Wilsons consider selling properties
FERGUS and Judith Wilson, Ashford’s biggest landlords, are considering selling a substantial number of their homes, it can be revealed.
Fergus Wilson, who recently turned 60, admitted this week that he did not want to be the richest man in the graveyard.
The Wilsons own more than 700 properties across the county, but mainly in Ashford and Maidstone.
They have made a fortune from their investment and made The Sunday Times Rich List with assets valued at about £300 million.
Mr Wilson revealed that a number of property companies had shown interest in buying some of their portfolio. About 300 properties could be involved in any deals.
The fall in property prices – or at least a flattening in values of the typical threebedroom terrace homes owned by the Wilsons – has prompted them to consider a sell-off.
“We’re making our money out of capital gains,” Mr Wilson said. “If there is to be no capital gain in the next three years, we might as well sell them now.”
Mr Wilson said that as far as buy-to-let investment was concerned, the party’s over.
The Wilsons made their fortune by investing in a rising market, with minimal or nil deposit. Now buy-to-let lenders, if you can find them – Bradford & Bingley now being broken-up was a major buy-to-let lender – are demand- ing up to 35 per cent of the purchase price.
“There’s not going to be an awful of capital appreciation in the next three years,” Mr Wilson added. “You must think it’s time to go.
“My wife and I are quite clear, there won’t be much more capital gain and we might as well knock it on the head as early as possible.
‘’If somebody came along and we could get the right deal, we would be mindful to do it.”
Meanwhile, the Wilsons are still pursuing their dream of developing a retirement village at Boughton Monchelsea, near Maidstone.
Fergus and Judith Wilson are considering selling some of their homes