Former British prime minister Tony Blair made headlines over the Bank Holiday weekend for announcing a return to domestic politics to fight Brexit, but it also materialised that he is embarking on plans to expand the multi-million pound property portfolio that he owns with his wife, Cherie, by acquiring more buy-to-let properties in the north west of England.
Tony and Cherie Blair, which already own 38 buy-to-let homes worth an estimated £33m, have formed a company, Harcourt Ventures Ltd, to help manage their property empire, which was incorporated at Companies House in March.
The Blair family, which have reportedly banked at least £1.7m in profits from buying and selling nine properties, also have an extensive portfolio of private homes, including a £9m five-storey Georgian townhouse which they purchased in 2004 and a £10m Grade I-listed Buckinghamshire manor house,
As a QC, Cherie Blair last year threw her weight behind a campaign to prevent cuts to mortgage interest relief.
Her law firm Omnia Strategy claimed that the changes, which were finally introduced last month, breached landlords’ human rights.
The legal challenge was backed by landlords Steve Bolton and Chris Cooper.
But the landlords represented by Cherie Blair eventually failed in their legal battle against planned government tax relief changes for buy-to-let homes.
Speaking after the case in October last year, Mrs Blair said: “The Court’s decision that our clients’ legal challenge should not proceed is very disappointing. Steve and Chris, and many others, have dedicated a lot of time and energy into putting forward the best case possible. We know the case has been supported and followed with interest by a large number of individual landlords. Many of these landlords now face challenging times ahead.
“From the outset, the legal process was just one aspect of our clients’ fight against this unfair measure. Together with their impressive and growing coalition, they will continue to engage with the government, and the legal team wishes them every success.”