Anyone want to make an offer on a 3b pound property portfolio

[Fudge]

Check out http://www.dailymail.co.uk/news/art...ycoon-raise-3bn-selling-250-000-UK-homes.html

2B pounds of debt..............WOW!.

F

 

[crc_error]

maybe he is now buying in the USA?

 

[eggnog]

How on earth does he service a £3B portfolio on an LVR of 66%

 

[Will]

By defrauding banks.

 

[D.T.]

How on earth does he service a £3B portfolio on an LVR of 66%

In some countries, properties have yields you know

 

[eKwatee]

lucky they aren't in South Australia, the land tax bill would send him broke

 

[Graemsay]

Most British apartments are sold on a long lease, commonly for 100 years or so (particularly by the big estates), but sometimes for 999 years.

Generally the leaseholders will pay the freeholder a ground rent, which is typically pretty small, and in the long term the property will revert to the freeholder's ownership. As a consequence the freehold isn't worth a huge amount compared to the leased property that sits on it.

Here is an example of a one for sale. And it's precisely this sort of thing that Vincent Tchenguiz is selling.

The UK doesn't have a land tax, and property taxes are borne by the occupier, so he's not getting mugged for that.

 

[redwing]

Most British apartments are sold on a long lease, commonly for 100 years or so (particularly by the big estates), but sometimes for 999 years.

Generally the leaseholders will pay the freeholder a ground rent, which is typically pretty small, and in the long term the property will revert to the freeholder's ownership. As a consequence the freehold isn't worth a huge amount compared to the leased property that sits on it.

Here is an example of a one for sale. And it's precisely this sort of thing that Vincent Tchenguiz is selling.

The UK doesn't have a land tax, and property taxes are borne by the occupier, so he's not getting mugged for that.

Funny

I had a mental picture of the taxman picking somebody's pocket to get their wages and then mugging them down the road for the remainder