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Buy to Let

Britain’s biggest landlords start to sell up

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
08/06/2015

Britain’s biggest landlords have begun the process of selling their property empire, a move which could net them £100 million.

Fergus and Judith Wilson are said to be Britain’s biggest landlords but have now started to sell their portfolio.

The pair owned around 1,000 properties across the UK, the Financial Times reported.

The sale began recently with the sale of 100 homes in Kent to foreign investors.

After originally planning to sell their whole portfolio in a single transaction, the couple decided to sell the homes in tranches between now and the end of next year.

Their portfolio mainly consists of two- and three-bedroom homes in the south of England.

Fergus Wilson told the newspaper: “The decision-making process was mine. Agents were reluctant to talk.

“We have got another 20% to sell between June and mid-September. We plan to have sold about 40% by the end of December. So we will sell nearly half our portfolio this year and half next.”

He said he planned to sell the properties without mortgages first, before moving onto the rest of the portfolio.

“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,” he said.

“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.”

After repaying mortgages and other fees, it is expected the couple will have made a £100m profit.


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