Known as Britain’s biggest landlords, Fergus and Judith Wilson have started to sell off their 1,000 strong property portfolio.
The ex-teachers from Kent, thought to have built a £180 million fortune through buy-to-let investment, have confirmed the sale of 100 properties to foreign investors, the Financial Times has reported.
The couple, who announced last year that they would be selling off their portfolio, are hoping to make around £100 million in profit.
After originally planning to sell their whole portfolio in a single transaction, the Wilsons have since decided to sell the properties – predominantly two and three-bedroom homes in the south of England, in batches between now and the end of next year.
“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,” Mr Wilson told the newspaper.
“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.”
Wilson also confirmed that the couple would sell another 20% of their portfolio between now and September and plan to have sold around 40% by the end of the year.
“So we will sell nearly half our portfolio this year and half next,” Wilson added.
The Wilsons have courted controversy in the past when Mr Wilson was found guilty of hitting an estate agent and earlier the same year after sending eviction notices to tenants on housing benefit.
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"Tenants who have done nothing wrong" - except lose their job and claim LHA
Oh good - more tenant-bashing. Because it's never, ever the fault of those poor little innocent landlords who only have the best interests of their tenants at heart.
Honestly, the selective blindness is astonishing.
Mr Wilson may be Britain's 'Biggest landlord' in a literal sense, however there are other landlords who own more properties.
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