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Britain’s largest buy to let landlords are close to signing a deal for the sale of their huge property portfolio. Fergus and Judith Wilson own around 1,000 properties in Kent and if they achieve close to their asking price of £250 million, they could soon be enjoying a comfortable retirement.
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Mr Wilson told the Financial Times newspaper. “Whoever is ready with the money first and the price we want, that’s who we will go with.”
He says the couple have had some serious interest from a number of potential investors, and Mr Wilson said it was “approaching probable” that he would sell his portfolio to one of the three. He’s hoping that the sale will complete within the next month.
How Much Profit Will the Wilson’s Make From the Sale?
The Wilsons will need to repay the outstanding mortgages on the properties. They owe around £45 million, but even after taxes and fees are taken into account, they should have around £100 million to play with. Mr Wilson says that this “should be enough to pay for fish and chips for the rest of my life”.
The Wilsons began buying up buy to let properties in the mid-90s. Property investment was easier in those days, but today’s market is very different. Recent changes to affordability rules have been introduced to prevent irresponsible lending, so it may be difficult for new landlords to emulate Fergus and Judith Wilson.
