One Man Owns 1% of ALL UK Property - 250,000 of them - and he's selling them all.

Thrugelmir

Not selling the properties

LONDON (Dow Jones)--Vincent Tchenguiz, the U.K.-based property tycoon, is selling a portfolio of ground rents, giving a buyer control over the freeholds of 250,000 U.K. homes, a person familiar with the matter said Friday.

jamesd

The family trust is selling the properties. It's the freeholder who owns them, not the tenant leaseholders. They may own a long leasehold tenancy but they still don't own the property, even if ownership is how it's commonly described.

It's still confusing if you don't know how the relationships work.

kissingthepink

He's only selling the ground rents that he owns.

jamesd

No, he's not. He's selling the freeholds as well as the ground rents. The two can be split.

Mike.M_6

Jimmy_31 wrote: »

The 250,000 houses they are selling are all on or around the estate i live on.

You are right the numbers dont stack up, no way i would be paying 12k a piece for buying a job lot round here.

12K for a house wow property is falling.

This chap just wants out before the big falls, but the more like him try getting out the further propert will go down,.

FTBFun

Mike.M wrote: »

12K for a house wow property is falling.

This chap just wants out before the big falls, but the more like him try getting out the further propert will go down,.

Spot the person who hasn't read the thread properly.

PS Buy silver.

the_flying_pig

Jimmy_31 wrote: »

The 250,000 houses they are selling are all on or around the estate i live on...

quite a big estate then?

Thrugelmir

FTBFun wrote: »

Spot the person who hasn't read the thread properly.

PS Buy silver.

If property values fall. So will the income from lease extensions.

MDG

I wouldn't buy a newspaper, let alone a property portfolio from Mr Tchenguiz.