Jump to content
House Price Crash Forum
Sign in to follow this  
interestrateripoff

For Sale: Lord Sugar's Hot Properties

Recommended Posts

http://www.independent.co.uk/news/business/news/for-sale-lord-sugars-hot-properties-2034668.html

The Apprentice's Lord Sugar has signalled a return to the boom years with the proposed sale of three of his prized Mayfair properties, at pre-credit crunch prices.

The one-time Enterprise Tsar is seeking £120m for the portfolio, which would be comparable to 2006 numbers.

The star asset is the period façade retail and office property at 6-8 Old Bond Street, which is occupied by the luxury retailer Dolce & Gabbana and Condé Nast, the publisher of Glamour magazine. The other two properties are Albemarle House on the corner of Albemarle Street and Grafton Street, which is let to the royal jewellers Asprey & Garrard, and Sackville House on the corner of Sackville Street and Piccadilly.

Daniel Sugar, Lord Sugar's son, who manages the property investment portfolio, said: "We have received unsolicited approaches from three parties but we decided it was best, and the right approach, to appoint a property adviser and see where the market is at. These properties are unique Mayfair freeholds."

The three properties, comprising a mix of office, retail and residential space, are being sold by Lord Sugar's privately owned property vehicle, Amsprop Estates, part of the Amshold Group. Michael Elliott, a property services firm, is the selling agent.

Investment in the UK's commercial property sector has seen a resurgence after a 40 per cent fall in values, and there is growing investor interest, especially from overseas buyers.

Properties in Mayfair, one of the most expensive areas in the world, always attract interest. Stores on Old Bond Street – London's premier luxury shopping street, which ranks beside Fifth Avenue in New York and Rue Faubourg Saint Honore in Paris – are especially favoured.

Damian Corbett, the head of West End Markets at Jones Lang LaSalle, a property services firm, said: "The prime West End market has become a safe haven for a wide range of high-net-worth individuals, overseas investors and sovereign wealth funds over the past 18 months. Where other markets globally have been suffering, or where there is uncertainty, the West End market has continued to outperform."

Is he bailing out with the cash before another crash? Is the value realistic for this area? Anything similar come up for sale recently?

Share this post


Link to post
Share on other sites
<br /><a href='http://www.independe...es-2034668.html</a><br /><br /><br /><br />Is he bailing out with the cash before another crash? Is the value realistic for this area? Anything similar come up for sale recently?<br />
<br /><br /><br />

Another UK Tax Avoida?

What's he got to hide by having his accounts, off-shore, in the Channel islands?

It is this well-known success story that will be examined as part of the vetting procedure now under way by the House of Lords appointments commission which looks into the probity of anyone who has been newly appointed as a peer.

As a matter of routine, after receiving information from the police, the security services and the Inland Revenue, the committee will ask Sugar a series of questions, including, surely, one about Amshold, his off-shore company in Jersey.

Undoubtedly, Sugar will satisfactorily prove that he is resident in the UK for tax purposes, now an important issue for peers.

Share this post


Link to post
Share on other sites

http://www.independent.co.uk/news/business/news/for-sale-lord-sugars-hot-properties-2034668.html

Is he bailing out with the cash before another crash? Is the value realistic for this area? Anything similar come up for sale recently?

Commercial properrty is about to crash - even this kind of property will suffer. Not as much as elsewhere but it will suffer IMPO.

Share this post


Link to post
Share on other sites

Commercial properrty is about to crash - even this kind of property will suffer. Not as much as elsewhere but it will suffer IMPO.

Champagne socialists really make me puke and he is the worst kind. Whatever price he gets for this stuff is not indicative of prices generally. In fact it has zero bearing.

Share this post


Link to post
Share on other sites
Amsprop is Lord Sugar’s privately owned Real Estate vehicle. Since 1985 Amsprop has steadily continued to build an impressive property portfolio essentially focused upon ultra-prime Central London and core City of London freehold properties. Amsprop is a long term investor in the London real estate market and frequently undertakes various aspects of construction, redevelopment and refurbishment opportunities in addition to investments that can be improved by our Investment team through active management. Amsprop is committed to expanding its property portfolio and remains extremely active in sourcing the next suitable acquisition.

http://www.amsprop.com/index.html

Share this post


Link to post
Share on other sites

It makes you wonder why they’d want to sell such high value real estate at the moment. From their site it appears that they’ve got a few properties untenanted and it makes you wonder about the yield of the rest. Mind you they’ve got a tenant for part of one of their valuable portfolio.

High end real estate.

Share this post


Link to post
Share on other sites

It makes you wonder why they’d want to sell such high value real estate at the moment. From their site it appears that they’ve got a few properties untenanted and it makes you wonder about the yield of the rest. Mind you they’ve got a tenant for part of one of their valuable portfolio.

High end real estate.

...not a good time to be into property as an investment at the moment domestic or commercial ...the timing to sell is not ideal either ...although London is influenced by foreign investors... :rolleyes:

Share this post


Link to post
Share on other sites

'Lord' Sugar was probably praying his old mucker fatso Gordon would get re-elected and lavish yet more stimuli and QE on the economy. Now Cameron's in and it's austerity Britain he's trying to cash in.........should've offloaded in the spring in hindsight.

To be fair, it is excellent property and not your run of the mill retail/office space so some Arab MAY pay over the odds.

Share this post


Link to post
Share on other sites

these aren't the sort of thing you average joe buys, they are very big, very plush and very expensive.

The sort of people buying them aren't as bothered about the price as you'd think.

Chances are he's cashing in on all the crooks getting their money out of spain and greece.

Share this post


Link to post
Share on other sites

Amsprop borrowed half a bil and spunked it on commercial property at the top of the market.

LTV and rental flows shot to sh1t plus potentially hefty void rates could well mean this sale is far more forced than the PR BS is suggesting.

Share this post


Link to post
Share on other sites

Amsprop borrowed half a bil and spunked it on commercial property at the top of the market.

LTV and rental flows shot to sh1t plus potentially hefty void rates could well mean this sale is far more forced than the PR BS is suggesting.

Exactly.

Share this post


Link to post
Share on other sites

Amsprop borrowed half a bil and spunked it on commercial property at the top of the market.

LTV and rental flows shot to sh1t plus potentially hefty void rates could well mean this sale is far more forced than the PR BS is suggesting.

Surely not. They've had 3 UNSOLICITED approaches - 4 if you count mine. 'Oi tosser, 'aw muchjyouwant for them gaffs in Mayfair?'

Share this post


Link to post
Share on other sites

He has a large glass building off Ladbroke Grove, where he parked the Apprentices. It has remained stoically empty ever since.

Businesses have been closing down/moving out of that part of London for a while.

The whole street of offices where we had our old office is empty, pub is closed down...

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

  • 141 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.