentary crew in Ashford chasing a scoop. Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 8, 2015 Share Posted June 8, 2015 So you want number 17, number 45, number 89 and number 34? Which street? PickupintwentyfiveminutesOK Street Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted June 8, 2015 Share Posted June 8, 2015 The mind absolutely f*cking boggles as to how that conversation went. Heard the one about the Chinese Godfather ? ...... Quote Link to comment Share on other sites More sharing options...
Bloo Loo Posted June 8, 2015 Share Posted June 8, 2015 trouble with one Chinese buyer, you need another 20 to finish the deal a few hours later. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted June 8, 2015 Share Posted June 8, 2015 Chinese the only ones with the money to buy? Quote Link to comment Share on other sites More sharing options...
MattW Posted June 8, 2015 Share Posted June 8, 2015 Fergus flogging 50 semis. That's a mental image I don't want. Quote Link to comment Share on other sites More sharing options...
XswampyX Posted June 8, 2015 Share Posted June 8, 2015 What about his missus flogging one of his semis? Quote Link to comment Share on other sites More sharing options...
long time lurking Posted June 8, 2015 Share Posted June 8, 2015 My money is on fatty, has advertised 50 semis with a Chinese EA counting chickens comes to mind ,he's been on the verge off selling up since 2009 Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 8, 2015 Share Posted June 8, 2015 Fergus flogging 50 semis. That's a mental image I don't want. Is "flogging your semi to the Chinese" some kind of euphemism? Quote Link to comment Share on other sites More sharing options...
darwin Posted June 8, 2015 Share Posted June 8, 2015 My money is on fatty, has advertised 50 semis with a Chinese EA counting chickens comes to mind ,he's been on the verge off selling up since 2009 This Quote Link to comment Share on other sites More sharing options...
longgone Posted June 8, 2015 Share Posted June 8, 2015 (edited) why not make the houses part of a LTD company and just dump the lot in one go or clump 100 houses per ltd company ? Edited June 8, 2015 by longgone Quote Link to comment Share on other sites More sharing options...
Si1 Posted June 9, 2015 Share Posted June 9, 2015 The simple fact appears that he doesn't seem to be able to offload them to cover his debts, that's the unspoken suspicion here isn't it. Quote Link to comment Share on other sites More sharing options...
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