Wilsons Selling Up. The Lot. All 700 Houses.

PasturesNew

http://www.timesonline.co.uk/tol/money/property_and_mortgages/article6819301.ece

Watch that space....

epz_2

I'm pretty sure the government did something similar when they did a compulsory purchase of a large number of homes and then sold them off after the motorway was cancelled.

If I recall it decimated the house prices in the local area, I always had the impression any reasonably smart BTL'rs bought in a local area they knew, anyone local is unlikely to want to get involved so they are going to have to rely on numpties and there are a hell of a lot less of them about these days.

hearts

"QUOTE the reason they've survived is the government have almost certainly been backing them and they've probably now been told to sell before the crap hits the fan after the election"

I very much doubt that. How and why? Please explain.

RDB

Who on Earth is going to buy them?

Prices are going to free fall!

shakerbaby

hearts wrote: »

"QUOTE the reason they've survived is the government have almost certainly been backing them and they've probably now been told to sell before the crap hits the fan after the election"

I very much doubt that. How and why? Please explain.

How - word of mouth.
Why - to let them cut their losses.

Let not beat about the bush here this is a MASSIVE signal to all bulls to sell sell sell. i.e Get out while you can.:T

shakerbaby

RDB wrote: »

Who on Earth is going to buy them?

Prices are going to free fall!

Tis all good. :rotfl::j:beer::D

RDB

Fungus is the scum of the Earth. He delights in others misery.

His wife is even worse.

If you read up on them you will understand why they are hated so much.

PasturesNew

It just goes to show you how many people READ the links .... they are hoping to flog the lot off in one batch to furreners. Russians maybe ... who knows. Previous articles (few years ago) said they'd had some Russians offer to buy the lot from them, but they said "no thanks" at the time....

phil_b_2

It says they will sell to buy-to-let investors so I dont see a big impact on normal property sales and prices.

I wonder who off here posted the comment from 'Nathan Taylor' ?!?

epz_2

ill cop to that one pasturesnew, i did click the link but missed the 3rd paragraph, frankly i recon it would be hilarious if footballers ended up as slum lords

Generali

So basically they're selling a property company. As a bunch of houses in a mid-sized Kentish town is hardly a difficult portfolio to reproduce from scratch if you wanted to, presumably they'll sell at a discount to the net asset value of the company. The size of the discount will depend on their negotiating skills as much as anything else.