Thursday, October 15, 2009

Old news but good commentary from the Guardian

For sale: Britain's biggest buy-to-let empire

"That the Wilsons are now hoping to sell their entire portfolio says a lot about what "professional" investors think of the market. Maybe it is because the Wilsons simply wish to retire. Or maybe they believe the game is up for property investing...Don't bet against the Wilsons. They made a lot of money on the way up, and have lost only some of it on the way down. In the racing world they are regarded as eccentric enthusiasts, but their horse Cerium, a 500-1 rank outsider, romped home fifth in the Grand National this year. When they say it's time to sell, it's a compelling signal that falls in the property market are a long way from being over."

Posted by mountain goat @ 01:00 PM (1750 views)
Please complete the required fields.



14 thoughts on “Old news but good commentary from the Guardian

  • mountain goat says:

    My own anecdotal story. I have a colleague who is a novice BTL’er. Spent a year fixing up his second place. But now he has lost his day job, and squirming whether to sell up (making a loss) so he and his family can move to a city where he can find work. I am sorry he is losing his job but in the BTL poker game I am playing opposite him staring into the whites of his eyes.

    Reply
    Please complete the required fields.



  • Looks like the oligarch they had lined up has got cold feet…

    They may not be as evil as Nicholas Hoogstraten, but there are accounts of them being less than charming – attempting on one occasion to get a tenant to pay for a complete bathroom suite, after a cistern lid got broken..

    Reply
    Please complete the required fields.



  • I’m puzzled regarding the Wilson’s property ‘portfolio’

    Day after day I either hear or read about ‘Pent up demand’ a ‘shortage of quality properties’, ‘now is the time to buy’, ‘interest rates at historic lows’ ‘stamp duty holidays’ – the list of words and phrases is endless. Now the Wilson’s do not own a block of city centre appartments they apparently own traditional family type houses – so if the market conditions are so good why havent they offloaded their ‘portfolio’ ?

    Reply
    Please complete the required fields.



  • mark wadsworth says:

    It’ll be fun watching this story develop.

    Can anybody remember when they got their first coverage? Surely they must have been trying to flog off their “empire” long before it became a story. I’d give good money that in a year’s time we’ll be having a good old chortle at their misfortune, a bit like we did at Grant Bovey/Anthea Turner.

    Reply
    Please complete the required fields.



  • mark wadsworth – I agree as Fergus inadvertantly admitted in a recent radio interview that low interest rates were effectively keeping them affloat.

    Reply
    Please complete the required fields.



  • I also remember the Wisons saying that ‘if we go down everyone else is going to go down too’. This could be interesting……………..

    Reply
    Please complete the required fields.



  • I bought the Guardian today. Micheal Jackson died ? Blimey

    Reply
    Please complete the required fields.



  • fallingbuzzard says:

    Vultures that circle companies with liabilities greater than assets will always wait until the lion banks have ripped most of the meat from the carcass. They’re stuffed but if they hadn’t overextended and had diversified they would have made themselves multimillionaires. God knows what advice they took at the time but it must have been dispensed by a chimpanzee. Its sad but its almost always greed that takes people and businesses down.

    Reply
    Please complete the required fields.



  • greenshootsandleaves says:

    ut @ 2 ‘They may not be as evil as Nicholas Hoogstraten, but there are accounts of them being less than charming – attempting on one occasion to get a tenant to pay for a complete bathroom suite, after a cistern lid got broken.’

    Was that really the Wilsons? Anyway, there was a distinct lack of cooperation on the part of the judge. The writing’s definitely on the wall when the judiciary cannot be relied upon to recognize the valuable social role played by BTL landlords and keep those pesky, unruly tenants in check.

    Good article by Mr Collinson.

    PS All sorts of valuable (but slightly off-topic) tips on this site on buying Oz/Austrian/Neustrian dollars, etc., so here’s mine: always pick white for your bathroom suite, regardless of fashion (unless you’re setting a trap for an unsuspecting tenant). White is white; finding an identical shade in any other colour is well nigh impossible!

    Reply
    Please complete the required fields.



  • Well I struggle to believe they’ve only got £45million owing on these properties.

    They used equity withdrawel to expand.

    Personally I can’t believe the debt is less than £100million. But suspect it to be alot closer to £180 million.

    Afterall as they’ve let slip before the low interest rates are keeping them going. But if they only had £45million debt there would be a huge margin between rent and interest only.

    Quick calc. £45million x 5% / 12 = £187,000 per month interest only.
    700 houses at 600 per month is £420,000 per month.

    As I said quite a margin if they only had £45million debt.

    Plenty of margin to hand the whole lot over to a management company (or start there own) and enjoy their retirement.

    They owe loads more than £45million.

    Otherwise why sell.

    Reply
    Please complete the required fields.



  • Hey, it’s the Guardian. How can anyone from the public sector not be charrming and worth every penny. Bless ’em.

    Reply
    Please complete the required fields.



  • str 2007 – I think those of us who have taken a fair bit of interest in the Wilson’s in recent months can reasonably safely conclude that they are forced sellers – time will tell but I’m with MW on this one.

    Reply
    Please complete the required fields.



  • Yes,

    Likewise Jack.

    Reply
    Please complete the required fields.



Add a comment

  • Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
  • Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
  • Please adhere to the Guidelines

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes:

<a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>